Punjab first province with general insurance company

Punjab has become the first province in the country to launch a general insurance company. During a briefing, Chief Minister Maryam Nawaz Sharif directed the Punjab General Insurance Company to present a comprehensive health insurance policy plan.

A summary for the establishment of the company has been sent to the provincial cabinet. Instructions were also issued to include the private sector in the insurance plan and to ensure the provision of infrastructure and resources.

According to a statement, the business plan of the company and the swift approval process were appreciated.

It was shared that the Punjab Life Insurance Company is moving forward to manage the CM's health initiatives and Sehat Sahulat Programme.

A committee was constituted and assigned responsibility for insurance issues related to government institutions except life insurance under the supervision of the finance department.

The Punjab Life Insurance Company will introduce special insurance plans for family breadwinners, women, transgender persons, farmers, students and overseas Pakistanis.

Chairing the meeting regarding the Punjab General Insurance Company, Chief Minister Maryam Nawaz said the province had always led in reforms. She said a health insurance policy would be introduced, enabling citizens to seek treatment wherever they prefer.

The participants were informed about the fastest registration in the country's history by the Punjab Life Insurance Company with the Securities and Exchange Commission of Pakistan (SECP). The company will provide financial protection to citizens from all segments and income groups through specialised insurance plans, including coverage for natural disasters, pension products, health for the underprivileged and Shariah-compliant Takaful.