NAME: WALEED ARSHAD (51802)

TIMING: Monday (11:30am to 2:45pm)

COURSE: Fundamental Of Management
FACULTY: SANA ARZ BHUTTO
FINAL REPORT OF MANAGEMENT

Table of Contents

S.N Contents Page

o no.
01 Company Description
02 Organizational Culture

03 Organizational Structure
04 Motivation
05 Leadership
06 Controlling
07 Conclusion

EXECUTIVE SUMMARY
If we want to explain Insurance in a single line so we can
say that “Financial protection against loss or harm”. In
today’s life Insurance has taken place as a need of human
life because no part of our life remains untouched by the
Insurance. Insurance has evolved as a process of
safeguarding the interest of people from loss and
uncertainty. We have completed this report on State Life
Insurance Corporation of Pakistan, State Life Insurance
Corporation of Pakistan (SLIC) has a solid foundation
since 1972 in Pakistan, and main objective is to provide
its customers with safe, secure and trustworthy service
through wide range of products. State Life Insurance
Corporation plays a very important role in everyday lives
of the people and also contributing a lot to the economy
of the country by providing the government a lot of fund.
In this report We have given a very brief review of profile
of State Life Insurance Corporation of Pakistan and have
discussed the procedures and working methods of the
financial department of State Life Insurance Corporation.
We have made it possible to write each and every thing
that I have learnt during the completion of this report

Company
Introuction:
Description
The State Life Insurance Corporation of
Pakistan, commonly known as State Life or SLIC, is the
largest life insurance company of Pakistan. It maintains
an agency network of around 200,000 sales personnel
and is one of the largest companies in Pakistan by assets.
Although the major function of SLIC is to carry out life
insurance business, it is also involved in other business
activities such as investment of policyholders’ fund in
government securities, stock market and real estate.
History:The life insurance business in Pakistan was
nationalized in March 1975. Prior to 1972, 36 life
insurance companies were involved in the life insurance
business. These companies were later merged and placed
under three Beema Units; named "A", "B" and "C". Later,
these Beema Units were merged on November 1, 1972
and State Life Insurance Corporation of Pakistan came
into existence. State Life Insurance Corporation of
Pakistan is headed by a Chairman and assisted by the
Executive Directors appointed by Federal Government.
Up to July 2000 the Corporation was run by Board of
Directors constituted under Life Insurance
(Nationalization) Order 1972. In July 2000, under
Insurance Ordinance 2000, the Federal Government
reconstituted the Board of Directors of State Life which
runs the affair of this Corporation.
Chairman: The State Life is headed by a Chairman,
currently Shoaib Mir Memon. The Chairman is assisted by
four directors. The Chairman and directors of State Life
are all appointed by the Government of Pakistan.
Policies, Rules & Regulations:State Life Insurance
Run under the Ministry Of commerce also that follow the
rules regulation under that ministry as well as state life
insurance has their own board of directors that make the
policies, rules of the organization . MINISTRY OF
COMMERCE has installed the rules and policies that are
permanent for the organization and they are unable to
change (b) BOARD OF DIRECTORS Make the new rules
policies and regulation in to organization these can be
change , as changing the top management of the
organization so they change the rules and their policies
Busieness Partners:
• Unite Bank Limited-UBL
• First Woman Bank Limited
• Bank Alfalah Limited
• NIB Bank
• National Bank of Pakistan-NBP
• Silk Bank Limited
• Samba Bank Limited
• Summit Bank Limited
Subsidiaries:
State Life has the following subsidiaries:
• Alpha Insurance Company Limited
• State Life Properties Private Limited
• State life Properties Private Limited
• State Assets Management Company Limited
(SAMCO)
Services:
State Life Insurance Sale Only Life Insurance Policies
• Individual Life
• Group Life Courage
• Takafull
• Health Insurance

Planning
Vision:
Our vision to provide in insurance services to far
rural areas of Pakistan. To those who cannot afford to
secure the future of their childerns.

Mission:
To remain the leading insurer in the country by
extending the benefits of insurance to all sections of
society and meeting our commitments to our policy
holders and the nation.
Quality Policy:
To ensure satisfaction of our valued
policyholders in processing new business, providing after
sales service and optimizing return on Life Fund through
a quality culture and to maintain ourselves leading life
insurer in Pakistan.
Goals:
Strategic goals:
Following are the main strategic goals of our organization
• To run life insurance business on sound line.
• To provide more efficient service to the
policyholders.
• To maximize the return to the policyholders by
economizing on expenses and increasing the yield on
investment.
• To make life insurance a more effective means of
mobilizing national savings.
• To widen the area of operation of life insurance and
making it available to as large a section of the
population as possible, extending it from the
comparatively more affluent sections of society to
the common man in towns and villages.
• To use the policyholders fund in the wider interest of
the community.

Financial Goals:
State Life insurance hold total 55% shares in
insurance market against their rivals their main financial
goal is to remain a leader in the insurance business.
 Organizing
Hierarchy of State Life Insurance: