Ayaz Khan Niazi is a young and dynamic leader who comes from a well-reputed and strong family background. He is the grandson of the Nawab of Esakhel Abdul Ghafoor Khan Niazi (Late) and the son of Abdul Razzaq Khan Niazi an agriculturalist who was elected twice as a Member of the Provincial Assembly (MPA) from Khanewal. Abdul Razzaq Khan Niazi has been actively involved in Politics for over 30 years and maintains a reputation as a dignified and honest politician. Ayaz Khan Niazi’s sibling, Ali Khan Niazi was elected the Tehsil Nazim of Khanewal and is known for his hard work and dedication for numerous development projects carried out under his leadership.
Ayaz Khan Niazi graduated from Lahore American School (LAS) and went on to complete his Bachelors of Business Administration from Southern Methodist University (SMU) in Dallas, Texas, USA. He graduated from SMU with Honours in Academics and maintained a Grade Point Average (GPA) of 3.86/4.00. He has completed a Double Major in Finance and Economics from Southern Methodist University (SMU). Aside from being an exceptionally good academic student, Ayaz Khan Niazi was elected the Student Council President at Lahore American School where his leadership qualities were made evident. He has also been actively involved in sports where he represented Lahore American School as the Captain of Field Hockey, Soccer, Table Tennis, Volleyball, Track and Field, and Basketball teams.
Ayaz Khan Niazi commenced his professional career in 1998 as a Business Analyst at NovaQuest Info Systems in the United States of America. He returned to Pakistan and worked for CitiBank for a few years before moving on to Dubai to join Standard Chartered Bank (Dubai) in 2001. His Banking career has been phenomenal as he excelled to becoming the youngest Global Head in the history of Standard Chartered Bank. Ayaz Khan Niazi made a mark with his continuous outstanding performance for over 8 years with Standard Chartered Bank (Dubai) and moved up the ranks with well-deserved promotions and increments. Ayaz Khan Niazi resigned from Standard Chartered Bank in October 29th, 2008 as Senior Director and Global Head for Pakistan in the Private Banking Division to move on to join Deutsche Bank (Singapore) starting from November 25th, 2008 as Director Private Wealth Management. Given the opportunity to serve his country, Ayaz Khan Niazi accepted the offer to return to Pakistan as Chairman National Insurance Company Limited (NICL) on February 12th, 2009.
It is paramount to mention the commendable performance of NICL under the leadership of Ayaz Khan Niazi as its Chairman. National Insurance Company Limited has set the record for Revenue Generation for the financial year 2009. Net Profit before Tax for 2009 was 3,585,599,000/- rupees as compared to 1,513,614,000/- for year 2008. Net Profit After Tax for the year 2009 was 2,532,753,000/- rupees as compared to 1,050,277,000/- rupees for year 2008.
One of many praiseworthy changes implemented by Ayaz Khan Niazi as the Chairman of National Insurance Company Limited has been the initiative to propose and approve the long overdue salary increments through the Board. Not only were the salaries increased and brought at par with the current market but it also brought about a positive change resulting from a satisfied work force. Increased salaries would obviously hike up the costs, which should in turn result in lower profits but in fact this change worked to the benefit of the company with a motivated team of employees.
Another extremely lucrative project initiated and introduced under Ayaz Khan Niazi’s leadership was the “Crop Insurance” project. Not only has the project been a success in the short term, it has opened a new revenue stream for NICL to generate substantial premium profits in the years to come.
The increase in Net Profit Before Taxes from 1,513,614,000/- rupees in 2008 to 3,585,599,000/- rupees in 2009 is a clear indication of the hard work and dedication of the Chairman and Board Members of NICL along with all the employees who made it possible to set a new record in Profit Generation. This should and will be a benchmark for years to come.
Stakeholders would be interested in Earnings Per Share (EPS), which have increased by 141 percent from 5.25 rupees at year end 2008 to 12.66 rupees at year end 2009.
