Vol 7 / Issue 1. Covered in this issue:

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1 Covered in this issue: Moving Beyond has been the spirit at Jubilee General whether at our Annual Sales Conference, sponsorship of Jubilee Snooker, excellence in Corporate Reporting or our Branch Performance. 02 Our Flagship Annual Event 08 Corporate Reporting at its Best 10 Jubilee Sponsors 7-Nation Snooker 12 Thalessemia Awareness 14 Annual Cricket Tournament 16 Long Service Awards Long Service Awards to recognise loyalty and commitment, annual cricket tournament to develop camaraderie and sportsmanship, encouraging employee participation in corporate social responsibility, honouring a departed colleague to sharing a simple dish of haleem also formed part of our corporate activities this quarter.

2 Managing Director s Address at the 7th Annual Sales Conference He then moved on to defi ne the strategy of our company. He stated that strategy defi nes our position in perspective of our competition and the market in the next 5-7 years. At Jubilee General our strategy is simple. We do not necessarily want to be the largest insurance company but we do want us to be the best insurance company. In many ways, we already are the best as we have been rated AA (with Positive Outlook) by JCR-VIS and PACRA while no other insurance company comes near in this regard. Secondly, in the last six years our market share has doubled and we plan to reach 17-18% of the market share by Thirdly, we plan continued growth in areas where we can showcase our knowledge and compete on excellence of service. By focusing on knowledge based products does not mean that we will ignore fi re, marine and motor portfolios but faster growth in non-traditional products such as Engineering, Banker s Blanket, Health Insurance, Professional Indemnity, Product Liability and Bancassurance will enable us to maintain our momentum of growth. Our Managing Director Mr Tahir Ahmed welcomed everyone and said that the two days of the Conference will be constructive, fun-fi lled and successful and that all will be wiser and go away with a strategy and a plan as per the theme of the conference Moving Ahead. He continued by congratulating everyone for successful 2011 as we wrote more than Rs 5 billion gross premium and outpaced the market; and moving beyond this year we will write more than Rs 6 billion gross premium. Mr Tahir Ahmed said, Last year you created a new incentive programme and this has taken the company forward by leaps and bounds: You gave a premium and collection target to yourselves and more than half a dozen branches and 20 development offi cers separately have qualifi ed for incentives. There is another couple of branches and half a dozen development offi cers who may also qualify if they meet the targets by end February. This means that nearly 100 of our family members will quality for the incentive, which is by all means a large number. Let us applaud. He then talked about three tiers of customers: Those who buy out of necessity Those who are reluctant to buy from us such as householders, shopkeepers and departmental store owners but when they are approached and convinced positively they are ready to buy in large numbers. This in turn also enhances the quality of their lives and sustainability of their business. Then there are those who never think of us. For instance people living just above or below the poverty line. Furthermore, rural sector by and large is not serviced by the insurance industry. He then spoke about Blue Ocean versus Red Ocean Strategy and exhorted all participants to own and think Blue Ocean Strategy always. For this purpose he stated that change should be taken in one s stride and existing products and strategies need always to be questioned and dumped or adjusted. He concluded by saying, We need to fi nd our own blue ocean every day, every month and every year!

3 The Neela Samandar Cast in one of their Extraordinary Meetings Ready to form a game-changer strategy for Jubilee General! Neela Samandar was better than Neela Ambar Conceived, Directed and Performed by Jubilee General s own staff! It was an entertaining & memorable play that portrayed the senior management from all zones brainstorming for a Blue Ocean Strategy. A little contribution from all Head Offi ce departments and 2 branches made this a hilarious success in the Jubilee General Sales Conference!

