Tuesday , 23 January 2018
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State Life to implement health insurance scheme

The government  selected State Life Insurance Corporation of Pakistan for implementation of the Prime Minister’s National Health Insurance Programme in coordination with the Ministry of Health.The insurance company will now start enrolling programme beneficiaries, empaneling hospitals, and providing health insurance services to enrolled families. “The selection of State Life Insurance Corporation of Pakistan has been done through an open and ... Read More »

Insurance made mandatory for driving licence

Insurance made mandatory for driving licence, Traffic police authorities has announced that third-party insurance of all vehicles and their drivers will be compulsory so that owner and drivers of vehicles can get insurance benefit in case of any accident.It has been observed in the metropolis that in case of even minor accident, drivers usually start fighting leaving their vehicles in ... Read More »

IAP elects Tahir Ahmed,as Chairman

The newly elected office bearers and Executive Committee members of IAP assumed their responsibilities with effect from October 1.Tahjr Ahmed, Managing Director & Chief Executive, Jubilee General Insurance, Nasar Us Samad Qureshi, Chief Executive & Managing Director, Alfalah Insurance and Muhammad Hussain Hirji, Chief Executive Officer & Managing Director, Century Insurance have been elected unopposed as Chairman, Senior Vice Chairman ... Read More »

State life earn profit Rs.810 million in 2013

State Life insurance board of directors,approved its annual financial accounts for 2013.The Corporation  , which was up 5.6% from 2012.The profit of State Life for 2013 was equal to 40.2% of the combined earnings of the six private-sector life insurance companies that operated in that year.According to the chairperson’s note attached to the annual accounts, State Life plans to launch unit-linked life ... Read More »

SLIC pays out Rs13bln against claims

Last year State Life Insurance Corporation of Pakistan paid out Rs13.091 billion against all claims, thus providing financial protection and savings to millions of valued policyholders and their families nationwide, a press release from the Corporation. State Life, the largest life insurance company of Pakistan, has a market share of 58 percent. It has a total business portfolio of Rs74 ... Read More »

Adamjee Insurance: From strength to strength

Adamjee Insurance (KSE:AICL) continued its habit of reporting upbeat results as of late. In the six months ended June 30, 2015, the firm saw its after-tax profits nearly double to Rs. 1.6 billion, as compared to the same period last year. This converts to earnings of Rs. 4.57 per share, against Rs. 2.41 in the year-ago period.The insurer experienced a ... Read More »

EFU life insurance &Advantage sign Service and Consultancy

EFU Life Assurance Ltd. and Advantedge & Partners (Pvt) Ltd. have entered into a Service and Consultancy Agreement to explore areas of mutual interest in business development for efu Life Insurance and Savings solutions. EFU Life is a leading life insurance company in Pakistan and is the first Window Family Takaful Operator licensed by SECP. Advantedge, a registered Management Consulting ... Read More »

State Life and Summit Bank ink agreement

State Life Insurance Corporation of Pakistan (SLIC) Chairperson Nargis Ghaloo said, “As the only national player in the bancassurance market, State Life Insurance Corporation feels it has an obligation to reach out to every potential customer through every available distribution channel. With the benefit of Summit Bank’s distribution network, SLIC believes this partnership will help us leverage our capabilities for ... Read More »

promotion of the micro-insurance market SECP take Steps

The Securities and Exchange Commission of Pakistan (SECP) is taking vigorous steps for the promotion of the micro-insurance market to enhance the insurance penetration and financial inclusion. It is being done in the wake of the Micro-insurance Rules that were issued to promote the micro-insurance market in Pakistan.The SECP is encouraging all the insurance companies to include micro-insurance business in their annual ... Read More »

Debate over cyber insurance

Debate on Cyber insurance is ignited as A recent case of an insurance company suing a former client to recover a $4 million claim payout has filed against Cottage Health care systems. Healthcare Systems suffered a data breach due to a hack of their systems. Their insurance company, Columbia Casualty, a division of CNA, alleges that Cottage Healthcare Systems didn’t maintain its security ... Read More »