KARACHI, Oct 8: Adamjee Insurance Company Limited (AICL) is all set to write the first life insurance policy on Jan 1 of next year, sources close to the company said.

The company is understood to have reached an agreement for establishing a joint venture with a South African Insurance giant. Earlier, the company was locked in talks to select the South African or another competitor, an Australian insurance company for its diversification into life insurance business.

The company has declined to reveal the name of the overseas joint venture partner in the interest of transparency. A notice would be released through the stock exchanges at the proper time, sources said.

— Our reporter