Gilani asks State Life to use network for economic growth

ISLAMABAD - Chairman State Life Insurance Corporation Shahid Aziz Siddiqui called on Prime Minister Syed Yousuf Raza Gilani at the PM House on Saturday morning and briefed him about matters relating to his organisation. The Prime Minister said that the existing network of State Life be fully utilised for the economic growth of the country and the well-being of the people. The State Life should extend its services to health insurance sector as well, especially for providing coverage to the Prime Ministers initiative on hepatitis prevention and control, he said. State Life Corporation should also play a role in the provision of health facilities under the Benazir Income Support Programme. The Prime Minister appreciated the 28 per cent growth rate achieved by State Life during 2008 and expected it to be increased to 35 per cent by the end of 2009. Chairman State Life informed the Prime Minister that in 2007 the income of the Corporation was Rs 36.2 billion which became Rs 41.8 billion in 2008 and is expected to reach Rs 46.8 billion by December this year. He apprised the Prime Minister that Life Fund of State Life which was Rs 157 billion in 2007 is expected to go up to Rs 193 billion by the end of this year. This year alone, he expected that Rs 19.87 billion will be added into the Life Fund. In addition, he briefed the Prime Minister the total investment income of State Life has increased from Rs 17.5 billion in 2007 to Rs 18.9 billion by year-end. He said State Life is insuring 2.9 million policy holders in individual life insurance and 4 million policy holders in group insurance. Chairman State Life also presented Prime Minister a report on the performance of the Corporation for the year 2008.

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