CM approves insurance reforms, orders comprehensive health policy

Under the leadership of Chief Minister Maryam Nawaz Sharif, Punjab has become the first province in the country to introduce a General Insurance Company as part of major financial and social protection reforms aimed at expanding coverage for citizens across multiple sectors

LAHORE, (APP - UrduPoint / Pakistan Point News - 6th May, 2026) Under the leadership of Chief Minister Maryam Nawaz Sharif, Punjab has become the first province in the country to introduce a General Insurance Company as part of major financial and social protection reforms aimed at expanding coverage for citizens across multiple sectors.

The development was shared during a meeting chaired by the chief minister, where she directed the Punjab General Insurance Company to present a comprehensive health insurance policy plan. A summary for the establishment of the company has also been forwarded to the provincial cabinet for approval.

The CM instructed that the private sector be included in the insurance framework and directed that necessary infrastructure and resources be ensured for effective implementation. She appreciated the business plan and the swift approval process of the initiative.

Officials briefed the meeting that the Punjab Life Insurance Company is being developed to manage the Chief Minister’s health initiatives and the Sehat Sahulat Programme. A special committee has been constituted to oversee the Punjab General Insurance Company, which will manage non-life insurance of government institutions under the supervision of the Finance Department.

It was further informed that the Punjab Life Insurance Company will introduce specialised insurance products for various segments including breadwinners, women, transgender persons, farmers, students and overseas Pakistanis. The company will also offer coverage for natural disasters, pension products, health insurance for underprivileged segments and Shariah-compliant Takaful services.

The meeting was told that the Punjab Life Insurance Company has achieved the fastest registration in the country’s history with the Securities and Exchange Commission of Pakistan (SECP) and has commenced operations after hiring 17 professional experts. The CEO of the Punjab Life Insurance Company will also serve as CEO of the Punjab General Insurance Company.

A detailed briefing was also given on both insurance entities, while it was decided to form a board comprising the Chairman P&D, Secretary Finance and President Bank of Punjab.

The CM directed that Punjab has always led reforms and must continue to align with global trends in the insurance sector, ensuring citizens have access to quality healthcare and financial protection services of their choice.