SECP revokes registration of foreign insurance company in Pakistan
- By Web Desk -
- Nov 24, 2023
ISLAMABAD: The Securities & Exchange Commission of Pakistan (SECP) has revoked the registration of a foreign insurance company – New Hampshire – in Pakistan, ARY News reported on Friday.
Following the Sindh High Court (SHC) verdict, SECP issued a notification canceling the registration of the New Hampshire insurance company’s branch in Pakistan, under the Insurance Ordinance 2000.
The court verdict clarified that the New Hampshire branch in Pakistan is not authorized to engage in insurance business activities.
Meanwhile, SECP directed the individuals with insurance-related inquiries to reach out to TPL insurance for further assistance.