Karachi: The United Insurance Company of Pakistan Limited has announced significant strategic decisions, according to a disclosure made under Rule 5.6.1 of the Rule Book of Pakistan Stock Exchange Limited and the Securities Act, 2015. The announcement, dated November 13, 2026, highlights two major developments for the company.

The Board of The United Insurance Company of Pakistan Limited has approved plans to venture into the Family Takaful business. The company is currently in the process of obtaining the necessary regulatory approvals from the Securities and Exchange Commission of Pakistan (SECP) to facilitate this expansion. This move marks a significant diversification in the company's portfolio, aligning with its long-term growth strategy.

In a parallel development, the company has decided to sell its entire shareholding in Apna Microfinance Bank Limited to Mobilink Microfinance Bank Limited. This decision, made through a board resolution on November 12, 2026, is part of a proposed transaction that is contingent upon receiving all required corporate, regulatory, and third-party approvals. The terms and conditions of the sale are outlined in a Share Purchase Agreement between The United Insurance Company and Mobilink Bank.

According to information available from the Pakistan Stock Exchange (PSX), these strategic moves underscore The United Insurance Company's commitment to optimizing its business operations and focusing on areas with potential for growth and innovation.

The proposed sale of shares and the entry into the Takaful business are both subject to successful negotiations, completion of due diligence, and the finalization of commercial terms. No definitive agreements have been executed at this stage, and the company remains in the process of obtaining all necessary approvals and consents.

These initiatives reflect The United Insurance Company's proactive approach to navigating the evolving financial landscape, with implications for stakeholders and the broader market category.