Punjab govt's first life insurance company established, license issued

LAHORE, (UrduPoint / Pakistan Point News - 26th Mar, 2026) The Punjab government’s first life insurance company has been established as the Securities and Exchange Commission of Pakistan (SECP) on Thursday issued license to Punjab’s Insurance Company.

The business plan of Punjab Insurance Company has been submitted to the SECP.

According to SECP, Punjab Insurance Company will provide insurance to low-income people, insurance coverage will be given to farmers, laborers and small business people. The Company will manage the province’s social health insurance program, and introduce a subsidized insurance premium scheme for low-income people in the province. Punjab Insurance Company will introduce an easy digital insurance product.

Pension and annuity products will also be introduced in Punjab, the number of life insurance companies in Pakistan has reached 13.

The company can play a role in increasing insurance coverage in the country.