Askari Life Assurance completes 51% share transfer from AWT to Fauji Foundation

Mettis Global reported that Askari Life Assurance Company Limited (PSX:ALAC) has finished moving a 51% stake from the Army Welfare Trust (AWT) to Fauji Foundation (FF). The shift was carried out on August 28, 2026, and involved 76,587,727 ordinary shares, which the insurer described as 51% of its total issued and paid-up capital. Shares were transferred at carrying cost, according to the company's notice to the Exchange.

The move follows earlier disclosures the company made on July 8, July 17 and July 24, 2026 about the proposed transfer. Management stressed that the deal is not an acquisition or merger, and that it does not change control in a commercial or investment sense that could affect the market or competition. The company also said the transaction leaves its ultimate economic control unchanged.