A BRIEF HISTORY OF

STATE LIFE INSURANCE

CORPORATION OF

PAKISTAN

NATIONALIZATION OF LIFE

INSURANCEThe life insurance business in Pakistan was nationalized under a Presidential Order on 19th March 1972. It was executed in two stages. In the first stage which covered the period 19th March to 31 October 1972, the management of 32 life insurance companies were taken over by the government. Trustees and sub-trustees were appointed by the Government to takeover different companies and to co-ordinate and guide their activities.

NATIONALIZATION OF LIFE

INSURANCEThe Government constituted Life Insurance Management Board (LIMB). The Board’s term included the task of recommending a permanent set up of life insurance within the framework of nationalization. The Board recommended establishing a single corporation with three units.

The second phase of nationalization started by establishment of Single Corporation called State Life Insurance Corporation of Pakistan with 3 Units called A, B, and C operating throughout Pakistan and competing with one another.On 1st October 1975, the 3 Units merged and different Zones were created. Initially there were five Zones with their Zonal offices at Karachi, Hyderabad, Lahore, Rawalpindi and Peshawar. The figure has increased to 26 Zones under four different Regions, South, Central, North and Multan headed by very competent Executives.

NATIONALIZATION OF LIFE INSURANCE

By the Grace of Allah the Almighty, State Life has made steady progress in all fields of its operations. The future is even brighter as the Corporation is making very positive strategies for not only maintaining its market leadership but displaying beyond any doubt that it deserves the matchless corporate image created during the last decades.

NATIONALIZATION OF LIFE INSURANCE

OBJECTIVES To run life insurance business on sound lines.

To provide more efficient service to the policyholders.

To maximize the return to the policyholder by economizing expenses and increasing the 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 the comparatively more affluent sections of society to the common man in towns and villages.

To use the policyholder’s fund in the wider interest of the community

MISSION STATEMENT “To remain the leading insurer in the country by

extending the benefits of life insurance to all sections of society and meeting our commitments to our policyholders and the nation.”

To ensure satisfaction of our valued policyholders in processing new business, providing after sales service and optimizing return on life fund through a quality culture and to maintain our position as the leading life insurer in Pakistan.

