State Life
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| Company type | Government organization |
|---|---|
| Industry | Life insurance |
| Predecessor | Adamjee Life Insurance EFU Life Insurance United Life Insurance New Jubilee Life Insurance Habib Life Insurance Premier Life Insurance Central Life Insurance IGI Life Insurance Union Life Insurance |
| Founded | November 1972 |
| Headquarters | Karachi, Pakistan |
Key people | Shoaib Javed Hussain (CEO) |
| Products |
|
| Revenue |  Rs. 208.374 billion (US$720 million) - 2019[1] |
| Rs. 1.27 billion (US$4.4 million) - 2017 | |
| Total assets | Rs. 1.058 trillion (US$3.7 billion) - 2019 |
| Owner | Government of Pakistan |
| Website | statelife |
The State Life Insurance Corporation of Pakistan (SLIC) (Urdu: اسٹیٹ لائف انشورنس), commonly known as State Life, is Pakistan's largest state-owned life and health insurance company based in Karachi.[2][3]
Shoaib Javed Hussain, CEO of State Life is assisted by four directors. The CEO 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
[edit | edit source]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
[edit | edit source]State Life has the following subsidiaries:
- Alpha Insurance Company Limited
- State Life (Abdullah Haroon Road) Properties (Private) Limited
- State life (Lackie Road) Properties (Private) Limited
- State Assets Management Company Limited (SAMCO)
References
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External links
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