The Federal Government has appointed former Senator Saleem Zia as Chairman of the Board of Directors of the State Life Insurance Corporation of Pakistan, marking a strategic leadership transition at the country’s largest state-owned life insurer. The appointment, formally notified by the Ministry of Commerce, places Mr. Zia at the helm of State Life’s governance structure at a time when the insurance sector is navigating modernization demands, regulatory shifts, and a growing emphasis on digital transformation in insurance products and services.
Saleem Zia, who served as a Senator representing Punjab from March 2015 to March 2021 and has longstanding affiliations with the Pakistan Muslim League-Nawaz (PML-N), assumes the position previously held by Suleman Mehdi. His appointment reflects the government’s intent to strengthen board-level supervision and strategic alignment within State Life’s operations, particularly as state-owned enterprises face heightened scrutiny and reform expectations.
In addition to Mr. Zia’s leadership appointment, the government has inducted Khaqan Murtaza and Shehryar Iftikhar Khan as Independent Directors on the Board. Their inclusion broadens the board’s governance capacity and aligns with efforts to reinforce professional oversight, accountability, and compliance in state-owned institutions. Independent directorships are increasingly viewed as essential for improved transparency, operational rigor, and corporate governance maturity in Pakistan’s public enterprise ecosystem.
The appointments derive statutory strength from Section 47 of the Life Insurance Nationalization Order, 1972, as well as Section 15 of the State-Owned Enterprises (Governance and Operations) Act, 2023, read with Para 24(k) of the State-Owned Enterprises (Ownership & Management) Policy, 2023. This legal framework underscores the ongoing push to ensure that senior appointments in national enterprises follow structured governance procedures and conform to modern oversight standards.
State Life Insurance Corporation remains a critical pillar of Pakistan’s financial services sector, serving millions of policyholders and managing insurance portfolios that support long-term national savings, retirement income products, and welfare-driven insurance solutions. Strengthening its board leadership comes at an important juncture as life and health insurance penetration in Pakistan continues to expand, driven by rising consumer awareness, government-supported micro-insurance initiatives, and increasing integration of digital insurance channels.
The Ministry of Commerce has instructed State Life’s Company Secretary to complete all required procedural formalities in line with applicable regulatory provisions, reinforcing adherence to corporate governance protocols. This directive reflects the government’s broader emphasis on institutional compliance, performance measurement, and systematic governance within the state-owned enterprise landscape.
With new board leadership in place, State Life is expected to continue its trajectory toward enhancing service delivery, expanding financial protection products, and adopting technology-enabled operational models that align with modern insurance sector standards. The appointment of Saleem Zia positions the organization to pursue institutional stability and sustained policyholder confidence while further strengthening the governance framework guiding its strategic direction.
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