In a significant move aimed at sustaining the growth momentum in Pakistan’s insurance sector, the Federal Cabinet has officially reappointed Shoaib Javed Hussain as the Chief Executive Officer of State Life Insurance Corporation of Pakistan (SLIC) for another three-year term, effective August 6, 2025. The decision comes on the recommendation of the Ministry of Commerce, following an impressive four-year performance under Hussain’s leadership.
Since taking the helm of SLIC in March 2021, Mr. Hussain has overseen a transformative phase marked by record-breaking growth and modernization. Under his stewardship, the public sector insurance giant has achieved a +300% surge in profit, a +181% increase in revenue, and a +100% growth in profit allocated to policyholders—metrics that underscore the effectiveness of a tech-forward and customer-centric strategy.
Key drivers of this success include a bold digital transformation agenda, the introduction of innovative insurance products tailored to a diverse customer base, and consistent improvements in service delivery across the board. These strategic shifts have allowed SLIC to grow its market share and reinforce its leadership position in Pakistan’s insurance landscape.
Mr. Shoaib Javed Hussain, a distinguished actuary by profession, brings a wealth of international experience to his role. He holds a Master of Science in Actuarial Management from Bayes Business School, City University London, and is a Fellow of the Institute of Actuaries (UK). Over the past two decades, his career has spanned senior roles at major global institutions including AIA Group, Milliman, Prudential, EY, and HSBC across Europe, North America, and Asia.
Beyond his CEO role at SLIC, Mr. Hussain is also a central figure in the broader insurance ecosystem in Pakistan. He currently serves as the Chairman of the Insurance Association of Pakistan and holds board positions at several prominent organizations such as Sui Southern Gas Company, Pakistan Cables Limited, and Fauji Fertilizer Company.
Established in 1972, the State Life Insurance Corporation of Pakistan stands as a cornerstone of financial stability in the country. As Pakistan’s largest public sector life and health insurer, SLIC has maintained a consistent AAA rating, reinforcing public confidence and regulatory credibility. With millions of Pakistanis relying on its services, SLIC plays a pivotal role in advancing the government’s broader agenda of financial inclusion, social protection, and economic stability.
Backed by the Government of Pakistan, SLIC has evolved from a traditional insurer into a progressive institution, blending legacy values with modern technologies to reach underserved communities and promote inclusive insurance coverage.
With Shoaib Javed Hussain’s term extended, stakeholders expect SLIC to further elevate its digital initiatives, expand product portfolios, and strengthen operational resilience—ensuring that the next three years build upon the robust foundation already laid.