The Metropolitan Life Assurance Company of Pakistan Limited came into existence in August of 1992 at Quetta. The Company, however, established its Head Office at Karachi from where it commenced full-scale operations in March of 1993, which means that the company has been successfully selling life and health insurance throughout Pakistan for 15 years.

Our paid-up capital was doubled to Rs.200 million in 2004. This action was taken by our Board of Directors despite of the fact that the requirement of the Securities and Exchange Commission of Pakistan was to increase the paid-up capital to a minimum amount of only Rs.150 million by the end of 2004. Accordingly, in order to make room for the enhanced paid-up capital, we increased our authorized capital to Rs.250 million. The large paid-up capital base allowed us to better position ourselves to provide improved benefits and services to our individual and corporate customers.

In 2008, the company has launched a brand new product line for its prospective individual clients called Mehfooz Sarmaya Plan, which being a Universal Life policy, offers increased security, flexibility and liquidity to the policyholder with higher investment returns. In anticipation to the requirements of this new product, the Board of Directors of the company increased its paid-up capital in the first half of 2007 to Rs.220 million and, accordingly, the authorized capital was enhanced to Rs.500 million. Moreover, to meet the current minimum capital requirements of our regulator, Securities and Exchange Commission of Pakistan (SECP), we have again increased our paid up capital to Rs. 352 million in the last quarter of 2007. This substantial capital base has definitely positioned our company as a major player in the life insurance industry.

Metropolitan Life is a member of a large financial group of Pakistan, which includes East West Insurance Company Limited, the group's mother company specializing in general insurance with over 80 branches throughout Pakistan. With a joint paid-up capital exceeding Rs.554 million, the group, as a whole, has substantial resources at its disposal to easily meet its financial requirements.

Moreover, The Metropolitan Life Assurance Company of Pakistan Limited has 40 branches nationwide. With such a wide network of offices throughout the country, Metropolitan Life is well equipped to properly deal with individual and corporate clients.

We are a member of the Insurance Association of Pakistan (IAP) and duly listed at Karachi Stock Exchange where our Rs. 10/- share is currently trading at a substantial premium, which clearly shows the confidence that the shareholders and general public have in our company.

Metropolitan Life is an active player in the field of life and health insurance. The company has group and individual life/health re-insurance arrangements with the world's leading re-insurers. It is important to note that majority of the risk assumed by the company is reinsured with these financially sound reinsurers of international repute. Furthermore, all of our reinsurers are in the Standard and Poor's AA rating category, which indicates "very strong" capability to meet their financial commitments and comfortably fall within the secure range.