Mr. Omer Morshed is an Actuary, Chartered Accountant and Information Systems Consultant
He is a member of the following Professional Societies:
Mr. Morshed has 46 years work experience including 34 years in consulting. He is a Head of 600+ person consulting organization and has worked for professional services firms for most of his life, with work experience spanning Pakistan, the United Kingdom, the Middle East (mainly GCC) and Africa. He has also worked for a life insurance company in the UK for two years.
With respect to insurance he has worked for over 50 insurance companies in the region in a consulting capacity, with work including valuation of liabilities, pricing, risk management, strategic planning and implementation of systems (which were designed by entities I headed). He has also worked in the insurance audit department of a large accounting firm in the City of London for 5 years.
One of the entities he heads also develops, licenses and supports software applications including some related to administration of insurance business.
He has also held the following relevant positions in Pakistan
Mr. Tahir Ahmed is a Metallurgical Engineer by profession [BE (Met)-NED University], holds MBA (IBA, Karachi-Pakistan) degree, is an Associate of Chartered Insurance Institute (ACII), London and Chartered Insurer.
Mr. Ahmed has been associated with the insurance industry for more than 40 years. He spent 25 years with Adamjee Insurance where he obtained extensive experience in all areas of general insurance business including Engineering, Marine Cargo And Marine Hull & Machinery; Energy Risks and Aviation. As General Manager (Operations) of Karachi Zone in Adamjee, he oversaw the growth from 25 to 46 branches and premium from less than quarter billion to almost 3 billion Pak Rupees. His last assignment with Adamjee was as General Manager- Middle East where he was tasked to turn around the company’s operations which he successfully did.
Mr. Ahmed joined Jubilee General Insurance in August 2004 and since then the Company positioned itself as provider of innovative insurance solutions including specialized lines e.g. engineering projects insurances, products for financial institutions like Banker’s Blanket, Bank Lockers, Computer Crime and Directors & Officers Liability and many other unusual miscellaneous insurances including terrorism insurance. Under Mr Ahmed’s stewardship, Jubilee General also pioneered paperless & cashless on-line delivery of insurance products and continued to make rapid progress in internet / digital insurance sales. As the 3 rd largest insurance company, Jubilee General has grown twice the rate of the two larger companies in GWP (Gross Written Premium) and more than four times the rate in NP (Net Premium). Jubilee General became the first general insurer to win “B++ (Good)” rating from A. M. Best and “AA+” from both JCR-VIS and PACRA.
Currently, Jubilee General is maintaining ‘B+ (Good)’ from A.M.Best and ‘AA+’ from JCR-VIS and PACRA. Jubilee General became the first conventional insurer to set up Takaful business in 2015. Jubilee General has increased its market share from 6% to more than 12% over the last decade and a half. It also remains the only ERM (Enterprise Risk Management) compliant company of Pakistan recognized by A. M. Best.
Mr. Ahmed was the Chairman of Pakistan Insurance Institute (PII) and had held this position also in 2013-2014. He also held the office of Chairman, Insurance Association of Pakistan (IAP) in the years 2006-2007, 2009-2010, 2012-2013 and 2015-2016. In his first tenure as Chairman (IAP), Mr Ahmed rolled out the plan for IAP House which was completed in due course.
During the challenging time period in 2010, Mr Ahmed mooted the idea of International Insurance Conference in Karachi, Pakistan. Supported by PII, he chaired the Conference Committee of Pakistan Insurance Institute which successfully organized five International Conferences in 2010, 2012, 2015, 2017 and 2019 on“Political Violence”, “Catastrophic Events – A Challenge”, “Winds of Change Challenges & amp; Opportunities for the Insurance Industry in Emerging Markets”,“Climate Change & Emerging Risks” and InsurTech & Microinsurance respectively. These conferences attract a number of international speakers and delegates. This has now become the flagship event of the Pakistan Insurance Industry.
Mr Ahmed was the Member of the Working Group on Micro-insurance Development and the Chairman of Insurance Reforms Sub-Committee of Securities & Exchange Commission of Pakistan (SECP), Government of Pakistan. As Chairman IAP, he played an active role in the Crop Loan Insurance Scheme developed under SBP and was member of NFIS Scheme as well.
After completing 40 years in Pakistan Insurance Industry, Mr Ahmed retired as MD & CEO of Jubilee General on 31st December 2019.
Mr. Atiq Mahmudi, by profession, is a Fellow member of the Institute of Chartered Accountants of Pakistan and holds B.com and LLB degrees from the University of Karachi.
He has over 47 years of diversified experience of working as Chief Financial Officer, Chief Internal Auditor, Chief Information Officer and Company Secretary with local and foreign companies, including 27 years with Jubilee General Insurance Company Limited. He was also the Managing Partner of a firm of Chartered Accountants for over 7 years.
Mr. Mahmudi has served as
He has also served as a member in
Mr. Mahmudi has secured Best Corporate Leadership Award consecutively for two years organized by the Mass Human Resource Service with the support of Securities and Exchange Commission of Pakistan and Pakistan Stock Exchanges.
He has also played a key role in