Karachi: PICIC Insurance Limited informed Karachi Stock Exchange about the election of directors at the 10th annual general meeting of the company held on April 7, 2014. The election of directors will be in accordance with section 178 of the Companies Ordinance, 1984. Further, the appointment of the elected directors will be subject to approval of the Commissioner Insurance Division, Securities and Exchange Commission of Pakistan. PICIC Insurance Limited was incorporated on April 23, 2004 under the Companies Ordinance 1984 as a public limited company and registered as a non-life insurance company by the Securities and Exchange Commission of Pakistan under the insurance ordinance, 2000. The registered office of the company is located at Karachi. The company is listed on the Karachi, Lahore and Islamabad stock Exchanges of Pakistan. PICIC Insurance Limited is a part of the Temasek Group operating in Pakistan. NIB Bank Limited a subsidiary of the Temasek Group in Pakistan is a shareholder of PICIC Insurance Limited with a 30% stake. The symbol “PIL” is being used by the stock exchange for the shares of PICIC Insurance Limited.
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