The Securities and Exchange Commission of Pakistan (SECP) has announced the withdrawal of its press release dated May 21, 2025, concerning United Insurance Company of Pakistan Limited.
The earlier directive, issued on May 20, had ordered the insurer to cease its fresh guarantee business, which SECP had made public in the May 21 statement.
However, following a petition by United Insurance, the Islamabad High Court suspended SECP’s directive. As a result, the regulator formally declared that its press release of May 21 now stands withdrawn.
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SECP confirmed that it will comply with the court’s order while the case proceeds.
The development underscores the growing judicial oversight of regulatory decisions in Pakistan’s insurance sector, where SECP has recently tightened scrutiny over compliance and governance standards.
