In a collaborative initiative, Habib Metro Bank and Jubilee Life Insurance (JLI) launched Bancassurance services at a product launch ceremony conducted at a local hotel on Friday, the 2nd of January, 2015. The event was attended by Mr. Sirajuddin Aziz, President & CEO, Habib Metro Bank and Mr. Javed Ahmed, Managing Director & CEO, Jubilee Life Insurance. Mr. S.M. Talib Rizvi, Group Head/Senior Executive Vice president, Habib Metro Bank, was also present at the occasion, along with other members of the Bank’s senior management.
Bancassurance will add to the diverse product spectrum of Habib Metro Bank, which currently operates through a growing nationwide network of 240 branches in over 60 cities. The Bank will be offering insurance and savings products designed by Jubilee Life to its customers.
Speaking of this partnership, Mr. Sirajuddin Aziz said, "Habib Metro Bank’s corporate philosophy is to continuously provide innovative products and unparalleled service to our customers. We are happy to be joining hands with the leading private sector insurance company of Pakistan. We look forward to providing additional value to our customers through this promising alliance.”
Commenting on the occasion, Mr. Javed Ahmed said “Bancassurance has been an excellent stimulus for enhancing the insurance industry’s reach to an expanded customer base and has contributed to the industry’s growth. Our alliance with Habib Metro Bank, which is one of the leading Financial Institutions in the country, will give us a unique platform to provide Bancassurance products and services.”
JLI is a global brand of Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general). JLI has been the pioneer in Bancassurance distribution and is the market leader among private sector insurance companies in Pakistan. With an average growth of 38% over the last five years, JLI is the most profitable and valuable life insurance company on the stock exchange.
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