QUALITY POLICY

ORGANIZATIONALSTRUCTURE

ORGANIZATIONAL CHARTPRINCIPAL OFFICE

CHAIRMAN

Executive Director

Divisional Head Actuarial

Divisional Head Personal & General

Services

Divisional Head Legal affairs

Divisional Head Marketing

Divisional Head Corporate Affairs

Divisional Head Research and

Analysis

Executive Director

Divisional Head Finance & Accounts

Divisional Head Real EstateOperation

Divisional Head P.H.S Inspection

& Evaluation

Executive Director

Divisional Head Group & Pension

Divisional Head Real Estate Inspection

& Evaluation

Divisional Head P.H.S Operation

Executive Director

Divisional Head Information Technology

Divisional Head Internal Audit and

Compliance

Divisional Head Investment Bancassurance Cell

STATE LIFEOWNED

COMMERCIAL BUILDINGS

STATE LIFE BUILDING NO. #1A, 1B & IC I.I. Chundrigar Road

STATE LIFE BUILDING NO. 1& Annex

I.I. Chundrigar Road

KARACHI

STATE LIFE BUILDING NO. 2, 2A & 2B

Wallace Road

STATE LIFE BUILDING NO. 3

Dr. Ziauddin Ahmed Road

KARACHI

KARACHI

STATE LIFE BUILDING NO. 4

Shahreh Liaquat

STATE LIFE BUILDING NO. 5B

Zaibunnissa Street, Saddar

KARACHI

STATE LIFE BUILDINGNO. 5 & 5A

Abdullah Haroon Road

STATE LIFE BUILDINGNO. 9 , Principal Office,

Dr. Ziauddin Road

KARACHI

STATE LIFE BUILDINGNO. 11

Abdullah Haroon Road

STATE LIFE BUILDINGNO. 12

Abdullah Haroon Road

HYDERABAD

GUL CENTER164 Hyderabad Cantt

STATE LIFE BUILDING NO. 50 Thandi Sarak

Hyderabad

MIRPURKHAS

STATE LIFE BUILDING Mirpurkhas

LARKANA AND SUKKUR

STATE LIFE BUILDING Quaid-e-Awam Road

Larkana

STATE LIFE BUILDING Minara Road

Sukkur

MULTAN AND RAWALPINDI

STATE LIFE BUILDINGChowk Nawan Shahar

Multan

STATE LIFE BUILDING NO. 1 ,The Mall

Rawalpindi

ISLAMABAD

STATE LIFE BUILDING No. 9, 33-E , Buland Markaz

Islamabad

STATE LIFE BUILDING Plot NO. 7 - (Phase-1) Blue Area - Islamabad

FAISALABAD

STATE LIFE BUILDINGNo. 2 Liaquat Road

Faisalabad

PESHAWAR & D.I. KHAN

STATE LIFE BUILDINGNO. 1 The Mall Peshawar

STATE LIFE BUILDING63-p Circular RoadDera Ismail Khan

PROJECTS IN PLANNING OR

UNDER CONSTRUCTION ISLAMABAD 01 GUJRANWALA 01 SIALKOT* 01 SARGODHA* 01 RAHIMYAR KHAN* 01 SAHIWAL* 01

TOTAL 06

*PROJECTS IN PLANNING

STATE LIFE TOWER ISLAMABAD

BUILDING COMPRISES OF

3 BASEMENTS+ GROUND FLOOR + 18 UPPER FLOORS

STATE LIFE BUILDING GUJRANWALA

BUILDING COMPRISES OF BASEMENTS + GROUND FLOOR + 5 UPPER FLOORS

STATE LIFE BUILDING SARGODHA

BUILDING COMPRISES OF

BASEMENTS+ GROUND FLOOR+ 4 UPPER FLOORS

STATE LIFE BUILDING SIALKOT

BUILDING COMPRISES OF

BASEMENTS + GROUNDFLOOR + 4 UPPER FLOORS

COMMERCIAL BUILDINGS S.# City No. of

buildingsInherited Purchased

Constructed 1. Karachi 22 17 05*2. Hyderabad 03 01 023. Sukkur 01 00 014. Larkana 01 00 01 5. Mirpurkhas 01 00 016. Multan 01 00 017. Faisalabad 02 01 018. Lahore 09 07 029. Gujrat 01 00 0110. RawalPindi 04 03 0111. Islamabad 05 00 0512. D.I.Khan 01 00 0113. Peshawar 01 00 01

TOTAL 52 29 23

* One building owned by State Life Subsidiary

1. Karachi 09 07 02

2. Lahore 03 03 00

3. Quetta 0 00 01

4. Resorts and Hut 03 03 00

RESIDENTIAL BUILDINGS

S.# City No. of buildings

Inherited Purchased

Total 16 13 03

1. Karachi 05 01 04*2. Lahore 03 02 013. Islamabad 02 01 014. Mirpur ( A.K.) 02 00 025. Sahiwal 01 00 016. R.Y Khan 01 00 017. Sialkot 01 00 018. Nawab Shah 01 00 019. Gujranwala 01 00 0110. Sargodha 01 00 01

DETAIL OF PLOTSS.# City No. of

buildingsInherited Purchased

Constructed

TOTAL 18 04 14

* One plot owned by State Life Subsidiary

1. Karachi 22 1,442,4632. Hyderabad 03 136,1923. Sukkur 01 20,5604. Larkana 01 30,0005. Mirpurkhas 01 35,8156. Multan 01 29,0067. Faisalabad 02 95,8928. Lahore 09 333,8219. Gujrat 01 70,50010. RawalPindi 04 56,43311. Islamabad 05 213,23412. D.I.Khan 01 37,00013. Peshawar 01 145,423

RENTING – COMMERIAL BUILDINGSS.# City No. of

buildingsRentable area ( Sft)

TOTAL 52 2,646,339 SFT

ACHIEVEMENTS

1973 1980 1990 1995 2000 2005 2006 2007 2008 20090

1000

2000

3000

4000

5000

6000

7000

8000

48.2 110846.2

2026.3

1040.7

2805.73327.2

3853.5

5158.6

7196.3

YEAR

Scal

eFIRST YEAR PREMIUM

IN MILLIONS (PKR)

SOURCE: 37th Annual Report 2009

1973 1980 1990 1995 2000 2005 2006 2007 2008 20090

2000400060008000

100001200014000160001800020000

218.9 364.52266.5

3935.1 4537.8

8454.29999999998

9784.79999999998

12053.613993.5

17656.9

YEAR

Scal

e RENEWAL PREMIUM IN MILLIONS (PKR)

SOURCE: 37th Annual Report 2009

1973 1980 1990 1995 2000 2005 2006 2007 2008 20090

500

1000

1500

2000

2500

3000

3500

4000

49.6 163.5

642.4

1177.5 1102

2547.92865.8 2795.7

3532.2 3490.8

YEAR

Scal

e GROUP LIFE PREMIUM

IN MILLIONS (PKR)

