LAHORE
Chief Minister Punjab Maryam Nawaz Sharif highlighted while chairing a meeting on the establishment of Punjab General Insurance Company that Punjab has once again exceeded other provinces by becoming first in the country to introduce a general insurance company, a jsummary for which has been sent to the provincial cabinet for seeking approval.
She noted that Punjab Life Insurance Company has also earned an honor of getting the fastest registration from SECP in the history of Pakistan. She said that Punjab Life Insurance Company will provide protection to citizens of every class and income level in Punjab by introducing specialized insurance plans for dependents, family members, women, transgender persons, farmers, students, and overseas Pakistanis.
She added that through natural disaster coverage, pension products, health insurance for the deserving, and Sharia-compliant Takaful, financial protection will be provided to every segment of society. She underscored that recruitment of 17 professional experts for Punjab Life Insurance Company, and its financial backing has been completed; and operations have commenced.
Chief Minister Punjab said that CEO of Punjab Life Insurance Company will also serve as the CEO of Punjab General Insurance Company. Authorities convened gave her a detailed briefing on matters related to Punjab Life Insurance Company and Punjab General Insurance Company.
Chief Minister Punjab formed a special committee for Punjab General Insurance Company; which will be responsible for the non-life insurance of all government institutions under the supervision of Finance Department, besides also including private sector in the insurance plan. She directed the relevant authorities to present a comprehensive health insurance policy plan, and said that a board for Punjab General Insurance Company, comprising Chairman P&D, Secretary Finance, and President of Punjab Bank will be constituted.
Chief Minister Maryam Nawaz Sharif appreciated the business plan of Punjab Life and General Insurance Company and its fastest-ever approval process. She was briefed by the relevant authorities that Punjab Life Insurance Company is moving towards managing Chief Minister Maryam Nawaz Sharif’s health initiatives and health facility program, as it is continuing collaboration with institutions to create schemes for government employees’ workers’ welfare fund, pension fund for pensioners’ insurance coverage, and schemes for citizens.
She said that Punjab was ahead in reforms before, is ahead today, and will, Insha’Allah, always remain ahead. She added that they will bring such a health insurance policy that would allow anyone to get treatment wherever they wish in the world.
She flashed that insurance sector is growing around the world; we must keep pace with the world. She directed all the stakeholders to ensure infrastructure and provision of resources.
