Interview with Khurram Ali Khan, the CEO of Fidelity Insurance Brokers

Khurram Ali Khan is the CEO of Fidelity Insurance Brokers. By qualification a Mechanical Engineer and started his career with EXXON Chemicals before joining EFU General Insurance in 1994. After an association of almost 24 years with EFU, he joined FIB in February 2019.

He has expertise in the property and casualty insurance market in underwriting, claims and administration along with oversight of reinsurance functions. He has been accountable for treaty and facultative reinsurance programs.

He leads the team of underwriters involved in underwriting of large variety of construction, marine and operational risks in Energy & Power Sectors.

He gained proven track record of building and leading diverse teams to improve risk management, insurance and claims programs by focusing on reducing the long-term total cost of risk. Innovative, entrepreneurial focus to drive continuous improvement in business results. Based upon analytical capabilities, customer focus and networking skills have been able to achieve topline growth with positive bottom-line results.

Following are the edited excerpts of a recent conversation BR Research had with him:

BR Research: Tell us about your professional journey and how you entered the insurance industry?

Khurram Ali Khan: I am an engineer by qualification, and I often say that I entered the world of insurance by accident, but it was an accident that completely transformed my career, and for the best. My early professional years with Engro Chemicals gave me a strong grounding in technical disciplines such as inspection, process safety, and risk assessment. That experience became the foundation for my entry into risk management and, eventually, into insurance.

Over the last three decades, I have been privileged to work across the entire spectrum of the insurance industry from underwriting, claimand reinsurance placements to risk advisory and broking. This blend of engineering expertise and insurance leadership has allowed me to bridge the technical and financial aspects of risk, particularly in high-exposure sectors such as energy, power, telecom, and large industrial complexes. Today, as CEO of Fidelity Insurance Brokers, I draw on that journey to ensure our clients benefit from solutions that are both technically sound and commercially robust.

BRR: How do you see the entire ecosystem of insurance sector in Pakistan?

KAK: The insurance sector in Pakistan is evolving but still has significant untapped potential. While penetration remains below regional benchmarks, there is growing awareness about the need for insurance across industries and individuals. Regulatory reforms are creating a more structured environment, but we must also focus on financial literacy, digital adoption, and building trust with clients. The ecosystem is moving towards professionalism, transparency, and value-added services, which I believe will transform the sector over the next decade.

BRR: How different is FIB with other insurance entities in Pakistan?

KAK: Fidelity Insurance Brokers (FIB) is Pakistan’s largest broker, and what sets us apart is our client-first approach. Unlike insurers, we do not underwrite risks. We represent our clients, ensuring they receive the best coverage, pricing, and claim advocacy. Our expertise spans energy, power, engineering, telecom, and high-risk industries where specialized knowledge is critical. FIB also leverages international partnerships with top global brokers, bringing world-class practices to Pakistan while staying deeply connected with local realities.

BRR: What are the focus key areas of FIB in Pakistan?

KAK: Our focus remains on high-value, high-impact industries that drive Pakistan’s economy, energy, power, telecom, infrastructure, and natural resources. We are also expanding into health, group life, cyber, and climate-related risks, which are becoming more relevant in today’s business environment. Beyond placements, we emphasize loss prevention, risk engineering, and claims advocacy, ensuring clients get more than just a policy as they get a partner in risk management.

BRR: Pakistan is being recognized as an emerging destination for natural resources, including gold, copper, and multiple energy resources. How do you see the opportunity for local and global investors?

KAK: Pakistan’s natural resource potential is immense. Projects like Reko Diq are just the beginning of what could be a multi-billion-dollar investment wave in mining and energy. For investors, this represents long-term value creation. However, success will depend on regulatory certainty, transparent frameworks, and reliable risk transfer mechanisms. If these are in place, Pakistan can position itself as a major hub for global mining and energy investment.

BRR: How can the increasing interest of the USA in Pakistan's energy resources attract foreign entities, and what could be the potential role of FIB to protect their interest?

KAK: Foreign interest, whether from the USA or other global powers, will only materialize into investment if risks are well-managed. This is where FIB plays a central role. We work with international insurers and reinsurers to design programs that protect foreign investors against political risk, operational hazards, currency fluctuation, and supply chain disruptions. Our role is to give investors the confidence that their capital is protected, allowing them to focus on long-term development.

BRR: What is the role of FIB to serve various entities in the energy sector and natural resources?

KAK: We serve as risk advisors and advocates for energy and resource projects. From combined-cycle power plants to upstream oil & gas and mining projects, we provide comprehensive solutions from risk assessments at the planning stage to tailored insurance placements and claims support during operations. Our strength lies in aligning local knowledge with global capacity, ensuring energy and resource companies in Pakistan are protected to international standards.

BRR: How do you foresee the opportunity for insurance companies or brokers at a time when power-producing companies are shifting to green energy?

KAK: The transition to green energy is not just a global trend, it is a necessity. For insurers and brokers, this opens an entirely new class of risks, from solar and wind farms to battery storage and green hydrogen. At FIB, we see this as a tremendous opportunity to innovate and bring global best practices in renewable energy insurance into Pakistan. Supporting green projects will not only diversify our portfolio but also contribute to Pakistan’s sustainable future.

BRR: What is the role of FIB towards the expansion of the power sector and the end of the power crisis in Pakistan?

KAK: Insurance may not directly generate electricity, but it is a critical enabler of power sector expansion. Without risk protection, no large-scale project can achieve financial closure. At FIB, we provide risk transfer solutions that give lenders, investors, and operators the confidence to fund and implement new power projects. Whether conventional or renewable, our role is to de-risk projects so that the power crisis can be addressed through sustained investment.

BRR: What are your recommendations to local and foreign companies to do business in Pakistan?

KAK: Pakistan is a market of 240 million people with strategic access to South Asia, Central Asia, and the Middle East. My recommendation to both local and foreign companies is to approach Pakistan with a long-term mindset. Yes, challenges exist such as regulatory complexity and infrastructure gaps, but the opportunities far outweigh them. Partner with the right local advisors, understand the regulatory framework, and ensure robust risk management. Companies that enter with patience and proper structuring will find Pakistan to be a rewarding destination for growth.