Binder Group

OUR HISTORY & PROFILE

Binder Group was established on February 22, 1993 to meet the growing need of business community in Pakistan for Independent Technical Advice on Insurance. These services are provided by utilizing the technical expertise available with it and backed up by a panel of Experts who specialize in the fields of Insurance, Reinsurance, Engineering and Risk Management Services.

 

Binder Group was founded by the Late Mr. Salem Farooqi, a renowned personality in the Pakistan Insurance Industry who carried with him a rich experience in the field of Insurance, Reinsurance and Risk Management. His Insurance career in Pakistan and abroad was spread over 42 years of which more than 24 years were devoted mainly to consultancy work. In 1999, after his sudden demise, Mr. Hashmi was appointed as Senior Technical Advisor with a Panel of Experts in the fields of Insurance, Reinsurance, Engineering, Surveys and Risk Management to move forward with the Binder's Vision. David Smith, Anwar Shah, A. Kamil, H. Shahid, Samantha Reed, Cydikay Khalil and Atif Farooqi at Binder Group form a Professional Team geared with absolute Risk Management skills, knowledge of the Power Sector, familiarity with the Financiers and uncompromising style of LIA Consulting.

 

The Advisory Board of Binder Group comprises of experienced personnel who enjoy a high degree of recognition in their fields of activities. These experts are true strength of Binder Group, which it uses in improving in Quality of work and applying this expertise to more complex tasks. Late Mr. N A Qazi, Former Chairman Pakistan Insurance Corporation (now PRC) was the Founding Chairman of Binder Group. Until recently Late Mr. Irshad Qazi, who carried long and invaluable experience in Risk & Surveys in the Insurance industry of Pakistan acted as Chairman of the Board of Advisors. At present Dr. Nauman Farooqi acts as the Chairman of the Board of Advisors at Binder Group.

Binder Group has furnished Consultancy Assignments for Power & Projects valuing around US $ 6 Billion. They acted as Insurance Advisors of World Bank & National Bank of Pakistan (NBP) on Hub Power Project till debt termination, Uch Power Project, SEPCOL Power, Rousch Power Project, & Hub River Fuel Oil Pipeline Project. Other large Clients being handled by Binder Group include GulAhmed Energy, Jenner Fenton Slade, Premier Container Terminal, Schon Group & Davis Energen Limited, Pakistan Ethanol Private Limited, SRL Toll Road Project, Master Tiles & Ceramic Industries Expansion Project, Solis Energy Solutions Solar PV Projects at 18 Pakistan Army Garrisons  and hundreds of others.

 

Binder Group has historically been a leading exponent in the LIA & LTA  Consultancy domain on Power Projects in Pakistan. Binder have forged a team of multidiscipline Technocrats who can work closely at our platform to address every possible Insurance and Risk Query. For over 28 years Binder Group has been providing a highly professional, yet personal Insurance Consultancy service to its corporate and commercial clients. We have established a reputation within North America & Asia (Pakistan) for truly understanding the complexities of various industry sectors and providing tailor made solutions to meet all of their Insurance needs. Binder's Insurance Specialists are renowned for their innovative approach in developing integrated insurance; reinsurance and alternative risk transfer solutions, in view of the complex risks inherent in your business.

Binder's CEO Asia & Head of Global LIA Practice, Atif Farooqi is involved in the day to day running of the LIA
consultancy business in Asia and has established long term relationships with many of our valued clients. A
dedicated client team works closely with you to ensure that all aspects of your insurance, and risk management
requirements are met to the highest possible standard. David Smith looks after the North America office as CEO
North America. Samantha Reed works on the business development side as Vice President. Binder Group’s LTA Practice is looked after by Richard A. Robert as the Head of Global LTA Practice. Usra Saleem is associated with us since 2017 and looks after the Interior Designing Services as the Head of Architectural Lighting Plan Design & Interior Design Engineering. Yasir Farooqi is the President at Binder Group and leads the firm’s LIA & LTA Consulting activities and provides advice to the team and has more than 22 years of experience in providing advice on a variety of financial transactions in several industries in North America. He has worked for Fortune 100 Companies like First American and Core Logic in senior positions.

Our LIA Experts are considered to be market leading advisors in power and onshore and offshore energy (including energy from waste, offshore and onshore wind, solar, oil and gas, LNG and bio-fuels), transportation infrastructure (including port and highways), PFI and PPP infrastructure of all types, waste, wastewater, desalination, solar and nuclear related projects. Binder Group have consulted on hundreds of construction and operational project finance, corporate finance, acquisition, and work-out transactions across a broad range of sectors, earning “Preferred LIA Expert” status on a large majority of the projects financed within the power (including renewable power), energy, and infrastructure sectors. Our Spectrum of experience encompasses Biofuels, Biomass, Energy (Oil & Gas), RE, Transmission, Mining , Coal and Transportation.

 

Our Position at Binder enables us to operate as an Insurance Catalyst; equipped with International Insurance contacts, making sure at our end that each of sections of the Insurance Orchestra are playing the same as us.

