Karachi: East West Insurance Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on March 28, 2016.
The agenda of the meeting was discussion of profit and loss account for the year ended Dec 31, 2015 which portrayed a profit of Rs. 131,252 and earnings per share 2.91 basic and diluted.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
The annual general meeting of the company is scheduled to be held on April 27, 2016 at the registered office of the company in Quetta.
Further, the share transfer books of the company will remain closed from April 20, 2016 to April 27, 2016 (both days inclusive).
East West Insurance Company Limited is a public limited company incorporated in Pakistan in the year 1983. The foundations of the company have been laid under the Companies Ordinance, 1984. The sister concern of the company is East West Insurance Company Limited. The company is engaged in the general insurance business and operates through 52 branches in Pakistan. Besides traditional Insurance business like Fire, Marine & Motor, the company underwrites specialized portfolios for which it has created specialized divisions within the company namely, Engineering, Crops and Livestock divisions. The company business is diversified and provides coverage to a wide range of agricultural and commercial business activities. The stock of the company is quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located Quetta. The core operation of the company is conducted through the office located in Karachi.
The symbol “EWIC” is being used by the stock exchanges for the shares of East West Insurance Company Limited.