New Jubilee Life Insurance Company Limited (NJI Life) is a subsidiary of the Aga Khan Fund for Economic Development (AKFED), Switzerland.
Incorporated in Pakistan on 29 June 1995, under the Companies Ordinance 1984, as Commercial Union Life Assurance Company (Pakistan) Limited, the Company commenced operations in 1996 as a Public Limited Company , listed in the Karachi Stock Exchange. Commercial Union was then acquired by AKFED (Aga Khan Fund for Economic Development) in 2003, as New Jubilee Life Insurance Company Limited (NJI Life). NJI life is governed by an independent Board of Directors comprised of industry stalwarts.
AKFED is the economic development arm of the Aga Khan Development Network (AKDN) - a group of private non-denominational development agencies seeking to improve opportunities and living conditions in specific regions of the developing world, especially Asia and Africa
AKFED is active in the fields of Industry, Financial Services, Tourism Development and Infrastructure in South and Central Asia and sub-Saharan Africa.
Some of the sister concerns of NJI Life in Pakistan are:
The Aga Khan University Hospital
New Jubilee Insurance Company (carrying out general insurance business)
The Aga Khan Health Services
Tourism Promotion Services (Chain of Serena Hotels)
First Micro Finance Bank Limited
Habib Bank Limited
The Aga Khan Education Services
Focus Humanitarian Assistance