KARACHI, Sept 11: The State Life Insurance Corporation (Slic) has paid Rs3.99 billion as individual and group life claims to policyholders and their families during the first half of 2007.

This was stated by Slic chairman Kamal Afsar while addressing delegates of State Life Convention 2007 held at Bhurban on Sept 10.

He said there was a rapid growth in Slic fund which now stands at Rs127 billion and has successfully allocated Rs8.44 billion as actuarial surplus as bonus.

Mr Afsar said Slic aims to provide optimum financial protection through life insurance both in urban and rural areas.

He said that Slic was swiftly settling death claims of earthquake victims 2005 and informed the participants that corporation’s investment portfolio stood at Rs142 billion while the investment income surged to Rs15 billion as on Dec 31, 2006.Kamal Afsar appreciated the working of marketing staff of the Slic and said they have achieved their business targets.

He informed the participants that Slic intends to introduce micro insurance for low income groups, says a press release.