Karachi: Askari General Insurance Co. Ltd. has announced a decision to double its authorized capital following a resolution passed at an extraordinary general meeting (EOGM) held on August 29, 2025. The company’s authorized capital will increase from PKR 1 billion, divided into 100 million ordinary shares, to PKR 2 billion, divided into 200 million ordinary shares.

This resolution involves amendments to both the Memorandum and Articles of Association of the company. The changes are subject to the approval of the company’s members and the Securities and Exchange Commission of Pakistan. The amendments will allow the company to increase, reduce, modify, subdivide, consolidate, or reorganize its capital and the classes of shares it may issue.

According to information available from the Pakistan Stock Exchange (PSX), the ordinary shares, once issued, will carry voting rights and will rank equally with the existing shares in all respects. This move is in accordance with the provisions of the Companies Act 2017.

The company’s Chief Executive Officer and Company Secretary have been authorized to undertake all necessary actions to complete the legal and corporate formalities required to implement these changes. This includes filing the requisite documents with the Registrar and obtaining necessary approvals from the Securities Exchange and Commission of Pakistan.

The resolutions passed at the EOGM have been confirmed to accurately reflect the proceedings of the meeting held on August 29, 2025. The company’s decision places it in the designated market category of insurance.