SMCL, AICL sign SLA on bundled livestock protection programme

HYDERABAD: SAFCO Microfinance Company Limited (SMCL) and Asia Insurance Company Limited have formally signed a Service Level Agreement (SLA) to roll out a bundled Livestock Protection and Social Benefit Program.

This innovative insurance product is integrated with SMCL’s livestock loan and climate-resilient products, designed to protect and uplift rural livelihoods across Pakistan.

According to a Statement from SAFCO Microfinance this milestone initiative is made possible with technical assistance supported by the InsuResilience Investment Fund (IIF), managed by BlueOrchard, and the consultancy expertise of the Micro Insurance Centre at Milliman USA.

The agreement was signed by Syed Sajjad Ali Shah, Managing Director of SMCL, and Zain Qureshi, Chief Executive Officer of Asia Insurance Company Limited, during a signing ceremony held at the PMN Office in Islamabad.

The event was graced by notable leaders including Dr. Suleman G. Abro, Founder & CEO of SMCL; Michelle McCord, CEO of MicroInsurance Centre at Milliman USA; Ali Basharat, Chief Operating Officer of the Pakistan Microfinance Network (PMN); along with senior management teams from SMCL, Asia Insurance, and PMN.

In his address, Dr. Suleman G. Abro emphasized the importance of integrating inclusive insurance into microfinance offerings, highlighting that the bundled product would serve as a crucial safety net for rural households, particularly in the face of climate change and livestock-related risks.

Michelle McCord appreciated the initiative as a forward-thinking model for resilience-building in emerging markets, underscoring the need for client-centric insurance products that reduce vulnerability and promote economic continuity.

Syed Sajjad Ali Shah, Managing Director of SMCL, shared the company’s strategic vision behind embedding insurance into its core lending operations. He stated that this initiative would not only enhance client protection but also support the long-term sustainability of rural livelihoods. He reaffirmed SMCL’s commitment to client welfare and innovation in financial services that respond to real challenges on the ground.

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