Adamjee Life Assurance plans to expand into pension fund management

Adamjee Life Assurance Company Limited (PSX:ALIFE) plans to diversify its business operations by entering the pension fund management sector.

The company’s Board of Directors approved a proposal that the company may act as a pension fund manager under the Voluntary Pension System Rules, 2005.

This expansion would complement the company’s existing life assurance business.

The initiative is subject to approval and registration from the Securities and Exchange Commission of Pakistan, according to the company’s statement issued today.

The company has committed to fulfilling all legal, corporate, and reporting requirements in accordance with applicable regulations.