Financial results of Asia Insurance Company Limited for the period ended Dec 31, 2015

Karachi, Asia Insurance Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on April 05, 2016.

The agenda of the meeting was discussion of profit and loss account for the year ended Dec 31, 2015 which portrayed a profit of Rs. 68,324,564 and earnings per share 2.28 basic and diluted.

Further, bonus shares in proportion of 20 shares for every 100 shares i.e. 20%, nil payment of cash dividend and right shares was agreed.

The annual general meeting of the company is scheduled to be held on April 30, 2016 at Lahore.

Further, the share transfer books of the company will remain closed from April 24, 2016 to April 30, 2016 (both days inclusive).

Asia Insurance Company Limited was established in 1979 as a Public Limited Company and commenced its business in 1980. The company is a composite insurance company which has been authorized by the department of insurance to transact all classes of general insurance business like fire and allied perils, marine cargo, motor, personal /travel personal accident, burglary, student insurance cash in transit and safe, fidelity, machinery breakdown, contractor all risk, erection all risk, custom bond, bid bond and mobilization advance bond, etc. The company has a vast network of branches in all the major cities of Pakistan. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located at Lahore.

The symbol “ASIC” is being used by the stock exchanges for the shares of the Asia Insurance Company Limited.