KARACHI, April 26: State Life Insurance Corporation of Pakistan (Slic) has secured Rs478 million as first year premium (new business) by providing financial protection to more than 47,615 new policyholders and their families, showing an increase of 24 per cent during the first quarter of 2005.

This was disclosed by Slic Chairman Kamal Afsar at a news conference held at the closing session of a three-day State Life second regional chiefs’ conference 2005 in Rawalpindi.

The Slic chief said that ‘renewal premium’ of the corporation stood at Rs1.30 billion in first quarter of 2005 as compared to Rs1 billion during the same period last year.

Mr Afsar appreciated the performance of Slic’s regions and zones on securing their respective business targets and hoped that State Life would secure higher target of Rs3 billion in the next three quarters of 2005. He urged upon the field staff and officers to reach every nock and corner of the country and promote life insurance business for the corporation.

Earlier, executive director (marketing) Rahat-ul-Ain said that the central region topped the list by securing Rs148.94 million business, followed by the north region Rs136.9 million, southern region Rs115.74 million, and Multan Rs77.06 million, showing an increase of 20.16 per cent, 34.88 per cent, 12.85 per cent and 31.22 per cent, respectively.

He said Slic would provide financial protection to its new policyholders by effectively providing the quality services.

Agha Ashraf Abbas, division head (marketing), presented the overview of the business strategy for securing business target of Rs3 billion in 2005.