Governance


Board of Directors
Mr. Shamim Ahmad Khan

Chairman

Mr. Shamim Ahmad Khan is the chairman of the Board of Directors of the company. As a member of Civil Service of Government, he occupied senior positions in the Government particularly in the Ministry of Finance. He retired as Secretary, Ministry of Commerce. For more than ten years, he served the then Corporate Law Authority and was its Chairman for six years. The Authority administered all laws which regulated the corporate sector in the country. He led the initiative for restructuring it into Securities and Exchange Commission of Pakistan and became its first chairman. He has undertaken a number of consultancy assignments for the World Bank, ADB and DFID besides authoring papers on Capital Market issues.

Presently, he is serving as a non-executive director of Packages Ltd, IGI Insurance Ltd, Abbott Laboratories Pakistan and Attock Refinery Ltd. He is also associated with non-profit organisations – SDPI, a think tank and Karandaaz, promoting SME financing and digital finance. Earlier, he has been a non-executive director of ABN Amro Bank and Royal Bank of Scotland as well as that of BOC Pakistan and Pakistan Reinsurance Company Limited.

Syed Hyder Ali

Chief Executive Officer

Syed Hyder Ali is the Chief Executive Officer and Executive Director of the Company. He is also the Chief Executive and Managing Director of Packages Ltd., Lahore, Pakistan.

Mr. Ali serves on the Board of a number of companies like Bulleh Shah Packaging Private Ltd, Nestle Pakistan Ltd, Packages Lanka Pvt. Ltd, Sanofi-Aventis Pakistan Ltd, Tetra Pak Pakistan Ltd, Tri-Pack Films Ltd, KSB Pumps Company Ltd and International Steels Ltd.

He is a member of the Board of Governors/Directors of Babar Ali Foundation (BAF), National Management Foundation (NMF), Ali Institute of Education (AIE), Pakistan Business Council (PBC) and Pakistan Centre for Philanthropy (PCP).

He is also a member of the Executive/Management Committee of Syed Maratib Ali Religious & Charitable Trust Society, Lahore University of Management Sciences (LUMS), World Wide Fund for Nature (WWF) and  International Chamber of Commerce, Pakistan.

Mr. Muhammad Kamal Syed

Director

Mohammad Kamal Syed is associated with the Company as a Non – Executive Director .He is also the Managing Director of Coutts & Co. He has a breadth of international experience spanning Investment Banking and the Fund Management industry. Prior to Coutts, he was CEO and founder of hedge fund group Axiom, and CEO of a leading multi-family office, MaxCap Partners. He spent nearly two decades working in Investment Banking in senior roles including Managing Director and Regional Head of Asia- Pacific at Barclays Capital. He was also Deputy Head of Global Derivatives and a member of the Management and Operations Committees of Barclays Capital. Subsequently, he ran Bank of Tokyo-Mitsubishi UFJ’s investment bank and was Chairman of the Executive Committee and member of the Executive Board.

Mr. Khurram Raza Bakhtayari

Director

Khurram Raza Bakhtayari is associated with the Company as a Non – Executive director. He did his Bachelors in Commerce in 1997 from the Hailey College of Commerce, University of the Punjab, Lahore. He qualified his Chartered Accountancy in 2002 from the Institute of Chartered Accountants of Pakistan and became the fellow member of the Institute in January 2013. He is the Chief Financial Officer of Packages Limited. He holds directorship of Bulleh Shah Packaging (Private) Limited, DIC Pakistan Limited, Maxim Feeds (Private) Limited, Packages Lanka (Private) Limited, IGI Investment Bank Limited and various other companies.

Syed Yawar Ali

Director

Syed Yawar Ali was educated at Aitchison College Lahore and got his Bachelors in Chemical Engineering and Masters in Management Science from Stevens Institute of Technology in New Jersey (USA). He also completed the Advanced Management Program (AMP 111) from Harvard Business School in 1992. He joined his family business i.e. Packages Limited in 1972 and then became Managing Director of Milk Pak Ltd. In 1988 Milk Pak joined hands with Nestle for a very successful Joint Venture.

Syed Yawar Ali is currently Chairman of Nestlé Pakistan Limited, Wazir Ali Industries Limited, Prime Genetics (pvt) Ltd & Pakistan Business Council. He has also been on the Board of Directors of State Bank of Pakistan and Pakistan International Airlines and Chairman of Lahore Electric Supply Company, Chairman, Agricultural Development Bank of Pakistan and Chairman, Pakistan Dairy Association.

He is also Co-Chair of the Pakistan India Joint Business Forum (PIJBF) this committee is Notified by Ministry of Commerce (Pakistan) to “Promote Trade with India”, Director Leadership for Environment and Development (LEAD) Pakistan, Director Global Change Impact Studies Centre, Director Punjab Board of Investment & Trade, Member of United Nations Committee for Contributions, Chairman, Steering Committee of Dairy & Rural Development Foundation. Member, Pakistan Trade and Investment Policy Program.

Ms. Faresa Ahsan

Director

Faresa Ahsan has joined us as an Independent director. She is a Senior Partner at Liaquat Merchant Associates, heading the corporate and commercial department of the firm. She specializes in corporate law, banking law, property law, IT related laws and contracts and other commercial matters. Ms Ahsan has trained and mentored lawyers at the firm.

Ms. Ahsan did her BA (Hons) in Politics and Literature from the University of Punjab (1979). BA (Hons) in Law from the University of Buckingham; UK (1983). Barrister-at-Law and member of Grey’s Inn (called to the Bar of England and Wales in 1983).

