Annual Report 2007 Company Information
Total Page:16
File Type:pdf, Size:1020Kb
EFU Offices Mardan 2 1 Abbottabad Peshawar 2 Islamabad 2 3 Rawalpindi Sialkot 2 1 2 Gujranwala 1 Layyah Sargodha 1 2 14 D.I. Khan Faisalabad Lahore 1 1 Sahiwal Chistian 1 1 Quetta 1 Multan 1 Chichawatni D.G. Khan 1 1 Vehari 1 1 Bahawalpur Goth Machi Rahim Yar Khan 1 Sukkur 1 23 Hyderabad Karachi Contents Company Information Profit & Loss Account 3 22 Management Statement of Changes in Equity 4 23 Vision and Mission Statements Statement of Cash Flows 7 24 Notice of Meeting Statement of Premiums 8 25 Report of the Directors Statement of Claims 10 26 Key Financial Data for the Statement of Expenses Last Six Years 27 15 Statement of Investment Income Statement of Compliance with 28 Code of Corporate Governance Notes to the Financial Statements 16 29 Review Report by Auditors on Pattern of Shareholding Corporate Governance 46 18 Offices Auditors’ Report 47 19 Balance Sheet Form of Proxy 20 EFU General Insurance Ltd. Annual Report 2007 Company Information Chairman Audit Committee Rafique R. Bhimjee Muneer R. Bhimjee Taher G. Sachak Managing Director & Chief Executive Abdul Rehman Haji Habib Saifuddin N. Zoomkawala Rating Agency: JCR-VIS Directors Insurer Financial Strength Rating: AA Sultan Ahmad Outlook Stable Abdul Rehman Haji Habib Jahangir Siddiqui Auditors Wolfram W. Karnowski Hyder Bhimji & Co. Muneer R. Bhimjee Chartered Accountants Hasanali Abdullah Karachi Taher G. Sachak KPMG Taseer Hadi & Co., Chief Financial Officer & Chartered Accountants Corporate Secretary Karachi Altaf Qamruddin Gokal, F.C.A. Registrar Legal Advisor Technology Trade (Pvt.) Ltd. Mohammad Ali Sayeed Dagia House 241-C Block-2, P.E.C.H.S. Senior Advisor Off Shahra-e-Quaideen S.C. (Hamid) Subjally, A.C.I.I. Ph: (92-21) 4391316-17 Fax: (92-21) 4391318 Advisors Website Akhtar K. Alavi, A.C.I.I. www.efuinsurance.com Naqi Zamin Ali Registered Office 11/4, Shahrah-e-Pehlavi, Peshawar. Main Offices EFU House M.A. Jinnah Road, Karachi. Co-operative Insurance Building 23-Shahrah-e-Quaid-e-Azam, Lahore. Annual Report 2007 EFU General Insurance Ltd. 3 Management Managing Director Senior Executive Vice Presidents Saifuddin N. Zoomkawala Abdul Hameed Qureshi, M.Sc. Abdul Sattar Baloch Joint Managing Director Aftab Fakhruddin, B.E. Hasanali Abdullah, F.C.A. Imran Ahmed, M.B.A., A.C.I.I. Javed Iqbal Barry, M.B.A., L.L.B., F.C.I.I. Jawahar Ali Kassim Senior Deputy Managing Director Jehanzeb Karamat Mahmood Lotia, A.C.I.I. Kamran Arshad Inam, B.E. Kauser Ali Zuberi Deputy Managing Director Khalid Mahmood Mirza Qamber Hamid, LL.B., LL.M. Khalid Usman Khozema T. Haider Mota Senior Executive Directors Khurram Nasim Abdul Rehman Khandia, A.C.I.I. M. Mubashirullah Khan Jaffer Dossa Mir Babar Ali Javid Niaz Khan, M.A., A.C.I.I. Muhammad Naeem Hanif Malik Akbar Awan Musakhar-uz-Zaman, B.E. Muhammad Iqbal Lodhia Shaharyar Jalees, M. A. Nudrat Ali Nurallah A. Merchant, A.I.A. Executive Vice Presidents S. M. Haider, M.Sc. Abdul Razzak A. Sattar S. Salman Rashid Ali Kausar Salim Rafik Sidiki, M.A. Aslam A. Ghole, F.C.I.S. Shaukat Saeed Ahmed Babar A. Sheikh Syed Ahmad