Karachi, The Pakistan Reinsurance Company Limited (PRC) has announced the postponement of the election of directors, extending the timeline to April 30, 2024. The decision comes in response to a directive from the Securities and Exchange Commission of Pakistan (SECP) CRO-Karachi.

The SECP, acting under Section 158 (3) of the Companies Act, 2017, has directed PRC to hold the election of directors in accordance with relevant provisions of the Act and allied laws, rules, and regulations made thereunder.

This postponement follows a previous letter issued by PRC on March 8, 2023 (Ref No. PRC/CS/2023/3/1), in which the company had initially addressed the matter.

PRC assures stakeholders that it will provide updates on any further developments related to the election of directors.