Karachi, Adamjee Insurance Company Limited informed Pakistan Stock Exchange that the Company had decided to make investment of PKR 1,564.47 million in Adamjee Life Insurance Company Limited (ALACL), a wholly owned subsidiary by subscribing 156,447,673 right shares offered by the Company at par value of Rs. 10/- each.
Adamjee Insurance Company Limited is the general insurance company of Pakistan, and was incorporated as a Public Limited Company on September 28, 1960. The Company is listed on Pakistan Stock Exchange Limited and also has regional presence in United Arab Emirates.
The Company is principally engaged in the general insurance business comprising fire and property, marine, motor, accident, health and miscellaneous. The shares of the Company are listed on Pakistan Stock Exchange.
The total number of shares the company has issued are 350,000,000 where the Earnings per Share in 2020 is 5.36 which was 5.18 in 2019. The Profit after Taxation has also increased in 2020 and is 1,875,506,000 which was 1,812,975,000 in 2019.