SLIC declares special bonus for policyholders and cash dividend for GoP

KARACHI: State Life Insurance Corporation of Pakistan (SLIC) is celebrating a record-breaking 2023 financial performance and is proud to announce the State Life Khushali Bonus; a special one-time profit bonus of Rs 10 billion for all with profit participating policies in force as at December 31, 2023. This special bonus adds to the 2023 Annual Profit Bonus allocation of Rs 109.7 billion, bringing the Total Annual Profit Bonus to an impressive Rs 119.7 billion, marking a 23% increase compared to 2022.

Furthermore, SLIC is pleased to report a substantial surge in the Total Profit Bonus allocated to policyholders of its UAE branch, reaching Rs 1.74 billion, reflecting an impressive 84 percent escalation compared to 2022.

In addition to the policyholder benefits, SLIC announces a Special Cash Dividend amounting to Rs 0.5 billion, disbursed to its shareholder, the Government of Pakistan (GoP). This dividend increment contributes to the Total Shareholder Cash Dividend, which now stands at Rs 2.5 billion, illustrating a substantial 25% increase from 2022.

“The exceptional performance of the corporation in 2023 enables SLIC to declare a special Profit Bonus for our esteemed policyholders, alongside a special cash dividend to the Government of Pakistan,” stated Shoaib Javed Hussain, CEO of SLIC. “SLIC’s strong growth and financial standing serve as a testament to Pakistan’s potential, leading to increased rewards and dividends that enhance the value we offer to our policyholders and the Government of Pakistan.”

Copyright Business Recorder, 2024