Askari Life Assurance Company Limited has announced the completion of a major shareholding transfer involving 51% of the company’s issued and paid-up share capital.
According to the company’s disclosure to the Pakistan Stock Exchange dated September 1, 2026, 76,587,727 ordinary shares, representing a 51% stake in Askari Life Assurance, were transferred from Army Welfare Trust (AWT) to Fauji Foundation (FF). The transaction was executed on August 28, 2026, at carrying cost.
The company said it had previously disclosed the proposed transaction in announcements dated July 8, July 17 and July 24, 2026. With the transaction now completed, the shares have been repositioned from AWT to FF.
Importantly, Askari Life Assurance clarified that the transaction does not constitute an acquisition or merger, nor does it represent a change in control in the nature of commercial investment activity that could affect the market or competition.
The company also emphasized that the transfer does not result in any material change in the ultimate beneficial or economic control of Askari Life Assurance. This clarification provides important context for investors, indicating that the transaction is primarily a restructuring or repositioning of the existing shareholding rather than a change in the company’s underlying control structure.
Askari Life Assurance has requested that the relevant market participants and TRE Certificate Holders of the Pakistan Stock Exchange be informed accordingly.
The development highlights an important change in the ownership structure of one of Pakistan’s insurance-sector companies, while the company’s disclosure makes clear that the transaction itself does not alter its ultimate beneficial or economic control.
