SLIC premium, investment income reaches Rs 89.71 billion
18 January, 2013
KARACHI: State Life Insurance Corporation (SLIC) of Pakistan's total premium and investment income in the year 2012 has reached Rs 89.71 billion up from Rs 75.77 billion in 2011 showing an increase of 18 percent.
KARACHI: State Life Insurance Corporation (SLIC) of Pakistan's total premium and investment income in the year 2012 has reached Rs 89.71 billion up from Rs 75.77 billion in 2011 showing an increase of 18 percent. The total premium has increased from Rs 45.03 billion in 2011 to Rs 53.913 billion in 2012. Shahid Aziz Siddiqui Chairman SLIC on Thursday informed State Life has paid total amount of Rs 24.36 billion against death and maturity claims (individual and group policies) in this regard an amount of Rs 19.49 billion was paid to the policy holders and their families with the percentage increase of 25 percent. He pointed towards the firm investment portfolio of SLIC. The investment income during the preceding year stood at Rs 30.74 billion, which has increased to Rs 35.8 billion in 2012 showing an increase of 16.00 percent. He said the Life Fund of SLIC has increased from Rs 268.58 billion in 2011 to Rs 314.8 billion in 2012. The number of individual life policyholders has increased from 38,00,000 in 2011 to 44,00,000 in 2012. In the group and pension sector, the number of lives covered has increased from 5.93 million to 7.56 in 2012 resulting in increase of income from Rs 4.991 billion to Rs 8.005 billion in 2012 registering an enhancement of 60.36 percent. Highlighting the future plans of SLIC, he said recently State Life has launched the new policy last year by the name of `Committee Policy'. This new policy is for the benefits of the common people, short termed with very attractive returns.