National Assets Insurance Limited ("NAI") has been incorporated under the Companies Ordinance 1984 ("1984 Ordinance") on June 26th 2009 as a non-listed public company limited based on shares and is currently in the process of registration under the Insurance Ordinance 2000 ("2000 Ordinance") with Securities & Exchange Commission of Pakistan ("SECP"). Registered office of the Company is situated in Lahore and the operational head office is located in Karachi. The authorized capital of the NAI is Rs. 1 billion and the paid up capital is Rs. 500 million, as against the minimum paid up capital requirement of Rs. 300 million. The NAI has further plans to enhance its capital base later. The NAI has also plans to get listed on the stock exchanges. NTN Number of the company is 3396851-9.
The business plan of the NAIL envisage to capture the maximum of the market share through adoption of comprehensive, non-conventional distribution strategy by marketing innovative insurance products. During initial years, NAIL will focus on major cities of Pakistan, and gradually extend its branch network to other cities of the country.