Karachi, Askari Life Assurance Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on March 14, 2019.
The agenda of the meeting was discussion of profit and loss account for year ended December 31, 2018 which portrayed a loss of Rs. 112,993 with loss per share 1.82 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from April 18, 2019 to April 24, 2019 (both days inclusive).
Askari Life Assurance Company Limited, formerly East West Life Assurance Company Limited, is a Pakistan-based company, which is engaged in life and health insurance business. The Company extends individual life insurance, and group or corporate life, accidental and health insurance to companies across Pakistan. Its segments are ordinary life, universal life, and accident and health. Its ordinary life segment provides life assurance coverage to individuals under conventional policies issued by the Company, and members of business enterprises, and corporate entities under life insurance schemes issued by the Company. Its universal life segment provides life assurance coverage to individuals under universal life policies issued by the Company. Its accident and health segment provides health coverage to individuals members of enterprises, corporate entities and common interest groups under health insurance schemes. Its products include individual life and accident insurance plans.