JOINT PRESS RELEASE DATED 02-07-2022

State Life ties up with National Investment Trust Limited for Strategic Partnership for Financial Inclusion.

Karachi –SLIC & NIT Signed a MoU for Strategic Partnership & Financial Inclusion at State Life Head Office on Friday 1st July 2022.

Mr. Shoaib Javed Hussain The Chairman - State Life Insurance Corporation of Pakistan (SLIC) signed a landmark agreement with Mr. Adnan Afridi (Managing Director)- National Investment Trust limited (NIT) for Financial Inclusion and Insurance Plans for Voluntary Pension System (VPS) account holders, Distribution of NIT Products, Offering Annuity plan for VPS Investors after retirement through NIT across the country. Other participants Included Mr. Muhammad Izqar Khan Executive Director SLIC & Mr. Manzoor Ahmed is Chief Operating Officer (COO) NIT and other senior officials from both organizations were also in attendance on the occasion.

State Life is Pakistan’s largest Life & Health Insurer, which Protects more than 140 Million Pakistanis and only Insurer in Pakistan with AAA rating. From SLIC point of view, this is an important initiative as part of its Chairman’s broader vision of providing every citizen of the country with the benefits of true social and financial protection.

The National Investment Trust Limited (NITL) is the first Asset Management Company of Pakistan, formed in 1962, and had Funds under management of over Rs. 100 billion, more than 90,000 unit holders. NIT's distribution network comprises of 27 Branches, Investor Facilitation Centre at Karachi & various Authorized Bank Branches all over Pakistan.

The partnership between State Life and NIT is another step in State Life’s push towards creating an environment of financial and protection inclusivity in the country, serving Pakistanis across all strata society.

Shoaib Javed Hussain, Chairman - SLIC said that “We are excited to announce SLIC and NIT partnership to provide protection to the Investors of NIT through Financial Inclusion and Protection Plans. I am certain that this collaboration will build on the synergies of these two national organizations into a deep strategic partnership with the aim of ensuring life and financial protection of hardworking Pakistanis; enabling them to further expand their financial horizons with the confidence that they are being protected by SLIC.  SLIC remains firm in its resolve to meet the protection and savings needs of Pakistanis across all strata of society through innovative and value-adding solutions.”

Mr. Adnan Afridi MD NIT said “While the relationship between NIT and SLIC is an old and tested one, this partnership signals the start of a deeper, more strategic collaboration. At NIT we recognize our Investors as the bedrock of our company, and we are constantly thinking of ways to benefit them. Furthermore, NIT will offer innovative, value-added services to SLIC so that the synergies between these two national organizations can be realized for the benefit of Pakistan.