State life insurance Corporetion

State Life Insurance Corporation: A Strong Public Sector Insurance Company in Pakistan

The State Life Insurance Corporation (SLIC) is one of the leading life insurance companies in Pakistan. With a history spanning over 65 years, SLIC has become synonymous with life insurance in the country. As a public sector organization, SLIC serves an important role in providing financial security to Pakistani citizens through its various insurance products.

SLIC was established in 1953 through an act of parliament as the first public-sector life insurance company in the newly created state of Pakistan. Its main objective was to provide life insurance coverage to the masses at an affordable cost.

Over the decades, SLIC has expanded its operations across the length and breadth of the country with an extensive network of branches. It is headquartered in Karachi and has regional and zonal offices in all major cities in Pakistan.

Today, State Life Insurance Corporation (SLIC) enjoys a strong reputation as a reliable life insurer that puts people ahead of profits. It has a robust financial standing, with assets worth over PKR 400 billion. As of 2022, SLIC has nearly 800 branches and over 55,000 agents serving more than 7 million policyholders nationwide. It provides financial protection to families through various life insurance plans, including term insurance, endowment plans, child education and marriage plans, retirement plans, and more.

Here are some key facts about the State Life Insurance Corporation (SLIC):

• It is the largest life insurance company in Pakistan in terms of the insurance coverage it provides.
• SLIC has the largest customer base in the life insurance sector, with over 7 million policyholders.
• It has the largest asset base among Pakistani life insurers, valued at over PKR 400 billion.
• The company has an extensive agent network of over 55,000 agents across Pakistan.
• SLIC has a dominant market share of over 30% in the life insurance space in Pakistan.
• It has paid out over PKR 57 billion in insurance claims to date.
• The company actively engages in corporate social responsibility activities across Pakistan.

Over the years, the State Life Insurance Corporation (SLIC) has introduced innovative life insurance products catering to the evolving needs of Pakistanis. It was the first insurer to offer Shariah-compliant life solutions in Pakistan.

The company also has solutions targeted at financially empowering women in the country. Recently, SLIC launched an insurance product covering the education expenses of children with special needs.

Given its strong financial footing and customer trust, State Life Insurance Corporation (SLIC) is well positioned to maintain its leadership status in the life insurance sector. It continues to be an ideal insurance provider for Pakistani citizens seeking financial security and stability.

As one of the pioneering and successful public sector companies, SLIC remains committed to its founding principles of serving the insurance needs of the masses in an affordable and accessible manner.