Wednesday, 10 Aug, 2016 :

Karachi, July, 2016: Faysal Bank and IGI Life Insurance have signed an agreement to offer “ProtectSmart” insurance program for Faysal Bank’s valued customers. ProtectSmart insurance is a very unique term life insurance cover with value added services. The product provides life insurance coverage and in case of any unfortunate event will address the economic constraints of a family. It is a term life cover that offers coverage of up to PKR 4 Million, while keeping in mind the affordability and ease of subscription for customers. The product is underwritten by IGI Life Insurance. The signing ceremony held at Faysal House was attended by Faysal Bank’s Head of Retail Banking, Mr. Fouad Farrukh and IGI Life Insurance’s Deputy Chief Executive Officer, Mr. Nadeem Malik along with other senior officials of both the orgnizations.

Mr. Fouad Farrukh appreciated the bank’s agreement with IGI Life Insurance in launching ProtectSmart insurance; undoubtedly the uniqueness of the product will attract larger target audience while providing convenience in payment options.

Mr. Nadeem Malik welcomed the strengthening of the relationship between the two institutions and expressed his outlook towards an even stronger relationship in the future.

About IGI Life Insurance

IGI Life Insurance Limited has marked the entry of IGI Financial Services (part of Packages Group) into the Life Insurance arena through acquisition of controlling shares in American Life Insurance Company (Pakistan) Limited in April 2014. Acquisition by Packages Group makes IGI Life a one of a kind life insurance provider in Pakistan as IGI Life’s multinational heritage is now coupled with the experience of Packages group which is one of the most reputed business conglomerates having several joint ventures with leading global brands in the FMCG, Pharmaceutical and Packaging sectors. IGI Life’s current product suite includes Life Insurance plans, Accident & Health Insurance and Employee Benefit Solutions. IGI Life is also amongst the first few companies who commenced Family Takaful business in 2015 under Window Takaful Operations enabling the Company to offer Shari’ah compliant products.

About Faysal Bank Limited:

Faysal Bank Limited was incorporated in Pakistan on October 3rd, 1994 as a public Limited company under the Companies Ordinance, 1984. The Bank’s shares are listed on Pakistan Stock Exchange. Faysal Bank is engaged in Commercial, Retail, Corporate and Islamic banking activities. The Pakistan Credit Rating Agency Limited (PACRA) and JCR-VIS Credit Rating Company Limited have determined the Bank’s long term rating as ‘AA’ and short term rating as ‘A1+’.

Faysal Bank’s footprint now spreads over more than 85 cities with over 280 branches. With total assets in excess of PKR 380 billion, placing it amongst the significant players in Pakistan’s banking industry. Faysal Bank’s ambition is to provide par excellence service to its customers while meeting their financial needs.