Fauji Foundation Takes 51% Stake In Askari General Insurance.
✧ GENERATE BRIEFING +
The Fauji Foundation has officially acquired a 51 % majority equity stake in Askari General Insurance Company Limited (AGICL) from the Army Welfare Trust (AWT), establishing a direct majority ownership. Disclosed to the Pakistan Stock Exchange on Tuesday, the transaction was finalized on August 28, 2026, with the transfer of 51,337,953 ordinary shares executed at a carrying cost of Rs17.06 per share. Officials clarified that the realignment does not constitute a commercial acquisition, market merger, or shift in an ultimate beneficial and economic control, but rather an internal restructuring of holdings between the two welfare organizations following the approvals announced earlier in the year. Askari General Insurance remains listed on the PSX, continuing its operations across diverse non-life portfolios including areas like fire, marine, motor, and health insurance under its well established corporate framework.
Fauji Foundation has acquired a 51% stake in Askari General Insurance Company Limited (AGICL) from Army Welfare Trust (AWT), becoming the direct majority shareholder of the insurance company.
The transaction was completed on August 28, 2026, with 51,337,953 ordinary shares transferred from AWT to Fauji Foundation at carrying cost. Askari General Insurance disclosed the development to the Pakistan Stock Exchange on Tuesday.
The company clarified that the transfer does not represent a commercial acquisition, merger or change in ultimate beneficial or economic control. Instead, the 51% holding has moved within the Fauji Foundation and Army Welfare Trust structure.
The transfer follows an approval announced earlier this year for Fauji Foundation to receive a controlling stake in Askari General Insurance from AWT. The shares were to be transferred at a carrying cost of Rs17.06 per share, subject to regulatory requirements.
Askari General Insurance is listed on the Pakistan Stock Exchange and operates in the non-life insurance sector, including fire, marine, motor, health and miscellaneous insurance businesses.
The latest transaction gives Fauji Foundation direct ownership of the majority stake while keeping the company within the broader welfare-organisation structure.
