United Insurance Company earns Rs 250 million profit, declares 31 per cent bonus shares to shareholders
Islamabad, April 29, 2014 (PPI-OT): The 54th Annual General Meeting (AGM) of the United Insurance Company (UIC) was held on Tuesday.
Speaking at the AGM, Chairman UIC Khawas Khan Niazi said that the company has earned Rs 250 million as profit while conducting annual business of Rs 1720 million in 2013.
He declared 31 per cent bonus shares to the shareholders and said that authorised capital has been enhanced up to Rs 2.00 billion and paid up capital to Rs 920 million.
Niazi said that the company is progressing well due to the proper leadership and dedication of the entire staff.
He highlighted the significant progress that has been made, under the guidance of Board’s having right mix of relevant experience and qualifications to continue executing on strategic plans.
At the occasion, Group Chairman Mian Shahid shed light on the future plans of the company and informed shareholders about Islamic insurance and some other products which would be introduced in the market soon.
He highlighted some key strategic initiatives to improve the overall operating performance and profitability of the company.
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United Insurance Company (UIG)