February 19, 2017 7:02 AM ET

Insurance

Company Overview of State Life Insurance Corporation of Pakistan Limited

Company Overview

State Life Insurance Corporation of Pakistan Limited offers life insurance services in Pakistan. It offers individual life plans, such as whole life assurance, endowment assurance, anticipated endowment assurance, shad abad assurance, jeevan sathi assurance, child education and marriage assurance, child protection assurance, optional maturity endowment plans, and supplementary covers, as well as insurance plans for gulf. The company also provides group life and pension plans that include term insurance, provident fund insurance, house building and perquisites insurance, pay continuation, group endowment insurance, and group pension schemes, as well as private education. In addition, it owns ...

Dr. Ziauddin Ahmed Road

State Life Building No. 9

Karachi,  75530

Pakistan

Founded in 1972

Phone:

92 21 920 2800

Fax:

92 21 920 2844

Key Executives for State Life Insurance Corporation of Pakistan Limited

Finance & Accounts Division Head
Divisional Head of Personnel & General Services and Divisional Head of Real Estate
Zonal Head of Karachi - Southern
Departmental Head of Medical
Actuarial Division Head
Compensation as of Fiscal Year 2016.

State Life Insurance Corporation of Pakistan Limited Key Developments

No Plans To Privatize State Life Insurance

The government of Pakistan is willing to privatize State Life Insurance Corporation of Pakistan Limited. A Senate body was informed that the government has no plans to privatize State Life Insurance Corporation of Pakistan, rather it was will to corporatize the company.

State Life Insurance's Privatization Opposed

On August 23, 2016, Senate Standing Committee on Commerce unanimously opposed the privatization of State Life Insurance Corporation of Pakistan Limited. Secretary Commerce, Azmat Ali Ranjha, however, clarified that there was no immediate plan to privatize State Life Insurance. "I assure the committee categorically that the government has no intention of privatizing State Life Insurance. All the stakeholders should be consulted on the finalization of draft Bill 2016," he added. There are no plans to privatize State Life Insurance rather its shares would be floated in the stock exchange, the government stated.

Pakistan Scales Back Planned Privatization Transactions

The government has developed a plan to sequence the capital market and pre-privatization restructuring for ten companies, Oil and Gas Development Co., Ltd. (KASE:OGDC), Pakistan Petroleum Ltd. (KASE:PPL), Mari Petroleum Company Ltd (KASE:MARI), Government Holdings (Private) Limited, Habib Bank Limited (KASE:HBL), United Bank Ltd. (KASE:UBL), Allied Bank Limited (KASE:ABL), National Bank Limited (KASE:NBP), State Life Insurance Corporation of Pakistan Limited for block sales and primary or secondary public offerings. the government revisited its plans for privatising Faisalabad Electric Supply Company Limited and other DISCOs and decided to move ahead with an Initial Public Offering (IPO) for a minority share in FESCO by November, 2016 to be followed by Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited. The government also committed to disinvesting Kot Addu Power Co. Ltd. (KASE:KAPCO), a large power generation company, and to solicit expressions of interest by July 15, 2016 (new structural benchmark in lieu of completing the bidding process for FESCO by June, 2016. SLIC bill was subsequently approved by the National Assembly in May, 2016. The government will conduct the Initial Public Offering of SLIC by end-March, 2017 and will offer the first option for the government's shares in Mari Petroleum Company Limited (MPCL) to the parties who have been MPCL's other shareholders since incorporation, aiming at finalising this process by end-August, 2016.

Similar Private Companies By Industry

Company Name Region
Alfalah Insurance Company Limited Middle East/Africa
Beema Pakistan Company Ltd. Middle East/Africa
Business & Industrial Insurance Co. Ltd. Middle East/Africa
Dadabhoy Insurance Co. Ltd. Middle East/Africa
Excel Insurance Company Limited Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact State Life Insurance Corporation of Pakistan Limited, please visit www.statelife.com.pk. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.