OUR TEAM

David Smith
CEO & Head of LIA Practice - North America

David Smith brings to the firm more than 28 years experience as a Commercial Property and Casualty Insurance Underwriter and Broker. He started his career as an Underwriter for a regional wholesale insurance broker, handling commercial property and casualty accounts across California State. After 10 years, David joined a large insurance brokerage firm, handling regional and international customers' insurance and risk management needs. David’s primary focus has been in the Lender Insurance Advisory Service (LIA) of the firm. He heads the insurance due diligence services encompassing North America to the commercial lending industry, focusing on ensuring that the lender’s interests are properly and adequately protected under its borrowers' insurance programs. David is a graduate from UCLA with a degree in MBA finance. He loves to play golf and fond of cooking.

Samantha Reed
Vice President - Global Business Development

Samantha Reed is with Binder Group since inception as Vice President - Global Business Development to look after the North America market. She has been associated with the insurance industry for over 20 years, earning a reputation for particular expertise in the design and development of project specific insurance programs. She has been involved in well over 125 major projects transactions totaling in excess of $5B in values. She has extensive experience in all project related insurance coverages; She serves as an outstanding resource for all clients (Lenders), providing strength to the Lenders Insurance Advisory Practice. Samantha is a graduate from USC with a dual major in Finance and Economics. She is an avid horseback rider.

Yasir Farooqi
President

Yasir Farooqi is the President of Binder Group. He leads the firm’s global LIA, LTA & IEA Consulting activities and provides advice to the Team and has more than 20 years of experience in providing advice on a variety of Financial Transactions in several industries in North America. Yasir is a graduate from California State University Fullerton with a degree in MBA. He loves to play tennis and fond of travelling the world. Yasir has worked for Fortune 100 Companies like First American and Core Logic in senior positions.

Atif Farooqi
CEO - Asia & Head of Global LIA Practice

Atif Farooqi is the CEO - Asia & Head of Global LIA Practice of Binder Group LLC – a 27 years old privately owned and highly focused and dedicated truly Independent Pure Lenders Insurance Advisory and the Executive responsible for Binder’s Global Lenders Insurance Advisory Practice. Atif Farooqi, has furnished Insurance Consultancy assignments for Power & Infrastructure Projects valuing around US $ 4.5 Billion till date. Atif’s primary focus since joining has been in the Lender Insurance Review Practice of the Group. He provides Insurance Due Diligence Services to the Commercial Lending Industry, focusing on ensuring that the Lenders' interests are properly and adequately protected under its Borrowers' Insurance Programs. For over 23 years, Atif has been associated with the Insurance Industry, earning a reputation for particular expertise in the design and development of Project Transaction Specific Insurance Programs. Atif has been involved in well over 50 major projects totaling in excess of $ 4.5 B in values. He has extensive experience in all Project related Insurance Coverages, i.e., Wrap-ups, Builders Risk, Professional Liability, Environmental and Owners Interest, as well as Business Risk and Contract Analysis. He serves as an outstanding resource for the Lenders providing knowledge of customized Insurance Programs. Binder’s LIA Practice was formed at the start of 1993; Farooqi joined Binder as CEO in March 1997, and had responsibility for the Company’s Strategy, Operations, and Communications. Farooqi holds a BBA (Honors) and MBA. He is a member of the Binder’s Group Operating Committee, the Senior Management team setting and executing Binder's LIA consulting strategy as the Global Head of LIA Practice. Farooqi has served almost all the Major Banks and Financial Institutions including World Bank, Sakura Bank on behalf of Binder Group as Lenders' Insurance Advisor. Farooqi has also served as Advisor to the Ambassador of Romania to Pakistan, International Committee of the Red Cross (ICRC) & Advisor to Romanian Trade Commission. He is currently the Advisor to the Pakistan Romania Business Council, Chief Operating Officer of Pak Ukraine Trade & Culture Center, & Member Advisory board at GIFT University.

Richard A. Robert

Head of Global LTA Practice 

Richard is a seasoned Engineer who has worked in the Industry since 1986 in Ontario, British Columbia, Quebec and Newfoundland & Labrador, as well as the United States, Venezuela, and Cuba. Richards’s experience spans from protection and control and substation design work, as well as power system studies, and design of protection panels for electrical utilities and large industrial customers. He has worked on transmission facilities, distribution substations, and various power and infrastructure projects. Richard holds a Master Degree in Engineering from the University of Bath, UK. Richard has been involved in Lenders’ Technical Advisory for Power and Utilities Sector for over 35 years. He has managed and directed LTA reviews for a large variety of Projects in the Power Sector. He is familiar with issues associated with the development stage of power and infrastructure projects and issues which concerns Lenders.

