SECP Public Notices / Warnings

following is the List of Insurance Companies with Prohibition to Underwrite New Insurance Business and Winding-up Order Sanctioned.


List of Insurance Companies with Prohibition to Underwrite New Insurance Business
All Insurance Companies are required to operate in compliance with the requirements of Insurance Ordinance, 2000 & Companies Ordinance 1984. The Securities & Exchange Commission of Pakistan, being the apex regulator of the Insurance Industry, takes appropriate legal actions as and when required, against the Insurance Companies that fail to comply.
In furtherance thereof, SECP has issued directions under Section 63(1) of the Insurance Ordinance, 2000 to prohibit the following Insurance Companies/Societies to underwrite any new insurance business.
The general public is hereby advised in their own interest not to enter into any insurance contract with these entities.

Hallmark Insurance Company Limited.
Dadabhoy Insurance Company Limited.
The Ittefaq General Insurance Company Limited.
National General Insurance Company.
The Co-operative Insurance Society of Pakistan Limited.
The Pakistan Mutual Insurance Company (Guarantee) Limited.
Seafield Insurance Company Limited.
Agro General Insurance Company Limited.
Union Insurance Co. of Pakistan Limited.
Standard Insurance Co. Limited.


List of Insurance Companies with Winding Order Sanctioned
On account of non-compliance of various provisions of the law, SECP has sanctioned winding up order against the following companies.
The general public is hereby advised in their own interest not to enter into any insurance contract with these entities.
Gulf Insurance.
Delta Insurance Company Limited.
Sterling Insurance Company Limited.
Beema Pakistan Company Limited.
Business & Industrial Insurance Company limited.
Progressive Insurance Company limited.
Pakistan Guarantee Insurance Company Limited.
Pak Northern Insurance Company Limited.
Platinum Insurance Company Limited.
North Star Insurance Company Limited.