KARACHI, Sept 26: The State Life Insurance Corporation (SLIC) has earned first year premium from new business amounting to Rs650 million during January to August period of 2002. This shows an increase of 33.34 per cent as against premium earned in same period last year.

According to a press release of SLIC, Divisional Head of Marketing Agha Ashraf Abbas informed the senior marketing executives that the corporation sold life insurance policies to 79,174 individuals and their families. The number of new policyholders this year increased by 27.67 per cent.

The second year persistency of insurance was 60.34 per cent and third year 90.97 per cent. The SLIC has met 79.74 per cent of new business target set for the year 2002. The international operations of SLIC obtained 41 per cent new business till July. The Life Fund now amounts to Rs78 billion.