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 providing value added-services.”Husain Lawai said, “At Summit Bank, we strive to provide world-class financial services to our customers across Pakistan. We do this through innovative products and excellence in customer service. We are pleased to be entering into an agreement with State Life Insurance Corporation, the leading insurer of Pakistan, and look forward to providing additional value to our customers through SLIC’s bancassurance products.” Earlier Satate life insurance and Summit Bank Limited (SBL) have signed a Bancassurance Distribution Agency Agreement.Under the agreement, SLIC Bancassurance products will be offered by Summit Bank to existing and potential customers through the bank’s widespread distribution channels.The agreement was signed by SM Abbas Rizvi, deputy general manager, bancassurance, SLIC, Zahir Esmail, chief operating officer, Summit Bank Limited and Naseem Rawther, CEO GBA Services (Pvt) Limited on behalf of their respective organisations.The alliance between SLIC and Summit Bank provides customers with protection that ensures their financial security. With Summit Bank as its new bancassurance partner, State Life Insurance Corporation looks forward to a significant expansion of its business which will benefit from a wider, strategically located distribution network across the country.The signing ceremony was attended by Nargis Ghaloo, chairperson SLIC, Husain Lawai, president and CEO Summit Bank, SLIC Executive Director Ajaz Ali Khan, Jamil Anwar and Izqar Khan. Summit Bank representatives Faisal Murad, head of consumer banking, Saima Khan, regional general manager, South #1 (officiating) and Aamir Hussain, area manager, among others.