Picic Insurance Ltd. announced that at its board meeting was held on August 26, 2014, the board has announced that Mr. Afroz Quraishi, CFO & Company Secretary will cease to be the CFO & Company Secretary of the company, with effect from August 31, 2014 and Mr. Syed Aseem Ahmed have been appointed as Acting company secretary and Mr. Syed Zaigham Raza has been appointed as Acting CFO.