Rashid Mirza

Executive Director - LTA Practice Asia

Rashid Mirza is a seasoned banking professional with over three decades of experience in corporate and investment banking, specializing in project finance and energy sector transactions. His expertise spans project appraisal, financial modeling, risk analysis, and negotiation of complex financial agreements. Throughout his career, Mirza has held leadership positions at National Bank of Pakistan (NBP), including Head of Project Finance and Agency & Trustee

Wings, and Acting Divisional Head of Investment Banking Division. While heading the Project Finance and Agency & Trustee Wings he was responsible projects financing, implementation and monitoring. Mirza has remained extensively involved in carrying out various tasks leading to development of complex power and infrastructure projects, which include RFO, RLNG, Hydro, solar & wind power projects plus oil pipelines and motorways. Mirza’s expertise

encompasses project appraisal and evaluation, designing of computer based financial models, structuring of projects financing plan strategies, assessment of project agreements from commercial and financial viewpoint, risk analysis, negotiation of Security Package Agreements with parties, monitoring/supervision of projects under construction and operating phases.

He had played key role in financial structuring and tariff determination process of Hub Power Company Limited 1200 MW project and the first 82-Km pipeline project conceived in Pakistan to transport RFO from Port Qasim to Hubco. He was the lead member of the team responsible for; i) support services, provided to MoF towards settlement of Hubco tariff issue; and ii) Asia Petroleum Limited tariff determination and finalization of the Implementation Agreement on

BOO/BOOT basis. Mirza remained instrumental in structuring and executing numerous high-profile transactions, including power generation projects, infrastructure development, and telecom sector deals. Mirza's experience includes successful closure of landmark transactions conceived under Power Policy 1994 to Power Policy 2015. Some of the mega landmark transactions concluded by Mr. Mirza entails the following:

 Hub Power Company Limited (Hubco) 1200MW

 Uch Power Limited 586MW

 Rousch Power Private Limited 412MW

 Laraib Energy Limited (Hydro Power) 84MW

 Asia Petroleum Limited (82-KM Pipeline Project)

 National Power Parks Management Company Limited 1200MW

 Quaid-e-Azam Thermal 1200MW

 Lucky Electric Power Company Limited 660MW

 Punjab Thermal Private Limited (PTPL) 1200MW

 K-Electric 900MW RLNG project.

 WAPDA DASU Hydro Power Project.

 Road infrastructure project “Swat Expressway Planning Construction

 Telecom sector transaction of Pakistan Mobile Communication limited and PTML/Ufone

Other significant transactions closed entail; i) Askari Cement Ltd; ii) Associated Technologies; iii) Engro Polymers & Chemicals; iv) Ismail Resin (Pvt) Ltd; v) RKY Mills Limited; vi) Sadaqat Limited; and vii) Al Haj Automotive (Pvt) Limited

Mr. Mirza possesses expertise in project finance and has a proven track record in managing inter-creditor agent and trustee functions, project monitoring, and issue handling. Mr. Mirza holds a master’s degree from the leading business school in Asia, the Asian Institute of Management, Manila, Philippines and has extensive experience/expertise making him a valuable asset to any organization seeking to navigate complex project finance transactions and energy sector

Usra Saleem

Head of Architectural Lighting & Interior Design - LTA Practice

Usra Saleem has been associated with us since 2015 and looks after the Architectural Lighting & Interior Design domain at Binder Group’s IEA Practice. She has earned a Master’s Degree in Architectural Interior Design from the Inchblad School of Design in London & BBA, MBA from IOBM (CBM) With an innate creative flair and an unwavering commitment to high quality, Usra has successfully spearheaded various design projects in Pakistan, United Sates and the United Kingdom.

                                 

Binder's Projects

Amongst many, some Prestigious Projects handled by Binder are:

+ Jenner Fenton Slade

+ 1 - 4 Group, USA

+Fadcloset, USA

+MichaelFar, USA

+ American Building Technologies

+ MAK Construction Associates USA

+ La Neur USA

+ Doha Bank Limited, Qatar

+ Hub River Power Project (HUBCO)

+ Uch Power Project

+ Gul Ahmed Energy

+ Asia Petroleum Limited (APL)

+ Premier Container Terminal

+ Thatta Power Private Limited

+ Davis Energen Limited

+ Schon Group

+ Pakistan Container Terminal

+ National Fibers Limited

+ Gul Ahmed Group

+ National Development Finance Corporation (NBP)

+ Pak Iran Investment Company

+ National Bank of Pakistan

+ Pakistan Development Banking Institute

+ Trade Commission of Romania, Pakistan

+ Pakistan Romania Business Council

+ Raiwand Power Project

+ Allama Iqbal Open University

+ Marine Services Group

+ Dadu Power Private Limited

+ Shikarpur Power Private Limited

+ Hyderabad Mirpurkhas Dual Carriageway Project

+ Thatta Cement Company Limited

+ Fecto Cement Captive Power Project

+ Pakistan Ethanol Private Limited (PEPL)

+ Firpo Group of Companies

+ Sheikhupura Gujranwala Toll Road Project

+ Deokjae Connecting Road Private Limited

+ Shajar Roads Limited

+ Fecto Cement Limited

+ Master Tiles & Ceramic Industries Limited

+Solis Energy Solution - PV Solar Plants at 18 Pak Army Garrisons

             

            Binder Acted as LIA to these Prestigious Clients:

 

A BINDING FORCE !