Universal Insurance Plc

Universal Insurance Plc, formally known as The Universal Insurance Company Limited, is a Pakistani general insurance business headquartered in Karachi. It was established in 1960 by Lieutenant General Habibullah Khan Khattak, a Pakistan Army officer who founded the Bibojee Group conglomerate. The company entered the insurance market with reinsurance partnerships in Germany, Japan, and Korea, reflecting an early orientation toward international reinsurance capacity. As a general insurer, Universal Insurance Plc operates within Pakistan's domestic insurance sector, offering non-life insurance products. It is one of the long-standing subsidiaries of the Bibojee Group, a diversified Pakistani conglomerate with interests spanning textiles, automotive assembly and distribution, tyres, and insurance. The group's history includes periods of nationalization in the 1970s and subsequent re-privatization, during which the insurance company remained part of the Bibojee portfolio. Universal Insurance Plc is not publicly listed on a stock exchange according to available evidence, and its current ownership remains within the Bibojee Group. The company continues to operate as an active insurance provider in Pakistan, though detailed financial and product information is not publicly disclosed in the available sources.

The Universal Insurance Company Limited was founded in 1960 by Lieutenant General Habibullah Khan Khattak, a Pakistan Army officer nicknamed "Bibo" or "Bibojee," after whom the Bibojee Group conglomerate is named. The company was established as a general insurance business and entered the market with reinsurance partnerships in Germany, Japan, and Korea. This launch occurred in the same year that Khattak established the Janana De Malucho Textile Mills in Kohat, marking the beginning of the Bibojee Group's diversification. During the 1970s, between 1972 and 1977, most of the Bibojee Group's industrial holdings were nationalized under the government of Zulfikar Ali Bhutto. However, the group continued to operate primarily through Bibojee Services, which was formally incorporated as a private company in September 1981 to act as managing agent and trustee. The insurance company remained part of the group's portfolio through this period. After Habibullah Khan Khattak's death in December 1994, control of the Bibojee Group passed to his children, including retired Lieutenant General Ali Kuli Khan Khattak. The Universal Insurance Company continued as a subsidiary of the group. In the 2000s and 2010s, the Bibojee Group expanded its automotive and tyre businesses, but the insurance company remained a steady presence in the group's diversified holdings. As of the available evidence, The Universal Insurance Company remains an active subsidiary of the Bibojee Group, operating as a general insurer in Pakistan. The company is listed among the group's current subsidiaries, alongside Bannu Woollen Mills, Gammon Pakistan, Ghandhara Automobiles, Ghandhara Industries, Ghandhara Tyre, Janana De Malucho Textile Mills, and Rahman Cotton Mills.

• 1994

  Habibullah Khan Khattak dies; control of Bibojee Group passes to his children.

• 1981

  Bibojee Services is formally incorporated as a private company to act as managing agent and trustee for the group.

• 1972

  Start of nationalization period under Zulfikar Ali Bhutto's government, affecting most of Bibojee Group's industrial holdings.

• 1960

  The Universal Insurance Company Limited is founded by Habibullah Khan Khattak as a general insurance business with reinsurance partnerships in Germany, Japan, and Korea.

A long-established Pakistani general insurer within the diversified Bibojee Group, with historical international reinsurance partnerships.

• General insurance

  Non-life insurance products offered in Pakistan.

• 2026-08-25

  Universal Insurance sues NAICOM over licence revocation and receivership[2]Universal Insurance 就吊销执照及接管起诉 NAICOMpunchng.com

  Reported: 2026-08-25

  Universal Insurance Plc filed a suit at the Federal High Court Lagos against the National Insurance Commission (NAICOM), seeking to overturn the regulator's cancellation of its operating licence and the appointment of a receiver/provisional liquidator. The court granted leave to commence proceedings and directed respondents to show cause why an interim order should not halt further action; the case was adjourned to September 3, 2026.

1. 1Bibojee Groupen.wikipedia.org
2. 2Universal Insurance 就吊销执照及接管起诉 NAICOMpunchng.com