Crescent Star Insurance said, 'Our board of directors has authorised the CEO of the company to sign an MoU for due diligence of PICIC Insurance, which may lead to possible merger of PICIC Insurance with Crescent Star Insurance.
PICIC Insurance and Crescent Star Insurance are among the smaller players in the country's non-life insurance industry and have assets valued at less than PKR1bn.
Keeping in view your strong and extensive experience in economic activity within and outside the country we have no reason to disbelieve that PICIC is destined to be a success story in the insurance industry of Pakistan however we wish to know under what circumstance you had acquired this company
When asked to share what he called the innovative ideas which he believed to help boosting business for PICIC he talked about one of his business ideas which desired to introduce in near future he said that we have introduced a number of innovative policies which we intend to float in the market.
1 million stocks of the PICIC insurance from the public, at the price of Rs7.
The par value of the PICIC stocks is Rs10 per stock.
499 million shares approximately 30 percent in PICIC
Insurance Company, which NIB Bank has agreed to sell to KM Enterprises at the rate of Rs7.
19 January 2011 - Pakistan's JCR-VIS affirmed yesterday the insurer financial strength (IFS) rating of PICIC Insurance Ltd at A-.
Karachi, January 18, 2011: JCR-VIS Credit Rating Company Limited has reaffirmed the Insurer Financial Strength rating of PICIC Insurance Limited (PIL) at 'A-' (Single A Minus).
8 December 2010 -- Pakistan's JCR-VIS Credit Rating Company said it had set a AA+(f) preliminary fund stability rating to PICIC
30 July 2010 - Pakistan's JCR-VIS Credit Rating Company said it finalised the preliminary fund stability rating (FSR) on PICIC
Income Fund at A+(f).
1 June 2010 - Pakistani JCR-VIS Credit Rating Company said it assigned a "positive" outlook to the AM3 management quality (MQ) rating on local PICIC
Asset Management Company Ltd (PICIC