What it does: Provides varied insurance products to customers across Pakistan and the UAE.
Best known for: Being a well-reputed insurance company and a part of the Adamjee business dynasty dating back over 100 years.
Financials: Recently attained Rs 1.2 billion in profit after taxes, stemming from Rs 20.8 billion in gross premiums. Market cap was far lower than previous years, valued at over Rs 14,700 billion, down from 18 billion and 25 billion before that.
The good: Respected brand with comfortable workplace culture.
The not so good: Long hours. Below average employee recognition.
Hiring grads with degrees in: accounting and finance; business and management; computer science
Adamjee Insurance began in 1896 as a commodity trading company, founded by Daji Hawood. This gave his son Adamjee the resources to one day take the company to greater heights.
In 1923, Adamjee Daji Hawood founded a match factory and a few years later, a jute mill. This allowed them to corner this niche market, facilitating further growth well past the partition era. He later established even more businesses, including the Meghna Textile Mill, with investments in vegetable oil production facilities, tea gardens, particleboard manufacturers and paper mills.
Twelve years after the death of Hawood, the insurance company we know was founded and listed on the Pakistan Stock Exchange. It quickly expanded into the UAE, allowing it to grow to a greater extent than other insurance companies in the region.
Today, it enjoys prominence as one of the largest insurance companies in Pakistan and one of many Adamjee industries, striving to carry the entrepreneurial spirit of its late founder into the 21st century.
Adamjee isn’t known for dedicated graduate programs, but young professionals often report positive experiences because there’s a lot to learn, the salary is good and the company is respected.
The main problem is the lack of positions. If you can get in, fantastic. You’ll learn plenty about business and finance at Adamjee Insurance but may also become well acquainted with long hours. Senior staff and management are generally supportive of new staff provided they make every effort to learn.
It’s a large organisation, so expect a few pay rises and promotions early on. The few promotions that are offered will likely be competitive. Furthermore, the paid internships aren’t a guaranteed way to more permanent work, nor are they paid competitively. If you can start your career here, you’ve got a great opportunity to learn, but staying too long may be ill-advised.
Your best way in is a paid internship, but even these are limited, so pay close attention to openings. Applying is simply a matter of heading over to their website and seeing what’s available and where followed by an online application. This consists of submitting your CV and contact information.
There are a few early-career pathways university graduates can utilise after their internship. The following are starting annual salary estimates for a variety of roles:
Adamjee has a fairly welcoming culture, facilitated by recreational events and benefits. It has its own cricket team and holds tournaments not only for cricket but badminton and tennis. Anyone disinterested in these can take part in company picnics throughout the year.
Adamjee Insurance seeks to ‘explore, differentiate and innovate’ as their late founder did through a persistent passion for the industry. It has four core values: