History of The United Insurance Co.

Fakhruddin Valika   ( 1959 – 1982 ) – Valikas Family

Mr. Fakhruddin Valika, one of the then Leading Industrialists of Pakistan founded the United Insurance Company of Pakistan limited in the year 1959 with 20% equity from Pakistan Insurance Corporation (now Pakistan Reinsurance Company).

Mr. Fakhruddin Valika owned number of Industrial Projects including Valika Textile Mills Ltd., inaugurated in the year 1947 by the 1st Governor General of Pakistan, Right Honourable Quaid-e-Azam Muhammad Ali Jinnah. Mr. Fakhruddin Valika also owned a Steamship Company and was also on the Board of several commercial organizations including Muslim Commercial Bank Ltd. and Pakistan Insurance Corporation.

Mr. Fakhruddin Valika remained Chairman of the United Insurance Company right from 1959 till his death in December 1972.

Originally, United Insurance was authorized to do Life Assurance as well as General Insurance. The United Insurance Company had large network of branches through-out Pakistan – WEST PAKISTAN and EAST PAKISTAN (Now Bangladesh). In General Insurance Business the Company was doing special insurance Business such as Engineering (EAR, CAR, Machine Break-down and Bonds) Marine Hull, Aviation Hull, Hail Storm and loss of Profits.

Being a Composite Company and with the cooperation from Pakistan Insurance Corporation, the Company took respectable start and continued its progress until nationalization of its Life Sector in 70s. The United Insurance was a Captive Insurance Company but its Re-insurers abroad in London, Zurich and Munich did not hesitate in granting various re-insurance treaties as per the requirements.

The Valikas transferred their controlling shares of the Company in February 1982 in favour of a group of persons.

Mian Azizul Haque Qureshi (1982 – 1985)
The new team appointed Mian Azizul Haque Qureshi from Lahore as a Chairman of the Company. Mian Azizul Haque a leading Landlord, enjoyed versatile interests including industry and trade. Mian Aziz even established Trading Houses and a Financial Institution in United Kingdom but his eternal love for Lahore forced him to suspend his foreign activities.
Zainul Abidin (1985 – 1988)

After couple of years one distinguished Mr. Zainul Abidin who had Industrial Interest in Belfast (Ireland) succeeded as Chairman of the Company. Mr. Zainul Abidin also acted as Chief Executive of the Company in 1989 and with his notable approach he took such initiatives which paved way for United’s continued progress.

On resignation of Mr. Zainul Abidin, the Chairmanship of the Company was accorded to Mr. Ch. Habibur Rehman.

Ch. Habibur Rehman (1988 – 2007)
Mr. Ch. Habibur Rehman is a notable and leading Industrialist/Mines Owner and Businessman of Lahore. He is chairman of Zahid Steel, Indus Coal Mines, Jaykays and also Chief Executive of Habib Steel, Polecrete, Shahab Coal Mines, Deedshuneed Publications, Aziz Coal Mines, General Steel Mills and Trans Fab Ltd.
Mian M. A. Shahid (2007 – 2012)

In April 2007 the Company’s Board of Directors elected a professional to become Company’s Chairman and therefore Mian M. A. Shahid occupied the position of Chairman of the Company. Mian Shahid provided a dynamic momentum to the Company. The United Insurance Co. of Pakistan Limited is now a member of United International Group of Companies along with other Companies namely Tawasul Insurance LLC, Abu Dhabi, United Track System (Pvt.) Ltd., United International Agro Services, United Software & Technologies International (Pvt.) Ltd. & United International Farms.

As from January 6, 2012 Mian M. A. Shahid has relinquished his position as Director and Chairman of the United Insurance Company of Pakistan Ltd.

Ch. Habibur Rehman (January, 2012 – Mach, 2012)

In January 9, 2012 Mr. Ch. Habib ur Rehman was elected Company’s Chairman by the Board of Directors.

As from March 1, 2012 Mr. Ch. Habib ur Rehman has relinquished his position as Chairman of the United Insurance Company of Pakistan Ltd.

Khawas Khan Niazi  (March, 2012 to March, 2014)
In March 1, 2012 Mr. Khawas Khan Niazi was elected Company’s Chairman by the Board of Directors. He resigned from Chairmanship as on 01.03.2014.
Ch. Habibur Rehman (March, 2014 – May 27, 2015)
In March 01, 2014 Mr. Ch. Habib ur Rehman was elected as the Chairman of the Company.

The Director and Chairman of the Company Mr.Ch.Habib Ur Rehman passed away on the 27th day of  May 2015. May Allah Grant him peace and abode in Jannat ul Firdous – Ameen.

Mr. Ch. Habib Ur Rehman associated with the Company’s Board almost three decades.  Mr. Ch. Habib Ur Rehman was strong and fair in business. He was confident in his judgments & decisions and open minded who inspired confidence in his associates. He had ability to understand other’s motivations. He focused his plans and he was optimistic and was able to act without being guided by emotion. He was a true business man and successful industrialist. He lived his life with Eternal Faith as Faith in God, faith in system and faith in principal.