Karachi: In a strategic move to meet regulatory capital requirements and strengthen its financial foundation, Century Insurance Company Limited has announced the submission of final offer documents for a substantial rights issue. The company aims to issue 44,814,452 ordinary shares at a price of PKR 10 per share, aggregating to a total of PKR 448.14 million.

The move, approved by the Board of Directors on September 11, 2026, is designed to bolster the company's paid-up capital, which presently stands at PKR 553 million. The planned increase to PKR 1,001 million by December 31, 2026, is in compliance with the minimum capital requirements set by the Securities & Exchange Commission of Pakistan, as per S.R.O 310(I)/2025, dated March 3, 2025. This compliance is critical to enhance the company's underwriting capacity and financial leverage.

According to information available from the Pakistan Stock Exchange (PSX), the rights issue will see approximately 81% of the existing paid-up capital issued as new shares to current shareholders. The directors attending the pivotal board meeting included Chairman Mr. Iqbal Ali Lakhani, among other distinguished members.

The funds raised are earmarked for strengthening the company's investment portfolio to achieve optimal risk-adjusted returns and for enhancing its capital base and solvency margins. The entire proceeds from this rights issue will be utilized to meet these objectives, with no funds sourced from other channels.

This financial maneuver is pivotal for Century Insurance Company Limited, providing it with the necessary capital to meet regulatory requirements and positioning it for sustainable growth in the insurance sector.