Appointment of Directors of Jubilee Life Insurance Company Limited

Karachi, Jubilee Life Insurance Company Limited informed Pakistan Stock Exchange that the Shareholders of the Company have elected the Directors in their Annual General Meeting held on March 30, 2023 for a period of three years commencing from March 31, 2023.

Jubilee Life Insurance Company Limited was incorporated in Pakistan on June 29, 1995 as a Public Limited Company. The Company started its business on June 20, 1996 and engaged in life insurance, carrying on non-participating business. In accordance with the requirements of the Insurance Ordinance, 2000, the Company has established a Shareholders’ fund and following statutory funds in respect of each class of its life insurance business. The company is a subsidiary of Aga Khan Fund For Economic Development, S.A, Switzerland.

The total number of shares of the Company is 87,263,748. The Earnings per share of the Company is 33.05 in 2020 which was 25.49 in 2019. Their Profit after Taxation is 2,884,380,000 in 2020 which was 2,224,230,000 in 2019.