ISLAMABAD: The High Court of Sindh has sanctioned the scheme of merger, transferring the entire undertaking and business of M/s SPI Insurance Company Limited to and vested in the United Insurance Company of Pakistan.

Subsequently, in pursuance of the court authorization, the Securities and Exchange Commission of Pakistan (SECP) revoked the registration of M/s SPI Insurance Company Limited as an insurer under sub-section (2) of Section 9 of the Insurance Ordinance 2000.

M/s SPI Insurance Company Limited no longer exists, and any business activity carried out by it or any liability incurred by it shall be payable by the United Insurance Company of Pakistan Limited.

For any claim or responsibility pertaining to their insurance policies, all policyholders of the SPI Insurance may contact with United Insurance Company of Pakistan Limited.

Copyright Business Recorder, 2023