SOURCE: 37th Annual Report 2009

1973 1980 1990 1995 2000 2005 2006 2007 2008 20090

5000

10000

15000

20000

25000

30000

316.7 638

3755.1

7138.9 6680.5

13820.115991.6

18716.7

22695.3

28366.9

YEAR

Scal

e TOTAL PREMIUM

IN MILLIONS (PKR)

SOURCE: 37th Annual Report 2009

1973 1980 1990 1995 2000 2005 2006 2007 2008 20090

20000

40000

60000

80000

100000

120000

140000

160000

180000

200000

1493.7 3111.316320.8

39338.7

68127

122775.2137959.8

156737.3

177459.1

199445.3

YEAR

Scal

e LIFE FUND

IN MILLIONS (PKR)

SOURCE: 37th Annual Report 2009

1973 1980 1990 1995 2000 2005 2006 2007 2008 20090

2

4

6

8

10

12

14

16

6.6

10

13.6

14.9

12.812 12.1 12.6 12.2 12.1

YEAR

Scal

eYIELD ON LIFE FUND (%)

SOURCE: 37th Annual Report 2009

1973 1980 1990 1995 2000 2005 2006 2007 2008 20090

500000

1000000

1500000

2000000

2500000

3000000

357413 413231

1297879

20349691878139

20440152183783

23487912568698

2895354

Year

Scal

eNO. OF INDIVIDUAL LIFE

POLICIES INFORCE

SOURCE: 37th Annual Report 2009

BONUSES(1977 TO 2009)

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98 99-2000

0

10

20

30

40

50

60

70

80

90

100

33 35 3845 46

50 50

67

52

74

52

79

52

84

54

91

56

98

WHOLE LIFE – 1977 to 2000

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

2001-2003 2004-2005 2006 2007-2009

0

20

40

60

80

100

120

140

160

56

102

56

102

56

102

150

60

110

150

WHOLE LIFE – 2001 to 2008

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98

0

10

20

30

40

50

60

70

80

90

26 2833

38 39 42 42

59

44

66

44

71

44

76

46

83

Year

Rs .i

n M

illio

nEndowment- 20 Years & above

1977 TO 1998

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

99-2000 2001-2003 2004-2005 2006 2007-2009

0

20

40

60

80

100

120

140

48

90

48

94

48

94

48

94

130

50

94

130

Year

Rs .i

n M

illion

1999 TO 2009ENDOWMENT- 20 YEARS &

ABOVE

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98

0

10

20

30

40

50

60

18 1922

26 27 29 29

46

16

38

16

43

16

48

18

55

Year

Rs .i

n M

illion

ENDOWMENT- 15 TO 19 YEARS1977 TO 1998

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

99-2000 2001-2003 2004-2005 2006 2007-2009

0

10

20

30

40

50

60

70

80

90

20

62

20

66

20

66

20

66

81

35

81 81

Year

Rs .i

n M

illio

nENDOWMENT- 15 TO 19 YEARS

1999 TO 2009

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98

0

10

20

30

40

50

60

12 12 12 12 13 14 14

31

16

38

16

43

16

48

18

55

Year

Rs .i

n M

illio

nENDOWMENT- 14 YEARS & LESS

1977 TO 1998

Annual Reports

ENDOWMENT- 14 YEARS & LESSFo

r 1-5

Yea

rs

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

99-2000 2001-2003 2004-2005 2006 2007-2009

0

10

20

30

40

50

60

70

20

62

20

66

20

66

20

66

20

66

Year

Rs .i

n M

illio

n

1999 TO 2009

Annual Reports

77-78 79-80 81-82 83-84 85-86 87-880

2

4

6

8

10

12

14

23

7

12

14 14

Year

Rs .i

n M

illio

nPERSISTENCY BONUS FROM THE 6TH

POLICY YEAR ONWARD1977 TO 1988

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98

0

5

10

15

20

25

30

20 20 20 20 20 20 20 20 20 20 20 20

30 30

Year

Rs .i

n M

illio

nTERMINAL BONUS FOR EACH YEAR IN EXCESS

OF 10 YRS. (MAX RS.800)

