PACRA Upgrades IFS Rating of The United Insurance Company of Pakistan Limited

The Pakistan Credit Rating Agency (PACRA) has upgraded the IFS rating of the United Insurance Company (UIC) to AA with stable outlook.

The UIC with over 110 branches, is the fourth largest player in the insurance industry which has shown stability and sustainability from the past couple of years, a statement issued by PACRA said.

PACRA said that the UIC has balanced portfolio representing all the segments of the insurance industry, its crop segment is three-quarters of a billion while Takaful business is above Rs1 billion.

The company ranks higher than the peer companies in terms of profitability which has added to its equity base.

The company has a strong reinsurance panel and all the reinsurance entities are in the A category while one of its associates APNA Bank has seen a significant turnaround.

The management has planned another right issue for the APNA Bank which will further augment its position.

Speaking at the occasion, Mian Shahid Chairman United International Group said that service, transparency, and controlled environment are the hallmarks of our institution.

We have bridged gaps in the operating framework and other critical areas which has improved our liquidity and market position.

Insurance industry provides financial support and reduces uncertainties in the business which supports the entrepreneurs, he added.

Mian Shahid said that insurance provides cover against any sudden loss, therefore, it is considered a vital part of the economy.

View PACRA Press Release of dated 27.3.2019

Supreme Court Diamer Bhasha & Mohamand Dam Fund

Apna Microfinance Bank Ltd. is taking active part in funds collection scheme of Pakistan Government for construction of Diamer Basha and Mohmand Dam Fund in the Country.

UIC maintains ‘AA-‘ rating

The Pakistan Credit Rating Agency (PACRA) has expressed its satisfaction over the performance of United Insurance Company of Pakistan Limited (UIC). The UIC has successfully maintained “AA-” (Double A Minus) rating and it has introduced Claim Tracking System to provide better services to its policyholders. The rating denotes very strong capacity to meet policyholder and contract obligations, the PACRA statement said, according to a press release issued here on Thursday.

Sad demise of Chaudhry Muhammad Rasheed father of Mian M. A. Shahid, Group Chairman United International Group

Sept. 12, 2017

(إِنَّا للهِ وَإِنَّـا إِلَيْهِ رَاجِعونَ‎)

With profound grief we regret to inform that Father of Mian M. A. Shahid (Group Chairman of United International Group) passed away. May Allah rest his soul in peace and give the bereaved family courage to bear this irreparable loss. (Ameen!)

Namaz-e-Jinaza will be offered today at 07:00 PM at :
NOORPUR QABERSTAN,
FAISALABAD.
(NEAR LASANI PULI, SARGODHA ROAD).

Mian M. A. Shahid, UIG Group Chairman expressing his views about Pakistan Travel Mart

Mian M. A. Shahid, UIG Group Chairman expressing his views about Pakistan Travel Mart, appreciated the efforts of PTM Team and also elaborated how this event will be beneficial in changing the Travel and Tourism Trends in Pakistan!

Prominent Businessman Mian M. A. Shahid Elected Chairman of Apna Micro Finance Bank Ltd.

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Former Chairman Apna Microfinance Bank Limited Mr. Qamar Zaman presenting bouquet to Mian M. A. Shahid on being elected the new Chairman

Lahore (Commerce Reporter): The Chairman of United International Group, and a renowned businessman, Mian M.A. Shahid has been elected as Chairman of Apna Micro Finance Bank Limited in 75th Board Meeting held on 23.09.2016 at Lahore.

The Meeting was Presided over by then Chairman Qamar Zaman and the Board of Directors unanimously elected Mian Muhammad Akram Shahid as a Chairman for the next three years.

Mian M.A. Shahid is the prominent business figure of the country and a Chairman of United International Group, comprises of the fourth largest insurance company of Pakistan, The United Insurance Company of Pakistan Ltd., United Track System (Pvt) Ltd. United Software and technologies international, Tawasul Healthcare TPA (Pvt.) Ltd and others. Under the leadership of M.A.Shahid UIG group also look after various Companies outside Pakistan mainly Tawasul in Abu Dhabi, Euro City Insurance Co Ltd in Cyprus. Alba Insurance Corredor-DMCC, in Dubai and Union Insurance Brokers working in Ankara, Turkey. Mian M. A. Shahid also look after SPI Insurance Company Limited another Insurance growing day by day who has been recently awarded the Lifetime Achievement Award by the Governor of Punjab for his valuable services in the field of business. After his election, Mian M. A. Shahid thanked all the Directors. On this occasion he expressed his resolve that he would use best of his abilities to take all possible measures for bank operation, its expansion and in the interest of the consumers and swiftly expand the scope of the Bank in order to take it to the maximum grass root level so that job opportunities are created through micro-financing for alleviating poverty and raising awareness. He also expressed his optimism that in the times to come Apna Bank Limited will play its positive role for the betterment of the country’s economy.

On this occasion all the Board members appreciated the measures and efforts taken by the outgoing chairman Mr. Qamar Zaman and hoped that the new chairman will also perform his duties with same zeal and commitment. At the end of the event, retiring Chairman Qamar Zaman and other directors presented a bouquet to the newly elected chairman Mian M.A. Shahid.