4 04 On 20 th February 2012, Jubilee General had its 7 th Sales Conference but for the fi rst time under its new identity. Last year at Sales Conference, Jubilee General highlighted an outstanding performance despite facing a turbulent economic environment. This year the theme of the Sales Conference was Moving Beyond as the company had recently crossed a new milestone along with new achievements for the year The Conference began with the Managing Director s speech, announcing and congratulating Jubilee General for crossing a milestone of Rs 5.0 Billion worth of Gross Premium and a healthy profi t of Rs 150 Million of Underwriting Premium! This year more than half a dozen branches and 20 Development Offi cers qualifi ed for the new incentive plan that was introduced last year. This year the entire company was going to prove that the company is not just good at core areas of business, but even in the non-traditional areas of business where the future lies for us. Hence our Managing Director spoke about the Blue Ocean Strategy that is essentially about targeting uncontested markets and creating a new level playing fi eld for the company. The First Day was rich with inspiration, team-building activities and a lot of excitement. Mr Saadi Insha, a leading trainer, facilitator and an inspirational speaker for organizations, took the stage to introduce his day-long programme Fire on All Cylinders. He shared some insightful situations and stories from his life s experiences, and fi nally reinforced those lessons with 3 engaging activities and a game. Each activity had one objective with certain restrictions that made it impossible to accomplish without teamwork. The whole audience was carefully distributed into teams, ensuring that each team was diversifi ed with members from different branches/zones. Despite the simplicity of each activity, the energy and excitement in each team was evidently relentless and immense. After accomplishing each task, there was an air of conviction that our limitations are almost entirely psychological than actual. The programme followed and concluded with insightful stories that inherently guided us how we should look at our success parameters. Mr Insha summed up his

5 05 session with the saying of his mentor, Jim Rohn, Life places some of the most valuable things on the high shelf. The end of the day was concluded by the Managing Director, acknowledging Mr Saadi Insha for his insightful session and a strong message about selfassessment: What would you have to do if you were not doing it for money? The Second Day covered an activity and a surprise session. This activity required exhibiting a vision of Moving Beyond through drawn and colored pictures. As a result, each team produced a work of their imagination which was surprisingly pleasant and yet another example of great teamwork. The same was acknowledged by the CEO of New World Concepts event management team, about the participation and enthusiasm of Jubilee General s audience. The surprise session was an execution by a team Neela Samandar in the form of an entertaining play. The cast represented the senior management having a meeting over the course of three days about discussing a Blue Ocean Strategy for Jubilee General. The whole play received tremendous rounds of applause and a rejoicing moment during tea break. Following the play was a panel discussion on Integration for Success. The panel discussion comprised of Mr Uzair Mirza, EVP FI Insurance, Mr Imran Rabbani, JEVP Claims, Mr Nadeem Irshad, JEVP Accident & Health, Mr Zamin Zafar, SVP IT, Mr Azfar Arshad, EVP Operations. The discussion highlighted the strategies being implemented to improve back-end processes to meet our growth objectives. It mentioned signifi cant areas for improvement in terms of product innovation and claims settlement through backend processes. These areas included suggestions on combining processes of Health Division with Jubilee Life, Claim centralisation process, and an improved Enterprise Resource Planning system in IT to improve overall effi ciency.the same was followed by an intense discussion with the Senior Management regarding the new changes that will follow in the company. After the discussion, three senior executives were acknowledged for their invaluable services to the company and were awarded Long Service Awards, whom included Mr Hashim M Shamim, Chaudhry Sardar Ali, and Mr Abdul Qadir Moochala. The last part of the Sales Conference and the most important was the award ceremony for all high achievers and those members who won the incentive for the year. The Sales Conference fi nally ended with full acknowledgement and best felicitations for Jubilee General Team until next Sales Conference. Shaan Quadri Management Trainee