A. Haq, M.Sc. Javed Akhtar Shaikh, B.B.A. Khalid Ashfaq Ahmed Executive Directors Mazhar H. Qureshi Khurram Ali Khan, B.E. Mohammad Arif Bhatti Syed Mehdi Imam, M.A. Mohammad Haji Hashim Mohammad Hussain Mohammad Rizwanul Haq Deputy Executive Directors Mohammad Younus Altaf Qamruddin Gokal, F.C.A. Muhammad Asif Arif, M.B.A., A.C.I.I. Austen B. Freitas Muhammad Rashid Akmal, M.B.A. Darius H. Sidhwa, F.C.I.I. Qasim Ali Mohammad K. M. Anwar Pasha Ross Masood M.B.E. M. Shezad Habib Salemmullah Tahir Mohammad Iqbal Dada, M.A., A.C.I.I. Syed Shahid Hussain Thomas Leo Fernandez Yawar Aminuddin Zakaria Suleman Assistant Executive Directors Zarar Ibn Zahoor Bandey Bashir Seja Mahmood Ali Khan, M.A. M. Shoaib Razzak Bramchari S. Aftab Hussain Zaidi, M.A., M.B.A. EFU General Insurance Ltd. 4 Annual Report 2007 Senior Vice Presidents Kaiser Ali Kaleem Imtiaz Liaquat Imran Kamran Bashir, M.B.A. Abdul Wahid M. A. Qayum, M.Com Mannan Mehboob, A.C.I.I. Adam Dur Mohd. Baloch Malik Firdaus Alam Moaz Nabi, A.C.I.I. Amin Nizar Ali, F.S.A., F.P.S.A. M. Hussain Khatri Mohammad Adil Khan Atta-ur-Rehman Riaz Mohammad Afzal Khan, EMBA Mohammad Amin Memon Badar Amin Sissodia Mohammad Amin Sattar, M.Com Mohammad Hanif Baqar Aneel Jafari Muhammad Naseem Mohammad Idrees Abbasi Haji Mohammad Ayub Mohammad Pervaiz Mohammad Siddique Khan Liaquat Ali Khan, F.C.I.I., AMPIM Muhammad Salahuddin Mohsin Ali Baig Mahmood Jafri Muhammad Shakil Khan, M.B.A. Ms. Menija N. Messman Mansoor Abbas Abbasi, B.E. Nadeem Ahmad Khan Muhammad Asif Hussain, A.P.A, F.C.M.A. Masroor Hussain Nadir Hussain Muhammad Ilyas Mohammad Nasir Riaz Ahmad Muhammad Mujtaba Muhammad Arif, M.A. Rizwan Ahmed, M.B.A. Muhammad Rashid Awan, A.C.I.I. Muhammad Arif Khan Saghirul Hasan Muhammad Saleem Gaho Muhammad Azhar Ali Shah Asghar Abbas Muhammad Shahjahan Khan Muhammad Ilyas Khan, A.C.I.I. S. M. Aamir Kazmi Muhammad Siddique Muhammad Mustafa Saleem, M.Com, A.C.I.I. Shahzad Zakaria Muhammad Sirajuddin Mohammad Kamil Khan, M.A. Shazim Altaf Kothawala Musarrat Zaman Shah Muhammad Razzaq Chaudhry Suleman Poonjani, A.C.A. Nadeemuddin Farooqi Muhammad Sohail Nazir, M.Sc., A.C.I.I. Tauqir Hussain Abdullah Noor Asghar Khan Muhammad Sohail Tayab Nisar, A.C.I.I. Quaid Johar Muhammad Suleman Qasim Wasim Tasawwar Rana Zafar Iqbal Naseeruddin Ahmed Zahid Hussain, A.C.I.I. Rao Abdul Hafeez Khan Pervez Ahmad Zia Mahmood, M.B.A. Rehanuddin Qureshi Rehanul Haque Qazi Riaz Hussain Siddiqui Rizwan-ul-Haq Riazuddin, M.A. S. M. Shamim Assistant Vice Presidents S. Anwar Hasnain Shamim Pervez, M.B.A. Abbas Ali S. Khaliluddin Syed Abdul Quddus Abdul Bari Saifullah Syed Ahmad Hassan, M.B.A. Abdul Mateen Farooqui, M.Sc. Salimullah Khan Syed Sadiq Ali Jafri Abdul Rashid Shahab Khan Tayyab Hussain Gardezi, M.Sc. Abdul Rashid Yaqoob Shahid Abdullah Godil, M.B.A. Zafar Ali Khokhar, M.A. Agha Ali Khan Asadullah Khan Shaikh Mohammad Yousuf Sikandar Kasbati Vice Presidents Asghar Ali Ashfaque Ahmed Tariq Mahmood Abdul Hameed Asif Ahmad Usman Ali, B.A.L.L.B. Abdul Majeed Asif Mehmood Waqar Ahmad, M.Sc. A. Ghaffar A. Kareem Atif Anwar, A.C.C.A. Waqar Hasan Qureshi Abdul Qadir Memon, M.Sc. Dr. Ghulam