State Life Insurance Corporation of Pakistan (SLIC) aims to provide optimum financial protection through life insurance coverage both in the urban and rural areas of the country by expanding its operations in line with the insurance policy announced by the government of Pakistan so as to inculcate savings at the micro level and eradicate unemployment.
This was stated by Kamal Afsar, Chairman SLIC, while addressing the delegates of State Life Convention 2007 held at Bhurban, says a statement issued here on Tuesday. Muhammad Javed Khan, Eijaz Ahmed, Syed Arshad Ali and Ms Nargis Ghaloo, Executive Directors State Life were present on the occasion.
Kamal Afsar said that highly educated professionals on market based salaries will be inducted for enhancing the competitiveness and productivity while harnessing State Life's corporate role in the development of insurance industry.
He informed that as a guardian of its valued policy holders, State Life has successfully allocated Rs 8.44 billion as actuarial surplus as bonus on the profit policies of the policy holders based on the actuarial valuation of 2006 while the State Life's Life Fund has stood at Rs 137 billion as at 31st December 2006.
Chairman SLIC said that State Life being the sole trusty of its valued policy holders life fund will increase the yield from year to year by consistently pursuing prudent investment policies. He informed that State Life has paid Rs 3.99 billion as individual and group life claims that has benefited 33,613 policy holders and their families nation-wide during the first half of 2007.