23 April 2026
What Do They Do:
Shaheen Insurance is a insurance company engaged in broad non-life and takaful portfolio including fire and property damage, marine/aviation/transport, motor vehicles, health, miscellaneous classes, and window takaful operations. The detailed product list also includes liability insurance, public liability, third-party liability, directors and officers liability, group/personal accident, workmen compensation, fidelity guarantee, travel, all risks, burglary, money insurance, group health, and plate glass cover.
Company Profile:
Shaheen Insurance is headquartered at Karachi. Its branch network spans Karachi, Karachi Corporate, Hyderabad, Lahore, Lahore Corporate, Faisalabad, Islamabad, Peshawar, Sialkot, Multan, Sargodha, and Rahim Yar Khan. Approximate number of employee is 135.
Shaheen Insurance is a listed company at Pakistan Stock Exchange, with symbol SHNI
Financial Information:
| Period | Revenue PKR mln | YoY growth | Net income PKR mln | Net income growth | Profit margin |
|---|---|---|---|---|---|
| 2019 | 367.09 | – | 60.00 | – | 16.35% |
| 2020 | 293.93 | -19.9% | 35.60 | -40.7% | 12.11% |
| 2021 | 235.31 | -19.9% | 31.08 | -12.7% | 13.21% |
| 2022 | 392.20 | 66.7% | 53.38 | 71.8% | 13.61% |
| 2023 | 592.45 | 51.1% | 116.30 | 117.9% | 19.63% |
| TTM Sep-2024 | 873.60 | 47.4% vs 2023 | 165.10 | 41.9% vs 2023 | 18.90% |
Performance:
Although the Net Income growth in 2020 and 2021 was negative, the Profit Margin was positive. Since then Net Income Growth and Profit Margin have recovered.
Pakistan’s insurance industry assets rose from Rs 2,900 billion in 2023 to Rs 3,554 billion in 2024, while gross premiums grew 7% year on year to Rs 677 billion. This provides a useful benchmark backdrop: Shaheen Insurance’s recent revenue and profitability growth appears stronger than the broad sector’s 2024 top-line growth rate.