State Life Insurance Corporation of Pakistan secured group premium income of Rs 981.854 million during the second quarter of 2004 as compared to Rs 715.051 million in the corresponding period of last year, showing an increase of 37 percent.
This was stated in Group & Pensions second quarter business performance report 2004, released on Tuesday. Commenting on the quarterly report, Divisional Head, Nasir Javed Khan said that during the period January-June 2004, SLIC had secured collective premium of Rs 34.502 million by insuring 143 new groups.
He said that the corporation had paid Rs 828 million against 6508 group claims during the period.
As a part of group business strategy 2004 SLIC would introduce group insurance coverage to consumer financing, while plans were being devised to provide traffic accident insurance policy to every licence holder in the country with the support of provincial and federal governments, he added.
He said that SLIC also aimed to introduce education insurance to school and college students at provincial level.
He thanked the chairman of Slic, Kamal Asfar, and Executive Director (G&P) Zafar Mahmood for providing effective guidelines to achieve the second quarter targets.
Appreciating the performance of the corporation, Executive Director, SLIC (Group and Pensions) Zafar Mehmood also congratulated the sector heads, officers and staff members of G&P on the tremendous performance.