SECP Approves Postal Life Insurance

The Securities and Exchange Commission of Pakistan (SECP) has allowed Postal Life Insurance Company Limited to conduct life insurance business and issued a notification S.R.O. 507 (I)/2021 in this regard on Wednesday. ALSO READ SECP Gives Major Powers to Officers of the Insurance Division According to the notification, pursuant to sub-section (1) of section 10 of the Insurance Ordinance, 2000, it is hereby notified that the SECP, in the exercise of the powers conferred under sub-section (1) of section 7 of the Ordinance, has registered Postal Life Insurance Company Limited to conduct life insurance business as provided under clause (a) of sub-section (1) of section 4 of the Ordinance, except the classes of life insurance business as provided under clause (b), (c), and (d) of sub-section (1) of section 4 of the Ordinance, with effect from 26 August 2020, and allowed the commencement of business with effect from 20 January 2021.