SECP Approves Transfer of Askari Life Assurance Shareholding to Fauji Foundation
SECP approves the transfer of a 51 percent majority stake in Askari Life Assurance from Army Welfare Trust to Fauji Foundation under Insurance Ordinance guidelines.
SECP Approves New Annuity Products to Modernize Pakistan Retirement System and Financial Security
The Securities and Exchange Commission of Pakistan introduces a range of new annuity products including life-contingent and hybrid schemes to ensure stable post-retirement income.
PQFTL Opens Book Building for Rs1.1bn IPO as Pakistan’s First Family Takaful Listing
Pak-Qatar Family Takaful Limited has opened book building for its Rs1.1bn IPO, marking Pakistan’s first-ever public offering by a dedicated Family Takaful company and attracting strong institutional interest.
SECP Introduces Standardized Financial Statement Formats for Life and Non-Life Insurers
The Securities and Exchange Commission of Pakistan has rolled out new financial statement formats for life and non-life insurance companies, aligning the sector with IFRS 17 standards and global reporting practices.
Adamjee Insurance to Divest 6.5% Stake in Adamjee Life to Meet PSX Free-Float Rule
Adamjee Insurance announces the sale of a 6.5% stake in its subsidiary Adamjee Life Assurance via off-market transactions to comply with PSX free-float regulations, reducing its ownership from 90% to 83.5%.