Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
State Life secures Rs2.13bn during 1QFY11
05-16-2011, 11:32 AM
Post: #1
State Life secures Rs2.13bn during 1QFY11
ISLAMABAD: State Life Insurance Corporation of Pakistan has successfully secured Rs.2.13 billion as First Year Premium (New Business) during the 1st Quarter of 2011 showing an increase of 27 percent while in the year 2010 corporation had secured record First Year Premium of Rs.9.33 billion showing an unprecedented increase of 35 percent’.

This was stated by State Life Chairman Shahid Aziz Siddiqui while talking to media persons on the occasion of State Life Convention 2011 held at Bhurban Murree on Thursday.

He informed that ‘State Life till 1QFY11 has paid total amount of Rs.2.48 billion against all claims, thus providing the cover for 17,655 families, out of which Rs.0.329 billion has paid as death claims to 1,702 families of policyholders and Rs.2.16 billion as Maturity claims to 15,953 policyholders,’.

‘While 2010 State Life has also paid Rs.7.85 billion on account of claims thus providing financial protection and savings to thousands of valued policyholders and their families nationwide,’ he added.

Siddiqui informed that Renewal Premium also touched the figure of Rs.19.54 billion showing an increase of 28 percent.

The Marketing force of State Life also extended financial protection to 6,51,460 new families nationwide during the year 2010.

Chairman State Life said that Corporation's Life Fund which is the key indicator of its financial stability has now reached to Rs.225 billion.

Replying to a question Siddiqui informed that State Life is planning to launch some new life insurance plans, so that people can invest their small savings in the life insurance policies. The work is also in progress in Bancassurance & Takaful.

He further stated that State Life in support of Government social programme ‘Benazir Income Support Program’ has provided Rs. 1,00,000 as group insurance to hundred thousands of families.

Siddiqui said that State Life's Business in Gulf Region has also improved and in 2010 it has procured new premium around 36 hundrend thousand US $ showing 16.1 percent increase over the previous year.

Replying to another question, he said that Corporations' Investment Portfolio is also progressing and in 2010 the investment income has reached to Rs.27.73 Billion, while the target for 2011 is Rs. 33 billion.

He further said that in 2010 it has secured Rs. 240 million as net income from its real estate operations.

Siddiqui said that the management has also launched construction projects of State Life buildings at Sargodha, Sialkot and Rahim Yar Khan to provide quality space for business promotion in these cities.

Syed Arshad Ali, Malik Asrar Hussain, Abdul Hafeez Sheikh and Shoaib Mir Memon Executive Directors State Life and senior corporate executives were also present on the occasion.

Syed Arshad Ali, Executive Director Marketing & Group & Pensions said that in the Group Life side it has so far secured new premium of Rs.965 million while in 2010 it has secured Rs.3.955 billion premium from 1294 groups.

He further said that till 1QFY11 in individual life business; State Life's all four Regions have shown exemplary performance.

State Life's Multan, Central, Southern and Northern Regions has shown a record increase of 36.70 percent, 30.81 percent, 17.42 percent, 20.42 percent respectively.

Earlier, Aziz Siddiqi congratulated the marketing force and top business leaders on securing their business targets in 2010 and stress that better services be provided to the valued policyholders.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Crackdown Against Encroachments – State’s Land Of Worth Rs. 1.5 billion Recovered Salman 0 872 02-28-2014 01:40 PM
Last Post: Salman
  State Bank Remove Loan Limit for Real Estate Sector Salman 0 1,656 01-07-2014 02:29 PM
Last Post: Salman
  LDA retrieves 30 state kanals Salman 0 1,127 07-27-2012 11:55 AM
Last Post: Salman
  RTMA reclaims state land Salman 0 656 05-31-2012 01:12 PM
Last Post: Salman
  Lyari Development News :Rs1.13bn for Hawkesbay road, Salman 0 852 01-06-2012 01:40 PM
Last Post: Salman
  State within state: Gated community sparks i Lahore_Real_Estate 0 720 10-11-2011 11:21 AM
Last Post: Lahore_Real_Estate
  Virgin state land be distributed among people for cultivation Lahore_Real_Estate 0 789 08-04-2011 12:32 PM
Last Post: Lahore_Real_Estate
  State land: Officials ‘exaggerated’ recovery numbers Lahore_Real_Estate 0 1,045 07-02-2011 12:06 PM
Last Post: Lahore_Real_Estate
  LDA brings back two housing schemes to life Lahore_Real_Estate 0 1,202 05-21-2011 11:57 AM
Last Post: Lahore_Real_Estate
  Wife is Life? LRE 0 667 01-23-2011 11:53 AM
Last Post: LRE
  Sherry Rehman says she faces threat to life Lahore_Real_Estate 0 1,034 01-05-2011 02:45 PM
Last Post: Lahore_Real_Estate
  Life & Death (Atta Ul Haq Qasmi) LRE 0 776 12-23-2010 11:11 AM
Last Post: LRE
  Bahria Town’s State-of-the-Art Phase-8 Hospital inaugurated by Dr. Abdul Qadeer Khan Lahore_Real_Estate 0 1,366 10-30-2010 04:53 PM
Last Post: Lahore_Real_Estate
  State Bank asks banks to comply with anti-harassment law Lahore_Real_Estate 0 1,275 09-08-2010 03:41 PM
Last Post: Lahore_Real_Estate
  Trust on State! LRE 0 839 08-07-2010 12:09 AM
Last Post: LRE
  Failed State (Hamid Mir) LRE 0 1,124 06-29-2010 01:14 AM
Last Post: LRE
  Contradictory Behavior of State/Police! LRE 0 876 06-13-2010 12:20 PM
Last Post: LRE
  State Bank’s monetary policy Lahore_Real_Estate 0 1,196 05-26-2010 11:01 AM
Last Post: Lahore_Real_Estate
  Punjab govt to return State Bank loan Lahore_Real_Estate 0 1,485 05-25-2010 11:47 AM
Last Post: Lahore_Real_Estate
  Police State & CM! LRE 0 812 05-18-2010 11:50 PM
Last Post: LRE

Forum Jump:


User(s) browsing this thread: 1 Guest(s)