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March 14, 2018

State Life Annual Income Touches Rs154BN mark

Business

March 14, 2018

Karachi: State Life Insurance Corporation, Principal Office, Karachi was visited by Federal & Provincial Officers participating in the 25th Mid Career Management Course (MCMC) in ‘The National Institute of Management (NIM), Quetta’ headed by Mr. Khwaja Shaukat Hussain, Chief Instructor on March 13, 2018 as part of their inland study tour. They were welcomed by senior management of the State Life Insurance Corporation.

  The Executive Director, Mr. Ghufran Memon briefed the participants that State Life Insurance Corporation formed under the LINO 1972. The institution obtains its revenue from three sources which includes Premium, Investment Income and rental income. The overall annual income reached Rs. 154 billions. The Corporation paid Rs. 38 Billion in the form of claims to its policyholders. It is the only Corporation in Insurance sector which has a unique and outstanding rating of AAA in the life Insurance industry. Further, State Life distributes its actuarial surplus @97.5% to its policyholders and the total assets of SLIC reached Rs. 830 billion.***

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