Which Insurance Corporation/Company Is The Best In Pakistan?

Which Insurance Corporation/Company Is The Best In Pakistan?

According to facts, figures, and policy holder's satisfaction "The State Life" insurance corporation is considered to be the best, The stats and reason why "The State Life "is best, will be discussed below.

Which Insurance Corporation/Company Is The Best In Pakistan?
Photo by Karolina Grabowska from Pexels

Why State Life Insurance Corporation Is Best?

Brief History

The Life Insurance Business in Pakistan was nationalized in March 1972. Initially, the Life Insurance business of 32 Insurance Companies was merged and placed under three Beema Units named “A”, “B”, and “C” Beema Units. However, later these Beema Units were merged, and effective November 1, 1972, the Management of the Life Insurance Business was consolidated and entrusted to the State Life Insurance Corporation of Pakistan.

Which Insurance Corporation/Company Is The Best In Pakistan?

State Life Insurance Corporation of Pakistan is headed by a Chairman and assisted by the Executive Directors appointed by Federal Government. Up to July 2000, the Corporation was run by the Board of Directors constituted under Life Insurance (Nationalization) Order 1972. In July 2000, under Insurance Ordinance 2000, the Federal Government reconstituted the Board of Directors of State Life which runs the affair of this Corporation.

The basic structure of the Corporation consists of Seven Regional Offices, Thirty-Three Zonal Offices, a few Sub-Zonal Offices, 200 Sector Offices, and a network of 1329 Area Offices across the country for Individual Life Insurance; Four Zonal Offices and 6 Sector Offices with 20 Sector Heads for Group & Pension are involved in the Marketing of Life Insurance Plans policies and products offered by State Life and a Principal Office. The Zonal Offices deal exclusively with Sales and Marketing. Underwriting of Life Insurance Policies and the Policyholder's Services. Regional Offices, each headed by a Regional Chief, supervise business activities of the Zones functioning under them. The Principal Office, based in Karachi, is responsible for corporate activities such as investment, real estate, actuarial, overseas operations, etc.

Major Achievements

The major function of the State Life Insurance Corporation of Pakistan is to carry out Life Insurance Business; however, it is also involved in other related business activities such as investment of policyholders fund in Government securities, Stock market, Real Estate etc. The major achievements of State Life are as under:

On the commencement of the operations, the Corporation took a very important step by effecting a reduction of up to 33% in the premiums on the past and potential Life Policies for the benefit of the Policyholders. State Life is a profitable organization and it paid Rs.12 billion as a dividend to the Government of Pakistan since its inception in 1972. State Life has played a very vital role in the economy by providing employment to the people of the country as permanent employees and as part of its marketing force and by investing huge funds in different sectors of the economy. The Investment Portfolio of State Life as of 31.12.2019 stands at Rs.965.78 billion. The investment portfolio also includes investment in Real Estate which stands at a book value of Rs.3.375 billion as of 31.12.2019 whereas it fair value is around Rs.50.459 billion in the same period. The Paid-up Capital increased from Rs.10 million in 1972 to Rs.4.3 billion in 2019. The Premium income increased from Rs.0.317 billion in 1972 to 112.572 billion in 2019. Similarly, Investment income including rental income increased from Rs.0.81 billion in 1972 to 95.80 billion in 2019. The total statutory fund of State Life stands at Rs.996.401 billion in 2019 as against Rs.1.494 billion in 1972State Life is smoothly striving towards its objective of making life insurance available to a large section of the society by extending it to the common man. As at December 2019 the total number of policies enforce under individual life were 5.82 million and number of lives covered under group life insurance were 2.50 million, and the number of lives covered under health insurance was 47.42 million


To run a life insurance business on sound line. To provide more efficient service to the policyholders. To maximize the return to the policyholders by economizing on expenses and increasing the yield on investment. To make life insurance a more effective means of mobilizing national savings. To widen the area of operation of life insurance and making it available to as large a section of the population as possible, extending it from the comparatively more affluent sections of society to the common man in towns and villages. To use the policyholder's fund in the wider interest of the community.


To remain the leading insurer in the country by extending the benefits of insurance to all sections of society and meeting our commitments to our policyholders and the nation.

Quality Policy

 To ensure the satisfaction of our valued policyholders in processing new business, providing after-sales service, and optimizing return on Life Fund through a quality culture and to maintain ourselves leading life insurers in Pakistan.

Visit the Official Website for further queries.

Which Insurance Corporation/Company Is The Best In Pakistan?
Photo by Adrianna Calvo from Pexels