Frequently Asked Questions

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Agico was incorporated by the Securities and Exchange Commission of Pakistan on 12th April 1995. It commenced its operations from 20th july 1995.
We operate in insurance sector. Agico is offering non-life insurance services through our 19 branches located in all major cities of Pakistan.
We are a subsidiary of the Army Welfare Trust (AWT) Group of Companies.
Our Head Office / Registered Office is located at 3rd Floor, AWT Plaza, The Mall, Rawalpindi.
Our Board of Directors is made up of eight members. Chairman of the Board of Directors is Lt Gen Khalid Rabbani (Retd). See the Detail..
Our current strength consists of 407 employees.
We compete with Atlas Insurance, Habib Insurance, United Insurance, Century Insurance and UBL Insurance.
We prepare our financial statements in accordance with approved accounting standards as applicable in Pakistan. Approved accounting standards comprise of such International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board as are notified under the Companies Ordinance, 1984, provisions of and directives issued under the Companies Ordinance, 1984, the Insurance Ordinance, 2000 and SEC (Insurance) Rules, 2002. In case requirements differ, the provisions or directives of the Companies Ordinance, 1984, Insurance Ordinance, 2000 and SEC (Insurance) Rules, 2002 shall prevail.
We publish our results in the Pakistani Rupees (PKR).
Our shares are traded on Pakistan Stock Exchange
The par value of our share is Rs. 10 per share.
Our paid up share capital consists of 54,368,134 shares.
The last cum-rights share issue took place in July 2016.
Agico has only issued ordinary shares so far.
As at 30 September, 2016, our shareholders stand at 1,920.
Army Welfare Trust holds 59.18% shares totaling 32,174,395.
Our first share listing was on 10th March 1996 at par value of Rs. 10 per share.
Questions regarding corporate management, control and transparency are summarized under "Corporate Governance". A company's corporate governance structure is determined by a varied regulatory framework that is shaped by statutory requirements, market self-control mechanisms and company-specific principles.

Essential elements of good Corporate Governance are:
- open and transparent communication
- absolute respect for the interests of shareholders
- efficient cooperation of the Board of Management and Supervisory Board Corporate Governance.

The Corporate Governance Code issued by the Securities and Exchange Commission of Pakistan in 2012, summarizes the main statutory regulations for the management and supervision of local listed companies.

Recently, a dedicated Code of Corporate Governance for Insurers, 2016 has been introduced which, in addition to the requirements of the Code of Corporate Governance, 2012, requires all life and non-life insurance companies to follow the requirements mentioned therein.

As a statutory requirement, the remuneration of the Board of Directors is mentioned in the notes to the financial statements.
Our Board of Directors is made up of eight members. Chairman of the Board of Directors is Lt Gen Khalid Rabbani (Retd). See the List..
Yes, in compliance with the statutory requirement, Agico has implemented a Code of Conduct/Ethics across the board which sets minimum behavioral/conduct standards for all employees, whether at Head Office or branches, in order to prevent situations which might question their honesty. See the full code of conduct