Adamjee Insurance to Divest Stake in Adamjee Life

Adamjee Insurance Company Limited (AICL) has announced its decision to divest 6.5% of its shareholding in its subsidiary, Adamjee Life Assurance Company Limited (ALIFE). This divestment involves a total of 16.25 million shares.

The company, which is listed, communicated this development to the Pakistan Stock Exchange (PSX) in a formal notice issued on Friday.

According to the notification, during an urgent meeting on June 20, 2025, the board of directors of AICL resolved to offload 16,250,000 shares, representing 6.5% of its stake in ALIFE. This transaction will be executed through off-market trades on the PSX Portal to meet the free-float requirements outlined in Clause 5.4.1 of the PSX Regulations.

Following the completion of this transaction, AICL’s ownership in ALIFE will decrease from 225,000,000 shares, equivalent to 90% of the paid-up capital, to 208,750,000 shares, which represents 83.5% of the total.

Adamjee Insurance, initially incorporated in Pakistan on September 28, 1960, under the former Companies Act of 1913, now operating under the Companies Act, 2017, is involved in the general insurance sector.