Karachi: Askari General Insurance Company Limited has announced a significant corporate development involving the transfer of 51% of its shares and control. The company's disclosure, dated July 17, 2026, follows an earlier notification referenced PSX/AGICO/PSI/Restr/01/2026, dated July 8, 2026.

The Securities and Exchange Commission of Pakistan has issued a confirmation letter, numbered SMD/PMADD/FF/Cl/MISC/40/2026-40 and dated July 15, 2026. This letter states that the transaction is exempt from the requirements of Part IX of the Securities Act, 2015, as well as the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

According to information available from the Pakistan Stock Exchange (PSX), the transaction's exemption means that the regulatory oversight typically associated with substantial acquisitions will not apply in this instance.

This development has been communicated to the TRE Certificate Holders of the Exchange, ensuring that all relevant parties are informed of the change in the company's control structure.