Army Welfare Trust acquired East West Life Insurance company in late 2017 to capitalize on the growth in the insurance sector and introduce latest products; delivering attractive investment returns and swift claims settlement for the betterment of customers.
Askari Life Assurance, (formerly known as East West Life Insurance) was established in 1992 and has been operating long enough to prove diligence to survive and prosper even in the toughest of times. The management firmly believes that the acquisition will lead to better performance due to the backing of one of the largest business groups of Pakistan. Army Welfare Trust has an unwavering commitment to being a trusted long-term partner, focused on building productive, collaborative, trusting and beneficial relationships.
AWT started in 1971 with a modest asset-base and is thereafter a story of perseverance, innovation, business acumen and going beyond the frontiers in insurance, aviation, CNG, agriculture, manufacturing, sugar, lubricants, real estate, security solutions and many other diverse fields.
MD AWT, Lieutenant-General Najib Ullah Khan (retd) while addressing the meeting said, "As the leader of AWT, I have a special responsibility to keep up the pace of our ongoing ventures, and look forward to a bright future. We enjoy a tradition of integrity, dependability, and the name of Army adds to the confidence of the local and foreign investors. An institutionalized system of decision-making has helped establish our credibility in the corporate, industrial, financial and services sectors. We welcome this new venture gratefully and believe that it will prove prosperity for our group and nation."
Jehanzeb Zafar, the newly-appointed Chief Executive at Askari Life Assurance Company, has a successful track record of leadership along with in-depth knowledge of the insurance and financial services industry. He is credited with the development of distribution and organizational strategy as Chief Strategy Officer at Adamjee Life Assurance Company.
Jehanzeb holds an MBA from City University London and a certification in Strategy from Harvard Business School, USA. Jehanzeb Zafar said "Askari Life Assurance is entering the market at a time where society is in dire need of innovative financial solutions.
I believe together, with a dedicated passionate team, the legacy of Askari and AWT brand, we aspire to contribute to the well-being of our customers, shareholders and contribute towards a prosperous Pakistan."-PR