Board meeting of Universal insurance Company Limited

Karachi, Universal insurance Company Limited informed Karachi Stock Exchange that board meeting of the company will be held on January 16, 2016. The agenda of the meeting shall be filling the casual vacancy in the board of directors of the company.

Further, the closed period of the company shall be from January 11, to January 18, 2016.

Universal Insurance Company Limited is a public limited company incorporated in Pakistan on May 9, 1958. The foundations of the company rely on the Companies Act, 1913 now referred to as Companies Ordinance, 1984. It is engaged in the business of non-life insurance business. The services of the company includes motor insurance, marine insurance, fire insurance, miscellaneous insurance, travel insurance and claim settlement procedures. The registered office of the company is located in Lahore. The stocks of the company are quoted on Karachi and Lahore Stock Exchange of Pakistan.

The company is a part of the Bibojee Group of Companies. The operations of the company started in 1960. The reinsurers of the company are Hanover Reinsurance Company of West Germany, Somitomo Marine and Fire Insurance Company of Japan, Korean Reinsurance Company of Korea and J.B Boda& company broker of Singapore.

This clientage of the company includes Textile/Spinning Mills, Flour Mills, Sports and Surgical Manufacturers, Garment Factories, Sugar Mills, Ghee Industries and various other industrial projects the number of which runs over fifteen thousand. The company is also on the approved panel of all the local and foreign Banks/Financial Institutions/Leasing Companies and Modarabas etc.

The symbol “UVIC” is being used by the stock exchange for the shares of Universal Insurance Company Limited.