Press Releases - State Life Insurance Corporation of Pakistan scaling new heights under Shoaib.

The State Life Insurance Corporation of Pakistan (SLIC) is the largest (AAA rated) insurance company in the country, which has now broken all previous records of financial growth and operational performance, across its life and health business, as reflected in its 2021 full year annual results.

Over the past one year, the corporation has emerged as one of the most successful state-owned enterprises in the country, despite the massive impact of a global pandemic and unprecedented socio-economic challenges.

This year SLIC has paid the highest ever 'Bonus' of Rs 85.65 billion to its policyholders, reflecting a 13% annual increase from Rs 75.97 billion. During this year, it paid a staggering Rs 98.36 billion of 'Claims' to the customers, which shows a 52 percent increase from the previous year's figure Rs.64.9 billion.

Moreover, it has achieved a phenomenal and an unprecedented 100% growth in New Business sales, at Rs 71.78 billion, while the previous year's figure was Rs 35.91 billion.

The total business sales have grown by 36 percent from Rs 119 billion to Rs.161.79 billion. The Investment Income earned this year amounted to Rs 117.1 billion after a 13 percent increase from previous year's amount of Rs 103.78 billion. Taking the total value of the corporation's assets from Rs 1.2 trillion to Rs 1.37 trillion, an increase of 14%.

The exceptional business growth and performance has resulted in an impressive 57% increase in Net Profit, from Rs 4.2 billion in 2020 to Rs 6.6 billion in 2021. The annual 'Cash Dividend' paid to the shareholders amounted to Rs 1.7 billion, an increase of 13 percent from last year's figure of Rs 1.5 billion. It is important to recall here that SLIC allocates 97.5% of its surplus from life business to its policyholders and retains only 2.5% for its shareholders.

The young and dynamic Chairman of SLIC - Mr. Shoaib Javed Hussain stated that: "It is a testament of the trust placed in us by our policyholders, customers and partners that these unprecedented financial and operational...