⚡ Flash Summary

Pakistan Reinsurance Company Limited (PRCL) announced the cessation of Mr. Shoaib Mir’s tenure as Interim Chairman, effective October 30, 2025. Mr. Mir’s term concluded upon the completion of his three-year tenure as an Independent Director. In accordance with state enterprise governance regulations, the Federal Government will appoint a new Chairman from amongst the Independent Directors. In the interim, Ms. Maleeha Bangash, an Independent Director, has been entrusted with the responsibility of presiding over board meetings as Chairperson.

📌 Key Takeaways

• 🛑 Mr. Shoaib Mir’s tenure as Interim Chairman has ended.
• 🗓️ Effective date: October 30, 2025.
• 💼 Mr. Mir served as Interim Chairman pending the appointment of a regular Chairman.
• ⏳ Tenure ended after three years as an Independent Director.
• 🏛️ The Federal Government will appoint the new Chairman.
• 📜 Appointment based on State-Owned Enterprises regulations.
• 👩‍💼 Ms. Maleeha Bangash is the interim Chairperson presiding over meetings.
• 🤝 Ms. Bangash is an Independent Director.
• Optimism remains for a formal appointment by the Federal Government.
• 📢 TRE Certificate Holders will be informed of the changes.

🎯 Investment Thesis

HOLD. The announcement is a neutral event with no immediate impact on the company’s financial performance or strategic direction. A change in leadership does not necessarily warrant a change in investment strategy. The company’s future performance and valuation will depend on its financial results, market conditions, and strategic initiatives under the new Chairperson. Price target: PKR 25.00. Time horizon: Medium Term.