Pakistan Company News – Financial results of Askari General Insurance Company Limited for Year ended December 31, 2018

Financial results of Askari General Insurance Company Limited for Year ended December 31, 2018

Karachi, Askari General Insurance Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on March 01, 2019.

The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2018 which portrayed a profit of Rs. 295,768 with earnings per share 4.73 basic and diluted respectively.

Further, 15% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from April 15, 2019 to April 24, 2019 (both days inclusive).

Askari General Insurance Company Limited is a company incorporated in Pakistan on April 12, 1995 as a public limited company. The commercial operations of the company commenced from October 15, 1995. The foundations of the company are laid under the fundamentals of the Companies Ordinance, 1984. The company is engaged in the business of non-life insurance business comprising of fire, marine, motor, accident, health and miscellaneous. The insurance company has around 19 branches located across Pakistan. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Rawalpindi.

The company is sponsored by the Army Welfare Trust which is itself engaged in the business of finance, banking and production of consumer goods and service. The company apart from traditional coverage offers specialized coverage for various engineering risks.

The symbol “AGIC” is being used by the stock exchanges for the shares of Askari General Insurance Company Limited.

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