Karachi, Century Insurance Company Limited convened its Annual General Meeting (AGM) on April 23, 2024, where members passed significant resolutions as mandated by the Pakistan Stock Exchange regulations.
The AGM approved the transactions made with associated companies and related parties during the fiscal year ending December 31, 2023. These transactions were previously disclosed in the audited financial statements under Notes 35 and 30, which cover Conventional and Window Takaful Operations, respectively. The resolution ratified these past transactions and confirmed their alignment with the company's standard business practices.
In addition, the AGM granted the Chief Executive Officer extensive powers to manage and approve future transactions with associated companies and related parties for the upcoming fiscal year ending December 31, 2024. This authorization includes signing necessary documents and taking required actions on behalf of Century Insurance to facilitate these transactions.