Major Achievements

The major function of the State Life Insurance Corporation of Pakistan is to carry out Life Insurance Business; however, it is also involved in the other related business activities such as investment of policyholders’ fund in Government securities, Stock market, Real Estate etc. The major achievements of State Life are as under:
On the commencement of the operations, the Corporation took a very important step by effecting reduction up to 33% in the premiums on the past and potential Life Policies for the benefit of the Policyholders.
State Life is profitable organization and it paid Rs.1.729 billion as dividend to the Government of Pakistan since its inception in 1972.
State Life has played very vital role in the economy by providing employment to the people of the country as permanent employees and as part of its marketing force and by investing the huge funds in different sectors of the economy. The Investment Portfolio of State Life as at 31.12.2005 stands at Rs.124.983 billions.
Investment portfolio also includes investment in Real Estate which stands at a book value of Rs.2.309 billion as at 31.12.2005 whereas it fair value is around Rs.17.625 billion in the same period.
The Paid up Capital increased from Rs.10 million in 1972 to Rs.900 million.
The Premium income increased from Rs.0.317 billion in 1972 to 13.820 billion in 2005. Similarly Investment income including rental income increased from Rs.0.81 billion in 1972 to 13.106 billion in 2005.
vii. Total statutory fund of State Life stands at Rs.122.775 billion in 2005 as against Rs.1.494 billion in 1972.
State Life is smoothly striving towards its objective of making life insurance available to large section of the society by extending it to common man. As at December, 2005 the total number of policies inforce under individual life were 2.044 million and number of lives covered under group life insurance were 3.731 million.