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The State Life Insurance Corporation of Pakistan (SLIC) witnessed exceptional growth in its Window Takaful Operations in 2023. First Year Contribution surged to Rs.720 million, a remarkable 122% increase from the previous year’s Rs323 million. Gross contribution reached Rs1,012 million, signifying a significant milestone in SLIC’s journey.

In just a couple of years in operations, SLIC’s Tayyab Takaful is rapidly emerging as the biggest player in the Takaful industry, demonstrating its unwavering dedication to excellence and customer satisfaction.

The inauguration of the first Takaful dedicated zone in Dera Ismail Khan propelled market penetration, similarly the launch of innovative products like Group Family Term Takaful and Group Health Takaful, further catered to the unique needs of corporate customers. With a robust expansion plan for 2024, the SLIC’s Tayab Takaful portfolio is set to reach new heights and break barriers.

Shoaib Javed Hussain, CEO of SLIC, stated, “This strategic move reflects our commitment to innovation and customer-centricity, as we aim to provide insurance solutions that resonate with the diverse needs of our policyholders.”

SLIC Window Takaful Operations has partnered with Bank Alfalah Islamic and Faysal Bank for the distribution of Takaful products, a move hailed by industry analysts as a testament to State Life’s resilience and adaptability.

Tariq Saeed Chaudhry, Chief Takaful Officer at SLIC’s Tayyab Takaful remarked, “Our

commitment remains unwavering towards enhancing our Shariah Compliant offerings and delivering exceptional value to our customers

In 2021, SLIC ventured into Window Takaful Operations, after obtaining a licence from the Securities and Exchange Commission of Pakistan, marking the inception of SLIC Window Takaful Operations, Tayyab. Looking ahead, State Life Window Takaful aims to expand its portfolio, focusing on Individual Family Takaful, Banca Takaful, Group Health Takaful, and Group Family Term Takaful Products.

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