Blocking of shares held by major shareholders: Time prescribed for insurers extended: SECP

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has extended by three months the time period prescribed for insurers under its earlier notification regarding the blocking of shares held by major shareholders.

According to S.R.O. 1637(I)/2026, issued by the SECP, the Commission has partially modified S.R.O. 1447(I)/2025, dated August 4, 2025, and extended the time period specified in paragraphs 1 and 3 of the earlier notification by a further three months.

The revised requirements have been issued to all insurers registered under the Insurance Ordinance, 2000, in exercise of powers conferred by section 40B of the Securities and Exchange Commission of Pakistan Act, 1997, read with clauses (j) and (w) of sub-section (4) of section 20 of the Act.

The latest notification states that all other requirements and directions contained in S.R.O. 1447(I)/2025 will remain unchanged.

The original notification, S.R.O. 1447(I)/2025, concerns requirements relating to the blocking of shares held by major shareholders of insurance companies. The extension therefore provides additional time under the specified provisions while retaining the remaining regulatory requirements.

Copyright Business Recorder, 2026