PICIC Insurance Limited (PIL)

FINANCIAL RESULTS

PICIC Insurance Limited provided a quarterly progress report announcing that the Sindh High Court approved the Modified Scheme of Arrangement for the merger of Crescent Star Foods (Private) Limited into the company. The company is currently implementing the scheme, which includes the issuance and allotment of approximately 7.9 billion new ordinary shares.

FINANCIAL RESULTS

PICIC Insurance Limited reported an un-audited net loss after tax of PKR 2.016 million (loss per share of PKR 0.06) for the half-year ended June 30, 2026, compared to a net loss of PKR 11.243 million in the same period last year. The external auditors issued an adverse review report citing going concern issues, negative equity, and non-compliance with minimum paid-up capital and solvency requirements, alongside an ongoing Sindh High Court-approved merger process with Crescent Star Foods.

FINANCIAL RESULTS

PICIC Insurance Limited reported its financial results for the half year ended June 30, 2026, showing a reduced net loss after tax of PKR 2.016 million compared to a loss of PKR 11.243 million in the same period last year. The Board of Directors recommended no cash dividend, bonus shares, or right shares for the period.