SLIC announces best ever business results in its 50 year history.

State Life Insurance Corporation of Pakistan (SLIC) held its Annual Marketing Convention in Pearl Continental Bhurban on February 4 to congratulate its vigorous workforce and determined management team; as well as to celebrate the strongest annual results since its inception. Despite challenges posed by macro-economic and market volatility, SLIC delivered the strongest business numbers in its history and grew its premium revenue to Rs. 279 billion, increasing by 64% from last year.

New business: 173 billion increasing by over 161% from 2021

Individual Life - Highest ever premium collection since inception

Group Life and Health - Highest ever new business since inception

Earnings:

Premium Income: Over Rs. 279 billion collected - increased by 64% from 2021

Investment Income: Over Rs. 122 billion - Investment yield 10.5%

Payouts:

Claims: Over Rs. 167 billion in claims paid to policyholders - Highest ever since inception

Bonus allocated to policyholder: Over Rs. 95 billion - Highest ever since inception

Growth:

Assets: Over Rs. 1.56 trillion - increased by 15% from 2021

Pak Life Fund: Over Rs. 1.4 trillion - increased by 15% from 2021

The convention held at Pearl Continental Hotel in Bhurban focused on the developments made under Shoaib Javed Hussain, Chairman of State Life and speaking at the occasion; he reiterated, "In any country, the existence of a vibrant and growing insurance industry is essential for the growth of its economy. State Life has surpassed last year's results and delivered exceptional results in 2022; making SLICs 50th year a truly golden year. This has only been...