The State Life Insurance Company

The State Life Insurance Corporation of Pakistan, commonly known as State Life or SLIC, is the largest life insurance company in Pakistan and one of the largest companies in the country by assets. It maintains an agency network of around 200,000 sales personnel. While its primary function is to carry out life insurance business, it also invests policyholders’ funds in government securities, the stock market, and real estate. The company is headed by a chairman, currently Shoaib Javed Hussain, and four directors, all appointed by the Government of Pakistan. The Principal Office of State Life is located in Karachi, Pakistan. The company was formed in November 1972, following the nationalization of the life insurance business in Pakistan in March 1975. Prior to this, 36 life insurance companies were involved in the life insurance business, which were later merged and placed under three Beema Units; named “A”, “B” and “C”. These Beema Units were then merged to form the State Life Insurance Corporation of Pakistan.