Karachi: Crescent Star Insurance Limited (CSIL) has announced its 69th Annual General Meeting (AGM) to be held on April 30, 2026, at 9:00 a.m. at Nadir House, I.I. Chundrigar Road, Karachi. This meeting aims to discuss and approve key corporate governance matters, including the confirmation of minutes from the previous AGM, adoption of audited financial statements for the year ending December 31, 2025, appointment of auditors for the year 2026, and election of eight directors.
The agenda reflects the company's ongoing commitment to transparency and accountability to its shareholders. The meeting will address ordinary business items, including the approval of financial statements and reports, as well as the election of directors who are eligible for re-election.
According to information available from the Pakistan Stock Exchange (PSX), Crescent Star Insurance Limited, one of the oldest insurance companies in Pakistan, with a paid-up capital of Rs 1.08 billion, remains compliant with the required minimum capital standards. The company has been navigating challenges in its business operations, primarily due to the discontinuation of the Afghan transit business, which led to a 56% decrease in net premium. Despite these challenges, the company reported a net profit, bolstered by a 131% increase in investment income year-on-year.
The company's financial performance over the last three years shows fluctuations, with gross premiums reported at Rs 79.29 million in 2025, and net premiums at Rs 97.79 million for the same year. Profit before tax was recorded at Rs 34.27 million, while profit after tax stood at Rs 20.94 million. The total assets of the company reached Rs 1.64 billion, reflecting a stable financial position.
Crescent Star Insurance's efforts to adapt to changing market conditions include expanding its travel insurance segment and pursuing strategic mergers, such as the anticipated merger of its subsidiary Crescent Star Foods (Pvt) Ltd with PICIC Insurance Limited. The company also plans to restructure another subsidiary, Crescent Star Luxury (Pvt) Ltd, into Crescent Star Ventures (Pvt) Ltd, aiming to enter the advisory services for capital markets.
As the company looks forward to its AGM, it continues to emphasize its strategic initiatives aimed at enhancing shareholder value and sustaining financial growth amidst an evolving insurance landscape in Pakistan.