State
Life Insurance Corporation Of Pakistan Holds 2022 Convention In Pc Bhurban:
Announces Best Ever Business Results In Its 50 Year History
On February 5th, 2023, State Life
Insurance Corporation of Pakistan (SLIC) held its Annual Marketing Convention
in Pearl Continental Bhurban to congratulateits vigorous workforce and
determined management team; as well as to celebrate the strongest annual
results since its inception. Despite challenges posed by macro-economic and
market volatility, SLIC delivered the strongest business numbers in its history
and grew its premium revenue to Rs. 279 billion, increasing by 64% from last
year.
New business: 173 billion increasing by over 161% from 2021
·
Individual
Life – Highest ever premium collection since inception
·
Group Life
and Health – Highest ever new business since inception
Earnings:
·
Premium
Income: Over Rs. 279 billion collected – increased by 64% from 2021
·
Investment
Income: Over Rs. 122 billion – Investment yield 10.5%
Payouts:
·
Claims:
Over Rs. 167 billion in claims paid to policyholders – Highest ever since
inception
·
Bonus allocated
to policyholder: Over Rs. 95 billion – Highest ever since inception
Growth:
·
Assets:
Over Rs. 1.56 trillion – increased by 15% from 2021
·
Pak Life
Fund: Over Rs. 1.4 trillion – increased by 15% from 2021
The convention held at Pearl Continental
Hotel in Bhurban focused on the developments made under Shoaib Javed Hussain,
Chairman of State Life and speaking at the occasion; he reiterated, “In
any country, the existence of a vibrant and growing insurance industry is
essential for the growth of its economy. State Life has surpassed last year’s
results and delivered exceptional results in 2022; making SLICs 50th
year a truly golden year. This has only been achieved due to the dedication of
our professional workforce, across our officers, staff, and sales force cadres as
they implemented the innovative vision and competitive strategy of our dynamic
corporate leadership. Insurance becomes even more important during challenging
times and difficult circumstances. Behind these incredible business results lie
the true essence of our work, which is to provide security and protection to
our policyholders. Whether it is for health, saving, children’s education or
retirement, State Life is a partner in an individual’s life journey, and we are
here to be their support in making key life decisions. I want to thank our policyholders,
business partners, and shareholders for putting their trust in State Life; I am
confident that with their support we will continue to lead the evolving life
and health insurance landscape”
SLIC’s dynamic and visionary business
strategies focused on technology and customer centric services continues to
drive the organization. SLIC’s revitalized policies are designed to fit the
needs of every citizen and wider diaspora of Pakistan, making them the leaders
in the insurance industry.
About State Life Insurance Corporation
of Pakistan:
State-Life Insurance Company of Pakistan
(SLIC) is the largest and the only AAA rated insurance company in the country.
As the leading insurer of the country, it is ensuring the wellbeing and financial
security of its policyholders and partners and has emerged as one of the most
successful State-Owned enterprises in the country.
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