KARACHI - State Life Insurance Corporation of Pakistan has paid total amount of Rs2.48 billion in claims to 17,655 families during the first quarter of the current calendar year. Out of the total amount of claims disbursed by the Corporation during January-March 2011, Rs0.329 billion was paid as death claims to 1,702 families of policyholders and Rs2.16 billion as maturity claims to 15,953 policyholders respectively. The Corporation paid Rs7.85 billion during 2010 on account of claims, providing financial protection and savings to thousands of valued policy holders and their families across the country, according to the statistics issued by the State Life Insurance Corporation. Meanwhile, in a statement issued Thursday, Shahid Aziz Siddiqui, Chairman State Life said that the company has successfully secured Rs2.13 billion as first year premium (new business) during the first quarter of this year, showing an increase of 27 per cent while the Corporation has secured record first premium of Rs9.33 billion, registering an unprecedented increase of 35 per cent in 2010. The Chairman further said that renewal premium touched the figures of Rs19.54 billion, up 28 per cent. The marketing force of State Life has extended financial protection to 6,51,460 new families nationwide during the year 2010. The Corporations life fund, which is the key indicator of its financial stability, has now reached Rs225 billion, the Chairman stated. The State Life is planning to launch some new life insurance plans; therefore, people can invest their small savings in the life insurance policies, he revealed. Corporations investment portfolio is improving and in the year 2010 the investment income increased to Rs27.73 billion while the Corporation has set the target of Rs33 billion for the year 2011. The Chairman further said that State Life is one of the largest real estate owners of the country. It has wisely invested the policyholders money in sound real estate projects. This not only provides earnings to the Corporation in shape of rent, but also provides space for its offices throughout Pakistan. The Corporation earned Rs240 million as net income from its real estate operations this year.