Assuring

the best-in- class.

commitments

timely.

Responsive: We put our

customers at the heart of all we do. From finding unrecognized customer needs to serving customers with tailored solutions, we constantly strive to fulfill expectations. Whether those expectations are in a time of crisis, or uncertainty; whether they revolve around future dreams or aspirations, we pride ourselves on being responsive in every situation. We are also highly responsive to our community and employee needs through the development of social programs and a diverse and inclusive workplace culture.

Responsible: Insurance is not just a product, but a promise at Jubilee Life, and that is why a strong sense of responsibility lies at the core of our business ethos. That responsibility means excelling at what we do, standing by every commitment in a timely manner and educating and engaging our customers every step of the way when it comes to insurance myths and misconceptions. Our responsibility also extends to our communities, where we foster social and health partnerships and promotion of sports.

Reassuring: Today insurance is about 'assurance.' Through our solutions and products, digital innovations, customer commitment, and operational excellence, we seek to reassure our stakeholders - be it customers, or employees - that they are in the best hands. Our customers can be confident that their futures are secure through a diverse range of insurance plans covering life, health, marriage, education and retirement; our employees meanwhile have the assurance that their needs and voices will be heard in an inclusive environment.

Annual Report

Annual Report

About The Report

The Annual Report of Jubilee Life Insurance Company Limited aims to provide readers and stakeholders with a comprehensive understanding of the Company's operations, financial performance, corporate governance, and business strategies. The report is a detailed document that offers a thorough overview of the Company's activities. The report including financial statements complies with all applicable statutory and regulatory requirements articulated in the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) as are notified under the Companies Act, 2017, provisions of and directives issued under the Companies Act, 2017 and Insurance Ordinance, 2000, Insurance Rules 2017, Insurance Accounting Regulations, 2017, the Takaful Rules, 2012 and International Integrated Reporting Council (IIRC) Integrated Reporting (IR) Framework.

The report covers the reporting period from January 1, 2022 to December 31, 2022 including subsequent events till its issuance to shareholders.

Jubilee Life is one of largest insurance companies in the country and it plays an important role in the economy. It has a large network of branches and wide customer base, which allows it to reach potential and existing customers, and other stakeholders. The information presented in the report provides stakeholders with the necessary details to make an informed evaluation of the Company's operations, financial performance, business strategies, key performance indicators, value chain, competitive analysis, and future prospects.

The report outlines Company's commitment to implementing the Integrated Reporting (IR) framework to promote accountability, transparency, and credibility. Additionally, the report describes the Company's established business strategies aimed at maintaining its leadership position in the market. It also clarifies the respective roles and responsibilities of the Company in this regard.

We identified the emergence of corporate social responsibility by adopting 9 goals from 17 United Nation's Sustainability Development Goals (SDGs) 2030 and have been successfully embedded sustainability at the core of our business operations over the years. We believe this disclosure would create more awareness among our stakeholders related to environment, sustainability and well-beingness.

This Annual Report contains following elements for the stakeholders of the Company:

  • Organizational Overview and External Environment
  • Strategy and Resource Allocation
  • Risks and Opportunities
  • Governance
  • Performance and Position
  • Stakeholders Relationship and Engagement
  • Disclosure on IT Governance and Cybersecurity
  • Sustainability and Corporate Social Responsibility
  • Outlook

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Disclaimer

Jubilee Life Insurance Company Ltd. published this content on 09 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2023 09:51:15 UTC.