Jaffar, Ph.D. Zia Ur Rehman Abdul Shakoor Piracha Fakhruddin Saifee Ali Raza Farhat Iqbal Arshad Ali Khan, A.C.M.A. Business Consultant Farrukh Ahmad Qureshi Maqbool Saeed Farman Ali Afridi Ghulam Haider, M.Sc. Faisal Gulzar Haider R. Rizvi Iftikharuddin Chief Medical Officer Haseeb Ahmad Bajwa Imran-ul-Haq Dr. Mohbat Ali Khowaja Hassan Aziz Inayatullah Chaoudhry Irfan Ahmad, A.C.M.A. Inayatullah Khalil Javed Iqbal Khan Irshad Zamir Hashmi Annual Report 2007 EFU General Insurance Ltd. 5 Marketing Executives M. Yousuf Jagirani, M.A. Rizwan Humayun Malik Akhtar Rafique Syed Hasan Ali Senior Executive Directors Ms. Kehkashan Sultana Syed Imran Zaidi, M.B.A. Altaf Kothawala Rashid Habib, M.A. Syed Rizwan Haider, M.Sc. Jahangir Anwar Shaikh Shahid Younus Syed Saad Jafri Syed Ali Zaheer Syed Shahid Raza Yousuf Alvi Tariq Jamil, M.B.E. Executive Directors Usman Ali Khan Abdul Wahab Polani Syed Kamran Rashid Senior Vice Presidents Syed Rizwan Hussain Azharul Hassan Chishty Assistant Vice Presidents Ejaz Ahmed Adeel Ahmed Kh. Zulqarnain Rasheed Ali Hasnain Shah Deputy Executive Directors Mohammad Iqbal, M.A. Arshad Iqbal Agha S. U. Khan Muhammad Azhar Dawra Asif Elahi Haroon Haji Sattar Dada Muhammad Farooq Asrar Ahmed, M.B.A. Mohd. Khalid Saleem, M.A. Muneeb Farooq Kothawala Badar Hasan Qureshi Muhammad Javed Bashir Ahmed Khaskhaly, M.A. Assistant Executive Directors Muhammad Sheeraz, M.B.A. Faisal Mahmood Jaffery Abdullah H. Godil S. Sohail Haider Abidi Farid Khan Akhtar Kothawala S. Ashad H. Rizvi H.H. Ansari Ali Safder Ms. Shazia Rahil Razzak Javed Iqbal Cheema Syed Amir Aftab Syed Baqar Hasan, M.A. M. Anis-ur-Rehman Syed Asim Iqbal Wasim Ahmed M.A. Qayyum Khan Syed Jaweed Envor Maria N. Jagirani Vice Presidents Mrs. Sadia Muneer Senior Executive Vice Presidents Atique H. Patel Mrs. Tanveer Khurshid Abdul Wahab Azam Rafique Mubashir Saleem Anis Mehmood Bashir Ahmed Sangi Muhammad Aslam Hayat Muhammad Umer, M.A. Faisal Hassan Muhammad Hamid Ali Janjua Muhammad Umer Memon Fakhar-e-Alam Muhammad Mumtaz Hasan Mrs. Nargis Mehmood Ms. Fatima Moiz Shaikh Muhammad Musarat Hussain Rizwan Siddiqui Imdadullah Awan Muhammad Owais Jagirani Talib Abbas Shigri Jameel Masood Muhammad Shamim Siddiqui Ms. Nighat Sartaj Muhammad Tayyab Nazir M. Amir Arif Bhatti Naeem-ullah Jan Executive Vice Presidents Omar Javid, M.B.A. Aamir Ali Khan M. Ashraf Samana M. Mushtaq Najam Butt Qamarul Hasan Ansari Abootalib Dada, LL.B. Qasim Ayub Alamgir Anwar Shaikh M. Saleem Babar M. Zia-ul-Haq S. Iftikhar Hyder Zaidi, M.A. Amin Yaqoob, M.A. Syed Rashid Ali Azmat Maqbool, M.B.A. Mian Abdul Razak Raza, B.Ed. Muhammad Imran Naeem Tanveer Masood Iftekhar A. Khan, M.A. Wasif Mubeen, LL.B. Imran Ali Khan Muhammad Niamatullah Irfan Raja Jagirani Muhammad Rehan Iqbal Booti EFU General Insurance Ltd. 6 Annual Report 2007 VISION Our vision is to be the first choice company for our customers, shareholders and employees. To achieve this we will be driven by an obsession to be better than the best in a continuous journey, not a destination. At EFU first choice means a sustained commitment to meet and exceed stakeholder expectations.