National Insurance Company Limited was created in Pakistan on 31st March 2000 as an open restricted organization under the Companies Ordinance 1984 through NIC (Reorganization) Ordinance 2000. The NICL is giving general protection inclusion to the State-Owned Assets which are moveable and unmoveable having a place with Government in Federal and Provincial, Local Government and Statutory Corporations. About NICL Significant Objectives of NICL:
To give protection spread to the Government/Local Government associations at the conservative expense
To diminish the surge of outside trade by decreasing reliance on reinsurance abroad
To make huge commitments to open exchequer by installment of assessments and profits
To cause reasonable interests in broad daylight just as the private segment so as to acquire greatest returns
At first, it was named as National Insurance Corporation shaped in the year 1976 through the NIC Act 1976.
The National Insurance Company Limited is 100% claimed by the Government of Pakistan (GOP) and working under the regulatory control of the Ministry of Commerce (MOC).
Approved Capital of Company is Rs. 6 Billion and Paid-up Capital of Rs. 2 Billion isolated into 200 million offers of Rs. 10 each.
Being NBFI, Securities and Exchange Commission of Pakistan (SECP) is the controller of NICL.
The National Insurance Company Limited is giving general protection inclusion to the State-Owned Moveable and Immoveable Assets having a place with Federal and Provisional Government, Local Authorities and Statutory Corporations.
Protection inclusion is being given in the accompanying zones:
Flame and Property Damage
Credit Risk and Suretyship
Mishap and Health
Agri Loans (New)
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