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8 08 CORPORATE REPORTING AT ITS BEST! Corporate Reporting is a challenge that can only be done well when there is complete transparency in business functions of the company. It requires a diligent Finance department that ensures best reporting practices round the clock. By the year 2009, Jubilee General became a leading company in Corporate Reporting by earning the Best Corporate Report award. This award entails full compliance of the Code of Corporate Governance that is set by the Stock Exchange regulations. They are inspected by a team of external auditors who are experts in fi nancial reporting and audit. It also requires full compliance of disclosures set by the IFRS (International Financial Reporting Standards), State Bank of Pakistan, SECP (Securities and Exchange Commission Pakistan) and any other applicable laws set by Pakistan. This spirit surfaced in year 2008 when our Director Finance Mr Atiq A Mahmudi decided to participate in Best Corporate Report Awards. This is a contest governed by ICAP (Institute of Chartered Accountants of Pakistan) and ICMAP (Institute of Cost and Management) that annually announce the top performers in corporate reporting practices. The same year Jubilee General won 5 th position which was a huge motivator for the company. Following year, the Finance department studied the gap between the top position holding company and our annual report to highlight areas to improve. Consequently in year 2009, Jubilee General earned 1 st position and the reporting practices have become a standard for the company now. Excellence is not an act, but a habit and hence our Finance department went forward to pursue to add another feather to the cap. The SAFA (South Asia Federation of Accountants) is a forum of professional accountancy bodies which is committed to maintaining good accountancy practices in the SAARC (South Asian Association for Regional Cooperation) Region. On December 12, 2010 Jubilee General earned a Certifi cate of Merit for maintaining the Best Presented Accounts and Corporate Governance Disclosures for the year On November 29, 2011 Jubilee General earned the same award for the second time for the year Shaan Quadri Management Trainee

9 600 Branch Growth Performance as at March 2012 Based on provisional figures - Rupees in million Clifton Oil Department Agri Division KEPZ Bank Square Sales Unit 3 Peshawar Corporate Division Plaza Margalla Commercial Unit 1 Tariq Road Islamabad Sales Unit 2 Commercial Unit 2 Sales Unit 5 Hyderabad Shahrah-e-Faisal Jobia Bazar Rahimyarkhan Mall Mansion Saddar Multan Sales Unit 1 Accident & Health Faisalabad Bahawalnagar BFC New Unit Engineering & Infra Sukkur Bahawalpur Corporate Division Margalla Oil Department Commercial Unit 1 BFC Islamabad Shahrah-e-Faisal Commercial Unit 2 Accident & Health Mall Mansion Saddar Sales Unit 5 Sales Unit 3 Multan Sales Unit 1 Agri Division New Unit Jobia Bazar Peshawar Plaza Clifton KEPZ Tariq Road Hyderabad Bank Square Engineering & Infra Faisalabad Sales Unit 2 Sukkur Rahimyarkhan Bahawalnagar Bahawalpur 400% Branch Growth Performance as at March 2012 Based on provisional figures 350% 300% 250% 200% 150% 100% 50% 0% -50% -100% -150%

