The Securities & Exchange Commission of Pakistan (SECP) has granted conditional permission to the Pakistan General Insurance Co. Ltd. (PSX: PKGI) to commence its operations. This significant development was revealed in a filing by the company on the Pakistan Stock Exchange (PSX) today.
The conditional permission is contingent upon the fulfillment of specific requirements outlined by the SECP in a letter dated March 29, 2024. PKGI has been diligently working towards meeting these conditions to ensure compliance with regulatory standards.
PKGI is primarily focused on providing general insurance services across various domains, including Fire and property damage, Marine, aviation, and transport, Motor, and Miscellaneous insurance. With the conditional approval from the SECP, PKGI is poised to enter the insurance market and offer its comprehensive range of services to customers.
At the time of reporting, PKGI’s shares are being actively traded at Rs4.8 on the PSX, reflecting a marginal increase of 2 paisa or 0.42% compared to the previous session’s closing price. This positive movement indicates investor optimism surrounding the company’s prospects following the regulatory approval.
