Karachi: Reliance Insurance Company Limited has announced the upcoming election of its board of directors, scheduled to take place during the 43rd Annual General Meeting of the company on April 30, 2025. The meeting will be held at the company's head office in Karachi.

The notice, issued under Section 159(4) of the Companies Act, 2017, will be published in Daily Business Recorder and Nawa-e-Waqt on April 22, 2025. The company has informed the TRE Certificate Holders of the Pakistan Stock Exchange to ensure transparency and compliance with regulatory requirements.

The candidates offering themselves for election as directors include Mr. Irfan Zakaria Bawany, Mr. Muhammad Omar Bawany, Mr. Ahmed Ali Bawany, Mr. Noor M. Zakaria, Mr. Zia Zakaria, Mr. Muhammad Patel, Mr. Naeem Ahmed Shafi, Ms. Tasneem Yusuf, and Mr. Jahangir Adam. Their profiles are accessible on the company's website.

According to information available from the Pakistan Stock Exchange (PSX), the number of candidates does not exceed the number of director positions set by the Board of Directors under Section 159(1) of the Companies Act, 2017. As a result, the named candidates will be deemed elected at the forthcoming annual meeting.

The inclusion of Mr. Naeem Ahmed Shafi, Ms. Tasneem Yusuf, and Mr. Jahangir Adam as independent directors complies with Section 166 of the Companies Act, 2017, in conjunction with the Companies (Manner and Selection of Independent Directors) Regulations, 2018. Their presence is intended to ensure a balanced representation on the board.

Reliance Insurance Company Limited operates within the designated market category of the insurance sector, providing various insurance services to its clients. The election of directors is a routine but essential process to ensure the company's governance aligns with its strategic objectives.