State Life Insurance Corporation of Pakistan (SLICP), the biggest player in
conventional life insurance, intends to enter in the Takaful (Islamic Insurance) business soon, it is reliably
learnt. To capture its share in the potential domestic market, the company is expected to start Islamic
insurance business (Takaful) in next few months.
"The new insurance rules allow the existing conventional insurance companies to start Takaful business", a
senior SLICP official told Business Recorder. "We are ready to enter in the Islamic insurance business and
hopefully the company will start Takaful business in the current year," he added.
The company would be able to offer both insurance options (Islamic and conventional) to its clients. The
SLICP, the largest life insurance company in the country, would provide opportunities to its clients to avail
any option i.e. Islamic or conventional insurance plans, he said.