10 10 Jubilee Sponsors 7-Nation Snooker The much-awaited Jubilee 7-nation International Snooker Championship explode into action at Hotel Pearl Continental from Sunday, 4th March 2012 with 20 cuemen in the fray for crown. With that Jubilee Insurance moved its sponsorship of the game from national level to international platform. The 7-Nation International Snooker Championship 2012 was a grand tournament where 7 countries participated in the event. Bahrain, Egypt, UAE, Iran, Thailand, India and Pakistan were the 7 countries that sent their best players to bring home the grand prize. This championship took place in Pearl Continental Hotel during 4 th to 9 th March 2012 with live coverage from Geo Sports. Going down memory lane, we fi nd that it was nearly six years ago that Jubilee General was approached by the Pakistan Billiards and Snooker Association (PBSA) for sponsorship. Even then Jubilee General had a vision to promote the sport also at international level as was evidenced in our sponsorship of the 7-Nation International Snooker Championship 2012 We are now proud to share that Pakistan has some of the best players to represent the country at international platforms. There were big reasons to wait for the 7-Nation International Snooker Championship. It was only the second major international event that was hosted by the PBSA, the fi rst one being the Asian Snooker Championship in There were 20 participants in all, two cueists from each visiting country and eight players from Pakistan. Fans were also most anxious to follow the event as some well-known players were participating in the event, notably, Hussein Vafaei Ayouri the reigning World Champion from Iran, Yasin Merchant of India and two champions of Pakistan, M Asif and M Sajjad. Ayouri showed nothing less than impressive performance in his matches. Yasin Merchant is a household name in the game of Snooker from India and also the country s fi rst professional snooker player. M Asif and M Sajjad have been representing Pakistan in numerous tournaments and once again made the country proud by reaching the semi-fi nals. This championship was rich with thrill and excitement from the performance of the players. M Sajjad made a good run from the start until he faced a tough competition from Ayouri who seized the opportunity to level the match. M Asif secured a prize of $100 for making the break of 136 which was the highest in the event. Finally the second seed player of Thailand, Thepchaiya Un-Nooh clinched the trophy after defeating Ayouri, and also earned a cash prize of $2,000. Ayouri received the runner-up trophy with a cash prize of $1,000. Further, offi cials and chief guests were awarded mementos for being part of the event and they shared their views after the match. Mr Pascal and Mr Kammah the President and Secretary respectively of IBSF specially visited Karachi to attend the Tournament. Both of them were all praise for the standard of the game and the arrangements. Jubilee General has been associated in many other events as well. During the year 2012, there was also the Jubilee Insurance 4 th National Junior (Under-21) Snooker Championship.

11 11 the Lahore Gymkhana. 24 players took part in the event, which included 6 players from each province. Teenager Hunain Aamir won against Muhammad Majid with a score of 5-2. The Lahore Zonal Head, Mr Mehboob Pervez who was the chief guest of the event awarded the winner a trophy and a cash price of Rs 40,000. Majid collected the runner-up trophy and a cash prize of Rs. 20,000. The losing semi-fi nalists received a shield and cash prizes of Rs. 10,000. In each of these tournaments, Mr Tahir Ahmed always showed eagerness to be a part of these events. We look forward and beyond what s in store for Pakistan in the world of Snooker and Billiards. Shaan Quadri Management Trainee Hunain and Majid have now earned the right to represent Pakistan in the Under-21 Snooker Championship 2012, which will be held in Goa, India in April. Following this event, Jubilee General sponsored the 37 th Jubilee General National Snooker Championship 2012, which took place in Karachi during February 1 st to 9 th It was an exciting tournament with its twists. Sindh Cup qualifi er Vishan Gir made a sensational start by ousting Punjab s Imran Shehzad. Sarghoda s Sajjad made consistent progress against the former champion Mehmood, and also scored a century knock in one of the matches. Also, the top potters, Muhammad Asif and the defending champion Shahid Aftab made a formidable performance in the fi rst round of the matches. Finally, the 29-year old Mohammad Asif, who lost the title in 2009, regained it by scoring an impressive 8-2 against Sultan Mohammad. Asif and Sultan have now qualifi ed to represent Pakistan in the 28 th Asia Snooker Championship that will be held in Doha, Qatar in April. Mr Farukh Kamal, Manager Saddar Branch and his club team Dr Essa Labs won All Karachi Table Tennis Championship for the year The mega event was held at Islamia Club Karachi and 32 club teams participated in the event. Mr Kamal the captain of team stood out as an extra ordinary player and led his team to win the championship.

12 12 Mr Mohammad Iqbal lost his only son Kashif Iqbal to Thalassaemia and vowed to spread its awareness to Pakistanis at all levels so that incident of the disease is minimised. Kashif Iqbal Thalassaemia Care Centre (KITCC) was created in 1996 and they are dedicated to create awareness that Thalassaemia is a genetic disorder of the hemoglobin and is inherited from parents. That there are two types of Thalassaemia: T Major which is a disease, whereas T Minor is not a disease but those persons are carriers. Therefore they advise that pre-marriage tests are taken to prevent two T Minors into marriage and spread of the disease. KITCC were invited by Jubilee General in December 2011 to run camps at our Head Offi ce during which they made us aware of causes Thalassaemia and how one can prevent it, which was an eye opener for all of us. KITCC has blood bank and laboratory at its Trust premises and mobile units for camps that they run when and where requested. At Jubilee General they also tested blood samples and provided complete blood picture of 166 employees. Out of these, 33 employees voluntarily donated blood for free blood transfusion to indigent patients who come to the Centre. The Centre as an appreciation presented certifi cates to the donors along with their blood group card which were pesented by the Managing Director. Jubilee General greatly appreciates the selfl ess work of Mr Mohammed Iqbal in not only conducting the camps but also encouraging donors.

13 13 Ejaz Surmounts a Challenge If you maintain your selfconfi dence and do not feel disappointed then you can face any challenge in life, is said and proven by our colleague Mr Ejaz ul Hassan, AM-Marketing at Faisalabad Branch. Annual Haleem Party Congratulatons! Mian Faisal Usman Those whom God loves, die young aptly fi ts the passing away of Mian Faisal Usman in December He was 43 and heading the Lahore Zone. Faisal was an MBA and an ACII and in less than a decade of commencing his career took the challenge of heading the Lahore Zone of Adamjee Insurance and bringing its business portfolio to Rs 2 billion. Regrettably his innings at Jubilee General was only 3 years where he joined as Head of Market Development, heading the Lahore Zone the following year and a year later departing for his Heavenly Abode. Faisal had a very cheerful disposition and despite his illness in latter months his spirit was high and many did not realise the gravity of his illness, with the result his passing away was a shock to many. Inna lillahi wa inna ilayhi raji un. Ejaz met with an accident in 2009 and being a diabetic the wound did not heal. Doctors were constrained to ampute his leg below the knee but this has not deterred his dedication to work, which we must appreciate is a fi eld job to meet and service his clients. He is proud to stand on his own feet, albeit one prosthetic, and support his family with dignity and selfsuffi ciency. In being able to do this, he recognises the care and support of all his colleagues during his recovery and most particularly the morale boosting by his Branch Head Mr Hamid Hussain Zaidi who unstintingly was at his side throughout his ordeal. Ejaz s self-confi dence and support of his Branch Head and colleagues refl ects Jubilee General s corporate culture. In January every year Saddar Branch, Karachi has a tradition of Haleem Party which is largely attended by Head Offi ce and other Branch executives. Our Managing Director Mr Tahir Ahmed, and Executive Director Finance Mr Atiq A Mahmudi also graced the occasion. Ex Branch Head Syed Tanzeemul Hassan had started this tradition and it continues. For the interest of our readers we write that Haleem is more than a thousand year-old dish that has transcended several frontiers and cultures exclusively in the Muslim world. It is a tribute to the martyrs of Karbala and is usually served in the month of Moharram. Uzma and Arshad Waseem were blessed with a son, Muhammad Tayyab Waseem (picture on top) on 10 Janaury Zaib and Naeem Ahmed were blessed with a daughter, Hooriya Fatima (picture at bottom) on 14 February Congratulations to parents of both the new borns.

