Board of directors meeting of IGI Insurance Limited
Karachi, IGI Insurance Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on December 29, 2017 at Lahore to consider and if deemed appropriate, approve the segment wise audited Statement of Net Assets of the Company as at January 31, 2017 in terms of the Scheme of Arrangement sanctioned by the High Court vide its order dated December 16, 2017 for the purpose of determining the actual number of shares to be issued to the Company by IGI General Insurance Limited and IGI Investments (Pvt.) Limited under Article 13 of the Scheme of Arrangement . Further, the company has declared the closed period from December 28, 2017 to December 29, 2017. IGI Insurance Limited a Packages Group Company, was incorporated in Pakistan as a public limited company in 1953 under Companies Ordinance, 1984. The insurance company is engaged in providing general insurance services in spheres of Fire, Marine, Motor, Health and Miscellaneous. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the Company is located in Karachi. The company is currently engaged in the process of acquisition of American Life Insurance Company for the acquisition of ownership interest of 40,986,690 ordinary shares representing approximately 81.97% of the total issued, subscribed and paid up capital shares of the company. The associated companies of the group includes packages limited, nestle Pakistan Limited, Sanofi-Aventis, Tri-Pack Films Limited, Treet Corporation Limited, Siemens Pakistan Engineering Company Limited, Coca-Cola Beverages Pakistan Limited, Mitchell’s Fruit Farms Limited, Zulfeqar Industries Limited, Loads Limited, IGI Investment Bank Limited and IGI Securities Limited. The symbol “IGIIL” is being used by the stock exchanges for the shares of IGI Insurance Limited.