ISLAMABAD: The Securities and Exchange Commission of Pakistan has issued 21 show-cause notices to different insurance and takaful companies for failing to comply with various provisions of the law.
In a statement here on Wednesday, SECP Commissioner for Insurance, Mohammad Asif Arif said that during the same period, 36 warning letters were also issued to CEOs and directors of various insurance and takaful companies.
He said that Insurance Division also renewed 30 licenses to surveying companies and 59 to authorized surveying officers.
Moreover, the public filed 18 complaints against insurance companies and most of them were redressed to the satisfaction of the complainants.
He said that SECP would continue to engage insurance companies to ensure compliance with regulations.
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