EFU Life becomes a subsidiary of EFU General Insurance

MG News | March 28, 2018 at 12:41 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

In a notification released on the bourse, EFU General Insurance has informed the stakeholders that after reviewing its investments in EFU Life Assurance Limited it now has the “ability to control the composition of Board of Directors EFU Life Assurance.”

The notice mentioned that in a Board of Directors meeting of EFU General Insurance, the company has reviewed its investments in EFU Life Assurance assessing its control proposition. Therefore, it concluded in the meeting that EFU Life Assurance is now a subsidiary of the company.

In accordance of the Section 228 of the Companies Act the two companies will now prepare and present consolidated financial statements from now on.

The said notice can be accessed here.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	184,903.60 177.29M	0.21% 382.64
ALLSHR	111,900.69 426.31M	0.56% 626.96
KSE30	55,226.68 40.82M	0.26% 143.49
KMI30	262,163.50 49.55M	0.32% 848.99
KMIALLSHR	72,083.73 263.43M	0.54% 385.09
BKTi	51,715.81 12.04M	0.07% 34.87
OGTi	37,974.81 11.46M	1.84% 686.92

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	61,945.00	62,055.00 61,420.00	290.00 0.47%
BRENT CRUDE	71.70	72.49 71.35	-0.10 -0.14%
RICHARDS BAY COAL MONTHLY	107.50	0.00 0.00	-0.50 -0.46%
ROTTERDAM COAL MONTHLY	121.80	121.80 121.80	0.70 0.58%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	68.48	69.26 68.14	-0.21 -0.31%
SUGAR #11 WORLD	14.81	15.17 14.81	-0.18 -1.20%