She has served as a member of the Audit Oversight Board and was involved in drafting regulations, and human resources manual.

Ms. Zehra Naqvi

Director

Zehra Naqvi has joined us as an Independent Director. She was the CEO of Chubb Insurance Pakistan, (a wholly-owned subsidiary of Chubb INA International Holdings Limited, Delaware, USA) from September 2005 to September 2017.

She has over 35 years of work experience in the insurance sector. Prior to joining Chubb, she worked with Royal Exchange Assurance, a branch of Guardian Royal Exchange, UK and with Adamjee Insurance Company in Pakistan.

Ms. Naqvi holds a B.Sc. Degree, and an MBA Degree from the Institute of Business Administration, Karachi University. She is a Chartered Insurer from the Chartered Insurance Institute, UK and is a Certified Director from Institute of Chartered Accountants of Pakistan.

She has served as an elected Member of the Executive Committee of the Insurance Association of Pakistan and of the Executive Committee of The American Business Council. Ms.Naqvi has represented the Insurance Association of Pakistan, on the Council of Pakistan Insurance Institute and was Chairperson of the Institute for the term of 2016. She has been a visiting faculty member at the Institute.

She has served on the Managing Committee of the Overseas Investors Chamber of Commerce & Industry.

Ms. Naqvi has served as an Independent Director on the Board of Abbott Laboratories (Pakistan) Limited. She presently serves as a Non-Executive Director on the Board of Chubb Insurance Pakistan Limited and as an Independent Director on the Board of Atlas Asset Management Limited.

Board Of Directors' Meeting
  • Closed Period Q4 2018 (22 Mar - 29 Mar 2018)

  • Closed Period Q3 2018 (19 Oct - 26 Oct 2018)

  • Closed Period Q2 2018 (20 Aug - 28 Aug 2018)

  • Closed Period Q1 2018 (17 Apr - 23 Apr 2018)

  • Closed Period Q4 (22 Feb - 03 Mar 2018)

  • Closed Period (21 - 23 Dec 2017)

  • Closed Period Q3 (13 - 24 Oct 2017)

  • Closed Period Q2 (22 - 29 Aug 2017)

  • Closed Period Q1 2017 (19 - 25 April 2017)

  • Closed Period Q4 (10- 27 FEB 2017)

  • Closed Period Q3 (18 - 25 Oct 2016)

  • Closed Period Q2 (16 - 23 AUG 2016)

  • Closed Period Q1 (12 - 25 APR 2016)

      Bankers
      • Standard Chartered Bank (Pakistan) Limited
      • Bank Al Habib Limited
      • Meezan Bank Limited
      • MCB Bank Limited
      • Habib Bank Limited
      • Faysal Bank Limited
      • Bank AlFalah Limited
      • Soneri Bank Limited
      Claim Settlement Committee
      Name
      1 Shamim Ahmed Khan Chairman
      2 Syed Yawar Ali Member
      3 Tahir Masaud Member
      4 Faresa Ahsan Member
      5 Kashif Qayyum Secretary
      Underwriting and Re-Insurance Committee
      Name
      1 Syed Hyder Ali Chairman
      2 Tahir Masaud Member
      3 Zehra Naqvi Member
      4 Muhammad Kamal Syed Member
      5 Ali Nadim Member
      4 Haseeb Kasbati Member
      4 Hasham Wajih  Secretary
      Risk Management and Compliance Committee
      Name
      1 Shamim Ahmed Khan Chairman
      2 Syed Yawar Ali Member
      3 Zehra Naqvi Member
      4 Khurram Raza Bakhtayari Member
      5 Mohammad Kamal Syed Member
      6 Ayesha Haq Secretary
      Ethics, Human Resource, Remuneration and Nomination Committee
      Name
      1 Ms. Faresa Ahsan Chairperson
      2 Syed Hyder Ali Member
      3 Syed Yawar Ali Member
      4 Khurram Raza Bakhtayari Member
      Investment Committee
      Name
      1 Muhammad Kamal Syed Chairperson
      2 Syed Hyder Ali Member
      3 Syed Yawar Ali Member
      4 Tahir Masaud Member
      5 Khurram Raza Bakhtayari Member
      6 Haseeb Kasbati Member
      7 Ali Nadim Member
      8 Sajjad Iftikhar Secretary
      Audit Committee
      Name
      1 M. Kamal Syed Chairman
      2 Syed Yawar Ali Member
      3 Khurram Raza Bakhtayari Member
      4 Zehra Naqvi Member
      6 Iqra Sajjad   Secretary
      Internal Auditor
      Name
      1 Shahzaib Haider Head of Internal Audit
      Appointed Actuary
      Name
      1 Shujat Siddiqui, MA, FIA, FPSA | M/s. Akhtar & Hasan (Pvt.) Limited
      Legal Advisor
      Name
      1 Surridge  & Beecheno
      Auditors
      Name
      1 A.F. Ferguson & Co, Chartered Accountants, Member firm of Price Waterhouse Coopers(PWC)
      Company Registration and National Tax Number
      1 Company Registration Number: K-0033434
      2 National Tax Number: 0860147-0
      Website Compliance Certificate
      • Year 2021

      • Year 2020

      • Year 2019

      • Year 2018

      • Year 2017

      • Year 2016

      • Year 2015

      Membership of Industry
      • Registered under Insurance Association of Pakistan (I.A.P)

      Shareholding Pattern of Companies
      • Year 2020

      • Year 2019

      • Year 2018

      • Year 2016