Askari General Insurance Company Limited has informed the Pakistan Stock Exchange (PSX) that the proposed transfer of a majority stake in the company from the Army Welfare Trust (AWT) to the Fauji Foundation (FF) has been completed.
According to the company’s disclosure dated September 1, 2026, AWT confirmed that the transaction was executed on August 28, 2026. As a result, 51,337,953 ordinary shares, representing 51% of Askari General Insurance’s total issued and paid-up share capital, have been transferred from AWT to FF.
The transfer follows earlier disclosures made by the company in July regarding the proposed movement of the 51% shareholding at carrying cost. With the transaction now completed, the Fauji Foundation has taken over the 51% shareholding previously held by the Army Welfare Trust.
Importantly, Askari General Insurance clarified that the transaction does not constitute an acquisition or merger in the nature of commercial investment activity that could have an impact on the market or competition. The company also stated that the transaction does not result in any material change to the ultimate beneficial or economic control of the company.
The disclosure was issued to inform market participants and TRE Certificate Holders of the completion of the share transfer. A copy was also addressed to the Insurance Division of the Securities and Exchange Commission of Pakistan (SECP).
The development marks the completion of a significant ownership restructuring at Askari General Insurance, while the company has emphasized that the transaction does not materially alter its ultimate beneficial or economic control.
