NICL National Insurance Company Limited
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NICL purchased the entire share capital of CCC in February, 2005.
Acquisition of CCC by NICL
 
NICL Acquisition
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  • The Board of Directors of NICL has approved the purchase of 100% share capital of CCC @ Rs.8/- per share as informed by Executive Director & Secretary Board, NICL vide his letter dated 31.3.2004.

  • Entire Shares of CCC Rs.448.20 million were purchased by NICL by paying Rs.358.56 M in Feb, 2005.

  • NICL became the owner of the following assets;
 
HEAD OFFICE & REGIONAL OFFICE ISLAMABAD
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  • After acquiring CCC by NICL in February, 2005, the CCC head office was shifted from Green Tower, Jinnah Avenue Islamabad to 13th Floor NICL Building Islamabad in April 2005. Subsequently, CCC Head Office was shifted to Karachi in June 2008 and CCC Islamabad office remained in the NICL building Islamabad till November �2008.

  • The Board of Directors of CCC in its 49th meeting held on 2nd November 2008 approved the acquisition of House No. 5-B Street No. 21, Sector F- 8/2 Islamabad, for the office of CCC; and newly launched Crop Insurance wing of NICL (North Zone) Islamabad and keeping in view the Security reasons in Islamabad, a small portion of the house be utilized for the stay of officers visiting Islamabad. CCC office was shifted from NICL Building, Islamabad to Sector F-8/2 w.e.f. 08-11-2008.
 
FACILITY MANAGEMENT, NIC BUILDING, ISLAMABAD The Facility Management
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  • The facility management agreement of NIC Building, Islamabad was executed between NICL and CCC w.e.f. 16.12.2006 for one year period against which the contracts for outsourced services i.e. Security, HVAC maintenance, O&M of lifts and Janitorial services were awarded by CCC for one year period accordingly.
 
SERVICES INTERNATIONAL HOTEL (SIH) LAHORE
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The Services International Hotel, Lahore is on prime location of Mall Road, near Lahore Gymkhana, Lahore. It is a four story building, i.e. Basement, Ground Floor, 1st Floor and 2nd Floor with a covered area of 15.4 kanals consisting of 100 rooms. The building was constructed 40 years ago on load bearing walls structure
 
LARKANA AWAMI MARKAZ BUILDING
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The Larkana Awami Markaz building is located on the Larkana-Rattodaro main highway, the building stands out as the most prestigious building of the region. The total covered area of the plot is 67,129.00 Sqft. (11.68 Kanals). The building is consists of four storey, Lower Ground Floor, Ground Floor, 1st Floor and 2nd Floor. The title of the building is with CCC, Larkana Municipal Corporation has given 99 years lease to CCC commencing from 26.4.1995.
 
 
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