KARACHI : The SECP has issued 10 show cause notices and a warning letter to various conventional insurance firms for contravening various provisions of corporate and insurance laws. The Commission has also passed 4 orders against various insurance and takaful firms. These show cause notices, orders and warning letter were issued during the month of May.  The Commission has also passed 4 orders against various insurance and takaful companies , out of which 3 were passed against a takaful company and 1 against a conventional insurer.

One of the 4 orders was passed for not complying with the provisions of the 2012 Insurance Companies (Sound and Prudent Management) Regulations.
Moreover, the Pakistan Insurance Institute (PII) has conducted examination to authorize surveying officers during the month of May to test their competency in the relevant class of survey.