The federal government has approved the appointment of Sulaiman S. Mehdi as Chairman Board of Directors of State Life Insurance Corporation of Pakistan (SLIC), the Ministry of Commerce said in a notification dated August 17, 2023.
Present Chairman Shoaib Javed Hussain will continue as Chief Executive Officer of SLIC after Chairman BoD’s appointment is made official.
“In continuation of this Ministry’s earlier Notification of even number dated 08-06-2023 and in exercise of powers conferred under Section 15 of State-Owned Enterprises (Governance and Operations) Act, 2023, the Federal Government, vide decision in Case No. 122/25/2023, dated 09.08.2023 is pleased to approve the nomination of Mr. Sulaiman S. Mehdi to be appointed as Chairman, BoD of State Life Insurance Corporation of Pakistan (SLIC) and the present Chairman, namely Mr. Shoaib Javed Hussain to continue as Chief Executive Officer of State Life Insurance Corporation of Pakistan (SLIC),” the notification read.
Sulaiman has over 13 years experience of working with leading Financial Services Groups in senior positions in the area of operations, investments, marketing, legal and corporate affairs.
He started his career with Pakistan Industrial Credit and Investment Corporation Limited (PICIC-DFI) in July 2001 as a Management Trainee (OG-II) and was there till June 30, 2004, in the capacity of Manager of Corporate Affairs.
He served as the chairman of the Pakistan Stock Exchange from July 2018 to April 2021.
Sulaiman has also served as the COO and CS of Pakistan Industrial Credit and Investment Corporation (PICIC) Asset Management Company Ltd and was primarily responsible for the formation of PICIC AMC.
Amongst Sulaiman’s nascent achievements is the $60 million acquisition of Hub Power Company Limited (HUBC) by Dawood Hercules Group which was championed from Cyan’s platform on June 13, 2012.
Since its inception, SLIC has played its part in Pakistan’s insurance industry. With a focus on bolstering the industry’s contribution to the nation’s GDP, the company aims to play a pivotal role in fortifying the economy’s backbone through the strategic alignment of technology, data, and a human-centric approach.
Never ever get insurance from estate life. It’s my advice to people who don’t want to ruins their hard earned. Their representatives lied and their process is extremely difficult and hard when it comes to surrender the policy. Better invest in national savings.