LAHORE: Punjab has become the first province in the country to introduce a ‘General Insurance Company’, as per a handout.

The chief minister has directed the Punjab General Insurance Company to present a comprehensive health insurance policy plan. A summary for the company’s establishment has been forwarded to the provincial cabinet for approval.

She also instructed authorities to incorporate the private sector into the insurance framework and ensure the provision of necessary infrastructure and resources. The business plan and swift progress on approvals were appreciated during the meeting.

Officials informed that the Punjab Life Insurance Company is moving forward to manage the chief minister’s health initiatives, including the Sehat Sahulat Programme. A special committee has been constituted for the Punjab General Insurance Company, which will oversee all non-life insurance matters of government institutions under the supervision of the finance department.

Plan targets women, transgender persons, farmers, students and expats; private sector to join the initiative

The Punjab Life Insurance Company will introduce specialised insurance products for various segments of society, including family breadwinners, women, transgender persons, farmers, students, and overseas Pakistanis.

Chairing a meeting on the initiative, the chief minister said Punjab has consistently led reforms and would continue to do so. She added that a new health insurance policy would allow citizens to seek medical treatment at facilities of their choice.

Punjab has also achieved a milestone as the Punjab Life Insurance Company secured the fastest registration in the country’s history with the Securities and Exchange Commission of Pakistan. The company aims to provide financial protection across all income groups through products covering natural disasters, pension schemes, health insurance for the underprivileged, and Shariah-compliant Takaful.

The meeting was informed that 17 professional experts have been recruited, and the company has commenced operations after securing financial backing. The CEO of the Punjab Life Insurance Company will also serve as the CEO of the Punjab General Insurance Company.

A board comprising the Planning and Development chairman, finance secretary and president of the Bank of Punjab will be established to oversee the initiative.

Officials further briefed that the Punjab Life Insurance Company is collaborating with institutions to develop schemes related to the workers’ welfare fund, pension coverage for retirees, and other public welfare programmes.

The CM directed authorities to ensure infrastructure and resource availability, stating that Punjab must keep pace with global advancements in the insurance sector while continuing to lead in reforms.

Published in Dawn, May 7th, 2026