Legal Framework

  • N.I.C.L. was established in 1976 through NIC Act 1976
  • It was Incorporated on 31st March, 2000 as an unlisted public limited company under the Companies’ Ordinance, 1984 through NIC (Reorganization) Ordinance, 2000
  • N.I.C.L  provides General Insurance coverage to the state-owned moveable and immovable assets belonging to Federal and Provincial Governments, Local Authorities and Statutory Corporations (under section 166 of the Insurance Ordinance, 2000).
  • SECP Rules for Insurers 2016