navigation search this article has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . january 2016 learn how and when to remove this template message this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . june 2016 learn how and when to remove this template message learn how and when to remove this template message type government organization industry life insurance founded 1972 headquarters karachi pakistan key people nargis ghaloo chairperson products life insurance pensions annuities total assets rs .293 billion owner government of pakistan number of employees 5 500 2013 website www.statelife.com.pk state life insurance corporation of pakistan the corporation was incorporated on november 1 1972 under the life insurance nationalization order 1972 . due to its well established agency network of more than 90 000 sales people state life is the largest life insurance corporation since 1972 in pakistan . contents 1 brief history 2 objectives 3 key business & highlights 3.1 individual life 4 investment portfolio and investment incomes 5 subsidiaries 6 state life s products 7 references brief history edit the state life s principal office the life insurance business in pakistan was nationalized in march 1972 . prior to 1972 32 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 beema units . later these beema units were merged on november 1 1972 and state life insurance corporation of pakistan came into existence . the major function of state life insurance corporation of pakistan is to carry out life insurance business ; however it is also involved in the other business activities such as investment of policyholders fund in government securities stock market real estate etc. objectives edit to run life insurance business on sound lines to provide more efficient service to policyholders to maximize return to policyholders by economizing expenses and increasing 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 make it available to as large a section of the population as possible extending it from comparatively more affluent sections of society to the common man in towns and villages key business & highlights edit individual life edit total number of policies in force individual life was 357 413 in 1973 and 3 774 293 in 2011 . first year premium has gone up from 48.2 year 1973 million rupees to 11.7 billion rupees year 2011 . investment income has enhanced to 30.74 billion rupees in year 2011 . total death claims paid by the corporation are 7 409 amounting to 1.4 billion rupees for the year 2010 . the corporation declared record bonus of 24.7 billion rupees for the year 2010 which is 26.6 percent higher compared to 19.5 billion over last year . . investment portfolio and investment incomes edit slic s investments are government securities 67 % corporate debts 1 % equities 9 % investment property 1 % bank deposits 10 % loans against policies 8 % and other assets 4 % as at 31 december 2011 . the balanced composition of the investment portfolio helps slic to earn a good rate of return the benefit of which is ultimately passed on to the policyholders . in 2011 state life was able to earn an investment income of rs . 30.74 billion as compared to rs . 26.98 billion in 2010 . this growth in investment income reflects an increase of 14 % during this duration . subsidiaries edit 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 state life s products edit state life basically deals in following line of business annuities conventional life insurance home business group life insurance pension services universal life business home business references edit www.statelife.com.pk state life company profile https www.mustakbil.com company 15623 www.statelife insurance.com www.slickkm.com retrieved from https en.wikipedia.org w index.php title state life insurance corporation of pakistan & oldid 727560970 categories life insurance companiesinsurance companies of pakistanpakistan federal departments and agencies1972 establishments in pakistanhidden categories articles with a promotional tone from january 2016all articles with a promotional tonearticles needing additional references from june 2016all articles needing additional references navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 29 june 2016 at 19 56 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view