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15 15 Cricket a Game of Glorious Uncertainties Expectations, pressure, commitment, failure, winning, prayers, shouts and what not! Yes, this is what cricket is all about and it all happened in full colour at the 6 th Edition of Jubilee General Insurance Cricket Tournament, played on the lush green Master Mohammad Hanif Cricket Ground, Dohraji, Karachi from October to November Anticlimax! The fi nal of Jubilee Cricket Tournament 2011 was played between defending champions Jubilee Zebras and Jubilee Cheetahs and it didn t live up to the expectation. Zebras were the great favourite of the tournament and most likely to win but in the end they were totally outplayed in all departments by the Cheetahs who were more determined to win after unexpectedly defeating the Hawks in the semis. Syed Ather Abbas captain of Jubilee Cheetahs won the toss and elected to bat fi rst and registered 110 runs as a target for Zebras to win. In reply little cameo innings of Ali and Imran of Zebras developed hopes for them to win but the bowlers of Cheetahs bowled well and restricted the Zebras to ninety. Shumail s outstanding batting performance earned him the man-of-thematch award. Looking back the tournament, it started with an upset win of Jubilee Hawks over Jubilee Zebras in the opening match of the tournament. November 13, 2011 will not be an easily forgettable day for the cricket lovers in Jubilee General. The most unexpected and major upset happened that day in the six-year history of Jubilee cricket. That day fi rst match was played between Jubilee Zebras and Jubilee Eagles, where the fi ght between commitment and pressure was evident. Zebras were highly under pressure in the match due to the upset lost against Hawks in their opening match. They not only had to win this match but with a big margin to take them to the semis. What a genuine allround cricket performance by the Zebras: they had to chase 97 runs in only 48 balls but thanks to their opening batsman Master Blaster Mr Fasihuddin Khan, who scored 57 runs only on 24 balls with six sixers! The biggest upset of the tournament was when Jubilee Tigers defeated by Jubilee Falcons in their last pool match and one felt even more sorry for the Jubilee Tigers who were out of the competition just because of their casual performance. There were recognitions, S M Zia Ali of Jubilee Hawks - the man was named Player of the Tournament and again this year too Fasihuddin Khan of Jubilee Zebras was named Best Batsmen of the tournament for his performance in smiting boundaries, sixers and making quick runs in snatching victory against the odds or merely pulverizing the opposing bowlers into submission. Tariq Muhammadi of Jubilee Cheetahs captured the best bowler award. Jubilee General also presented a memento to their guest commentator Mirza Iqbal Baig a renowned sports commentator and anchor of GEO Sports for promoting sports activities in the country.

16 JUBILEEGENERAL.COM.PK Long Service Awards Rewarding employees for their long service and achievements is not just about giving awards, it is about giving people a sense of worth. With this view, Jubilee General Insurance felicitated seventeen of its staff members with Long Service Awards recently, on two occasions. Recognition at the 7th Annual Sales Conference: Mr Hashim Muhammad Shamim, Advisor, Administration completed 50 years with Jubilee General and our Managing Director greeted him with your association with the company is very commendable and it is a testimony of your loyalty and commitment to Jubilee General. Former Zonal Head Multan, Chaudhary Sardar Ali was greeted with under your leadership, MZO added three new branches and the management appreciates the growth achieved under your leadership. Mr Abdul Qadir Moochala, VP, Marketing s association with the insurance industry for last 60 years and his exemplary service to the clients was recognised. At Eid-Millan: For the fi rst time videorecorded screen shorts were displayed at the ceremony through which every award recipient shared his most memorable moment and contribution at Jubilee General. Thereafter, the programme was hosted by Mr Fasihuddin Khan, Deputy Manager, HR, and Mr Tahir Ahmed Managing Director, Jubilee General Insurance presented service plaques and cash prizes to the available award recipients in recognition of their commitment to service. The following employees qualifi ed the Long Service Awards: For 25 Years of Service Mr Hasan Hyder, DM, Administration, Mr Razzak Chaudhary, SVP, LSU-V Mr Ahmed Ali, Dispatcher, Administration Mr Mohammad Younus, DM, Claims For 10 Years of Service: Mr Ghazanfar Ali Savul, VP-Mktg, Peshawar Mr Kamran Rasheed, Manager, LSU-I Syed Israr Ali Shah, AM- Mktg, Mall Mansion Lahore Mr Mushtaq Siddiqi, Manager, Bond & Engg. Ms Shazia Hanif, Manager, Islamabad Branch Mr Waseem Fehmee, Manager, Mall Mansion Branch Syed Imran Ali Shah, AM, Mall Mansion Lahore Mr Javed Mustafa, SM, Faisalabad Branch Mr Sohail Ahmed, Senior Manager, Operations The management looks to continued loyal service of the employees. Fasihuddin Khan Deputy Manager-HR Editing and Design: Sunnu Golwalla