The Life Insurance Business in Pakistan was nationalized during March 1972. Initially Life Insurance business of 32 Insurance Companies was merged and placed under three Beema Units named “A”, “B” and “C” Beema Units. However, later these Beema Units were merged and effective November 1, 1972 the Management of the Life Insurance Business was consolidated and entrusted to the State Life Insurance Corporation of Pakistan.
State Life Insurance Corporation of Pakistan is headed by a Chairman and assisted by the Executive Directors appointed by Federal Government. Up to July 2000 the Corporation was run by Board of Directors constituted under Life Insurance (Nationalization) Order 1972. In July 2000, under Insurance Ordinance 2000, the Federal Government reconstituted the Board of Directors of State Life which runs the affair of this Corporation.
The basic structure of the Corporation consists of Four Regional Offices, Twenty-Six Zonal Offices, a few Sub-Zonal Offices, 111 Sector Offices, and a network of 461 Area Offices across the country for Individual Life Insurance; Four Zonal Offices and 6 Sector Offices with 20 Sector Heads for Group & Pension are involved in the Marketing of Life Insurance Plans policies and products offered by State Life and a Principal Office. The Zonal Offices deal exclusively with Sales and Marketing. Underwriting of Life Insurance Policies and the Policyholder’s Services. Regional Offices, each headed by a Regional Chief, supervise business activities of the Zones functioning under them. The Principal Office, based at Karachi, is responsible for corporate activities such as investment, real estate, actuarial, overseas operations, etc.
Focus Market
Global Market
Major Clients
Corporate clients
Individual clients
Governament institution
Branches
Nationwide 26 Zonal Offices
Gulf Countries
Company Industry
Insurance: Life Insurance Companies
Other Info
Business Type
Others
Company Type
Government
Buyer or Seller
Seller
Year Established
1972
No of Employees
50000
Annual Turnover in US$
25 Million and Above
Contact Information
Contact Info
State Life Insurance Corporation of Pakistan
Office No.116-F,Raja Centre, Main Market,Gulberg-II, Lahore, Punjab, Pakistan Phone: +92-321-6032290 Email:call2faheem@yahoo.com URL:http://www.statelife.com.pk
