With-profit insurance: State Life announces Rs23b bonus

KARACHI: The State Life Insurance Corporation of Pakistan (SLIC) on Wednesday announced a bonus of Rs23.454 billion on its with-profit insurance policies as per the actuarial evaluation of 2011. Talking to the media, SLIC Head of Corporate Communications Muzaffar Ahmed said the amount of bonus last year was Rs18.595 billion, which shows an increase of 26.13%. About 97.5% of SLIC’s actuarial surplus income is given out every year as a bonus to its policyholders while the remaining 2.5% is invested in government’s long-term economic plans. The Life Fund of SLIC is worth Rs269 billion.

Published in The Express Tribune, May 3^rd, 2012.