The Metropolitan Life Assurance, Karachi, Pakistan

About The Metropolitan Life Assurance Pakistan

• Providing life and health insurance services in Pakistan. Have offices allover Pakistan. The Metropolitan Life Assurance Company of Pakistan Limited came into existence in August of 1992, at Quetta. The Company, however, was established with its Head Office at Karachi from where it commenced full-scale operations in March of 1993, which means that the company has been successfully selling insurance throughout Pakistan for more than a decade. Our paid-up capital was doubled to Rs.200 million in 2004. This action was taken by our Board of Directors despite of the fact that the requirement of the Securities and Exchange Commission of Pakistan was to increase the paid-up capital to a minimum amount of only Rs.150 million by the end of 2004. Accordingly, in order to make room for the enhanced paid-up capital, we have increased our authorized capital to Rs.250 million. The large paid-up capital base is allowing us to better position ourselves to provide improved benefits and services to our individual and corporate customers. In 2007, the company will be launching a brand new product line for its prospective individual clients, which will offer increased security, flexibility and liquidity to the policyholder with higher investment returns. In response to the requirements of this new product, the Board of Directors of the company have further increased its paid-up capital in the first half of 2007 to Rs.220 million and, accordingly, the authorized capital has also been enhanced to Rs.500 million. The Company is an active player in the field of life and health insurance. Metropolitan Life is a member of a large financial group of Pakistan, which includes East West Insurance Company Limited, the groups mother company specializing in general insurance with over 80 branches throughout Pakistan. Moreover, The Metropolitan Life Assurance Company of Pakistan Limited has 40 branches nationwide. With such a wide network of offices throughout the country, Metropolitan Life is well equipped to properly deal with individual and corporate clients. Furthermore, with a joint paid-up capital of nearly Rs.393 million, the group as a whole has substantial resources at its disposal to easily meet its financial requirements. Metropolitan Life has group and individual life re-insurance arrangements with several of the worlds leading re-insurers. It is important to note that majority of the risk assumed by the company is reinsured with these financially sound reinsurers of international repute. Furthermore, all of our reinsurers are in the Standard and Poors AA rating category, which indicates "very strong" capability to meet their financial commitments and comfortably fall within the secure range.

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