1977 TO 1998

Annual Reports

TERMINAL BONUS FOR EACH YEAR IN EXCESS OF

10 YRS. (MAX RS.800)Fo

r 1-5

Yea

rs

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

99-2000 2001-2003 2004-2005 2006 2007-2009

05

101520253035404550

30 30 30 30

50 50 50 50 50 50 50 50

Year

Rs .i

n M

illio

n

1999 TO 2009

Annual Reports

ANTICIPATED ENDOWMENT, 20 YEARS & ABOVE

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98

0

10

20

30

40

50

60

26 26 26 26 26 28 29 29 3136

31

46

31

51

33

58

Year

Rs .i

n M

illio

n

1977 TO 1998

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

99-2000 2001-2003 2004-2005 2006 2007-2009

0

10

20

30

40

50

60

70

80

90

100

35

65

35

69

35

69

35

69

100

35

69

100

Year

Rs .i

n M

illio

nANTICIPATED ENDOWMENT, 20 YEARS & ABOVE

1999 TO 2009

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98

0

5

10

15

20

25

30

35

40

45

50

18 18 18 18 18 18 19 1921

26

21

36

21

41

23

48

Year

Rs. i

n M

illio

nANTICIPATED ENDOWMENT, 15 TO 19 YEARS

1977 TO 1998

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

99-2000 2001-2003 2004-2005 2006 2007-2009

0

10

20

30

40

50

60

25

55

25

59

25

59

25

59 59

25

59 59

Year

Rs. i

n M

illio

nANTICIPATED ENDOWMENT, 15 TO 19 YEARS

1999 TO 2009

Annual Reports

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

77-78 79-80 81-82 83-84 85-86 87-88 89-90 91-92 93-94 95-96 97-98

0

5

10

15

20

25

30

35

40

45

12 12 12 12 12 12 13 1315

20

15

30

15

35

17

42

Year

Rs. I

n M

illio

nANTICIPATED ENDOWMENT, 14 YEARS & LESS

1977 TO 1998

Annual Reports

ANTICIPATED ENDOWMENT, 14 YEARS & LESS

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 +

Yea

rs

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

For 1

-5 Y

ears

From

6 -1

6 Ye

ars

From

17

Year

s to

Onw

ards

99-2000 2001-2003 2004-2005 2006 2007-2009

0

10

20

30

40

50

60

19

49

19

53

19

53

19

53

19

53

Year

Rs. I

n M

illio

n

1999 TO 2009

Annual Reports

For 1-5 Years From 6 + Years

For 1-5 Years From 6 + Years

For 1-5 Years From 6 -16 Years

From 17 Years to

Onwards

For 1-5 Years From 6 -16 Years

From 17 Years to Onwards

2001-2003 2004-2005 2006 2007-2009

0

20

40

60

80

100

120

140

160

56

102

56

102

56

102

150

60

110

150

WHOLE LIFE – 2001 to 2008

Annual Reports

ONE TIME BONUSONE TIME BONUS @Rs.40/- PER THOUSAND SUM ASSURED PAYABLE ON DEATH OR MATURITY TO ALL WITH PROFIT POLICIES INFORCE AS AT 31.12.94 AND OTHERWISE QUALIFIES

GOLDEN JUBILEE BONUSGOLDEN JUBILEE BONUS @RS.50/- PER THOUSAND SUM ASSURED PAYABLE ON DEATH OR MATURITY TO ALL WITH PROFIT POLICIES INFORCE AS 31.12.96 AND OTHERWISE QAUALIFIES

MILLENNIUM BONUSMILLENNIUM BONUS @RS.51/- PER THOUSAND SUM ASSURED PAYABLE ON DEATH OR MATURITY TO ALL WITH PROFIT POLICIES INFORCE AS AT 31.12.2000 AND OTHERWISE QUALIFIES

30TH ANNIVERSARY BONUSFOR WHOLE LIFE AND ENDOWMENT POLICIES, @RS.48/- PER THOUSAND SUM ASSURED FOR EACH YEAR'S PREMIUM PAID TILL DECEMBER 31, 2002 IN EXCESS OF 10 YEARS.SUBJECT TO A MAXIMUM OF RS.480/- PER THOUSAND SUM ASURED FOR ANTICIPATED ENDOWMENT POLICIES, THE RATE OF THIS BONUS WILL BE RS.24/- PER THOUSAND. SUM ASSURED FOR EACH YEAR'S PREMIUM PAID TILL DECEMBER 2002 IN EXCESS OF 10 YEARS SUBJECT TO A MAXIMUM OF RS.240/- PER THOUSAND SUM ASSURED.

TERMINAL/LOYALTY TERMINAL BONUS FOR PAID-UP POLICIES(1). PAID-UP POLICIES (WHOLE LIFE AND ENDOWMENT) TERMINATING BY WAY OF DEATH OR MATIRITY IN 2010, WILL GET TERMINAL BONUS SUBJECT TO TERMS MENTIONDED BELOW:

(a). THE POLICY HAS BEEN ON THE BOOKS FOR MORE THAN 10 YEARS (b). THE RATE WILL BE RS.50/- PER THOUSAND PAID-UP SUM ASSURED FOR EACH YEAR IN EXCESS OF 10 YEARS SUBJECT TO A MAXIMUM OF RS.1,000/- PER THOUSAND PAID-UP SUM ASSURED.

OTHER BONUSES