State Life
Pakistani state owned insurer
From Wikipedia, the free encyclopedia
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]
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
 | |
| 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) Senator Saleem Zia (Chairman) |
| Products |
|
| Revenue |  Rs. 208.374 billion (US$750 million) - 2019[1] |
| Rs. 1.27 billion (US$4.5 million) - 2017 | |
| Total assets | Rs. 1.058 trillion (US$3.8 billion) - 2019 |
| Owner | Government of Pakistan |
| Website | statelife |
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
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
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)
