Karachi: The Pakistan General Insurance Company Limited has announced the approval received from the Securities and Exchange Commission of Pakistan (SECP) for the issuance of 93.60 million ordinary shares, as per a report dated August 11, 2026.

The SECP, in a letter dated August 10, 2026, granted approval under Section 83 1 b of the Companies Act, 2017. This significant move involves issuing shares with a face value of Rs 10 each. Importantly, the issuance will occur otherwise than by way of right and in cash. The shares are being issued against property contributions made by Mr. Muhammad Shahzad Habib and Ms. Bushra Shahzad in equal proportions.

According to information available from the Pakistan Stock Exchange (PSX), the company is set to complete all necessary corporate and regulatory formalities. This includes ensuring compliance with all applicable regulatory requirements linked to the issuance of these shares.

The insurance sector, a key component of the financial services designated market category, is witnessing this development as Pakistan General Insurance Co. Ltd. moves forward with its strategic plans. The company has committed to adhering to the stipulated guidelines as it progresses with this issuance.