ISLAMABAD: The Securities and Exchange Commission of Pakistan has granted a licence to Punjab Life Insurance Company Ltd (PLIC), marking the establishment of Pakistan’s first provincial government-owned life insurance company.
The Punjab government, through this company, intends to efficiently manage its social health insurance programmes.
As per the business proposal, PLIC will work towards Insured-Pakistan, particularly the Insured Punjab objective, thus increasing the insurance penetration in Pakistan.
The company will also provide innovative financial protection and savings solutions to the underserved segments, including the salaried class, small business owners, farmers, and daily wage workers.
It will help expand coverage to low-income and vulnerable groups through sustainable insurance products.
In addition, the PLIC plans to develop pension-related solutions and annuity products over time.
Published in Dawn, March 29th, 2026