Islamabad, Mar 27, 2025: The Board of Directors of The United Insurance Company of Pakistan Limited (PSX: UNIC) has sanctioned the sale of 59,940,632 common shares in Apna Microfinance Bank Limited, as per the company’s announcement to the stock exchange on Thursday.
This divestment is contingent upon approval from shareholders at UIC’s upcoming Annual General Meeting, set for April 25, 2025.
The disclosure has been made in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Rule Book.
The core function of the company revolves around General Insurance services, categorizing it as a domestic insurer under the Insurance Ordinance, 2000.
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The company specializes in multiple insurance sectors, including Fire & Property Damage, Marine Aviation & Transport, Motor, Crop, and various other General Insurance services.
Additionally, the Securities and Exchange Commission of Pakistan (SECP) authorized the company to initiate Window Takaful Operations on August 18, 2014, under the framework of the Takaful Rules, 2012.
It is noteworthy that the company solely operates within Pakistan and has not engaged in any insurance activities beyond national borders.
