UNIC fundamentals

The United Insurance Co. of Pakistan Ltd. engages in the provision of general insurance services. It operates through the following segments: Fire and Property Damage; Marine, Aviation and Transport, Motor; Crop and Miscellaneous. The Fire and Property Damage segment compensate customers for damage suffered to their properties or for the value of property lost. The Marine, Aviation and Transport segment focuses on the loss or damage of vessels, cargo, terminals, and any transport of property by which cargo is transferred, acquired, or held between the points of origin and final destination. The Motor segment is involved in the protection against losses incurred as a result of theft, traffic accidents, and against third party liability that could be incurred in an accident. The Crop segment deals with financial protection against natural disasters, fire and lightening, and insect or pets attack on standing crop. The Miscellaneous segment covers engineering and livestock, personal accident, worker’s compensation, travel guard, products of financial institutions and health insurance. The company was founded by Fakhruddin Valika on October 20, 1959 and is headquartered in Lahore, Pakistan.