State Life Explained

Key People:Shoaib Javed Hussain
(Chairman)
Industry:Life insurance
Predecessor:Adamjee Life Insurance
EFU Life Insurance
United Life Insurance
New Jubilee Life Insurance
Habib Life Isurance
Premier Life Insurance
Central Life Insurance
IGI Life Insurance
Union Life Insurance
Revenue: - 2019[1]
Net Income: - 2017
Assets: - 2019
Owner:Government of Pakistan
Location:Karachi, Pakistan

The State Life Insurance Corporation of Pakistan (SLIC) (ur|اسٹیٹ لائف انشورنس), commonly known as State Life, is a Pakistani state-owned life insurance company based in Karachi.[2] [3]

The State Life is headed by a chairman, currently Shoaib Javed Hussain. The chairman is assisted by four directors. The chairman and directors of State Life are all appointed by the Government of Pakistan.[4] The Principal Office of State Life is situated in Karachi, Pakistan.

History

The life insurance business in Pakistan was nationalized in March 1975. Prior to 1972, 36 life insurance companies were involved in the life insurance business. These companies were later merged and placed under three Beema Units; named "A", "B" and "C". Later, these Beema Units were merged on November 1, 1972, into State Life Insurance Corporation of Pakistan.[5]

Subsidiaries

State Life has the following subsidiaries:

Notes and References

  1. Web site: Financial Performance Highlights. State Life.
  2. News: Khan . Mutaher . State Life: The outlier in Pakistan's insurance industry . 7 September 2024 . www.dawn.com . Dawn . 2 May 2023 . en.
  3. Web site: Aggregate Annual Report, Federal State Owned Enterprises (SOEs) . finance.gov.pk . Central Monitoring Unit, Finance Division, Government of Pakistan . 7 September 2024 . Islamabad . en . 24 June 2024.
  4. Web site: Gilani asks State Life to use network for economic growth. August 30, 2009. The Nation.
  5. Web site: A matter of life and death. Zoha . Habib . Vanessa . D’Souza. July–August 2012 . Aurora magazine . June 1, 2024.