March 29, 2024

Irshad Ali Shaaban appointed new Chairman of PICIC Insurance

irshad-ali-s-kassim-picKaram Group acquired major shares of PICIC  insurances Limited and take over the Management of PICIC Insurance which is fourth largest insurance company in marine and health sector. Mr. Irshad Ali Shaaban has been appointed new Chairman of PICIC Insurance Limited. this was decided in its Board of Directors on last week.The Karam Group has acquired 60 per cent of the shares of PICIC Insurance. Irshad Kassim is also the Chairman and CEO of Karam Ceramics Ltd. Irshad Kassim has taken over the charge of the charge of the Chairman PICIC on Friday following the meeting of Board of Directors held PICIC Insurance’ head office.The board of directors has also intimated all the stock exchanges of Pakistan about his appointment as Chairman. Mr. Irshad Ali Kassim is also Consul General of Tajikistan and played a vital role in boosting trade between the two countries. He was also pioneer of agreement of the purchase of 1000 MW power from Tajikistan. Irshad Kassim brings with him a vast experience in trade and industry and banking sector as well. He is also the member Board of Director KASB Bank Ltd. Irshad Kassim has taken over the charge of the charge of the Chairman PICIC on Friday following the meeting of Board of Directors held PICIC Insurance’ head office on Friday. The board of directors has also intimated all the stock exchanges of Pakistan about his appointment as Chairman. Earlier PICIC Insurance Limited is a part of the Temasek Group. NIB Bank Limited a Temasek’s subsidiary in Pakistan, is a major shareholder of PICIC Insurance Limited with a 30% stake.

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