KARACHI, Jan 17: State Life Insurance Corporation of Pakistan (SLIC) has earned investment income of Rs89.71 billion in the year 2012, 18 per cent higher than Rs75.77 billion earned a year earlier.

Briefing media, SLIC chairman Shahid Aziz Siddiqui disclosed that the total premium has increased from Rs45.03 billion in 2011 to Rs53.913 billion in 2012.

SLIC paid a total amount of Rs24.36 billion against death and maturity claims (individual and group policies), he informed, adding that in this regard an amount of Rs19.49 billion was paid to the policyholders and their families with the percentage increase of 25 per cent.

Siddiqui pointed out that the life fund of the corporation has increased from Rs268.58 in 2011 to Rs314.8 billion in 2012.The individual life policy holders have increased from 38,00,000 in 2011 to 44,00,000 in 2012.

Similarly, he said in the group and pension sector the number of lives covered has increased from 5.93 million to 7.56 in 2012 resulting in am increase of income from Rs4.991 billion to Rs8.005 billion in 2012 recording a growth of 60.36 per cent.

He recounted that the PACRA has maintained the ‘AAA’ rating of the corporation.

Siddiqui added that the recently launched ‘Committee Policy’ was an ideal for the masses as it was short term maturity and offers attractive returns.