State Life Insurance Corporation of Pakistan (SLIC), the country’s largest and most trusted life and health insurer, has entered into a strategic partnership with JS Bank, one of Pakistan’s fastest growing financial institutions. The collaboration is aimed at expanding access to insurance services through a comprehensive bancassurance model that will leverage JS Bank’s widespread branch network.
This initiative marks a significant step forward in enhancing financial inclusion by combining the strengths of a major public sector insurer with the efficiency and customer reach of a dynamic private bank. The partnership is expected to increase the availability of life and health insurance solutions to individuals and families throughout Pakistan, particularly those who may not have had easy access to such services in the past.
Under this arrangement, JS Bank customers will be able to conveniently access a broad portfolio of SLIC insurance products directly through the Bank’s branches. This integration of banking and insurance services will allow customers to address their financial planning and protection needs under one roof, fostering ease of use and improved financial awareness.
At the official signing ceremony, held at JS Bank’s Head Office in Karachi, Shahid Iqbal Baloch, Executive Director at State Life, spoke about the significance of the collaboration. He said that the partnership brings together two of Pakistan’s leading institutions with a shared vision of expanding financial protection to all segments of society. He emphasized that this initiative is an important step in supporting Pakistan’s economic resilience by promoting security and long-term financial planning.
Atif Malik, Chief Operating Officer at JS Bank, also expressed his views on the collaboration. He highlighted the Bank’s commitment to enhancing financial wellbeing for its customers. According to Malik, financial protection is an integral component of overall financial health, and by partnering with State Life, JS Bank is taking another step toward making comprehensive financial solutions more accessible to communities across the country.
The partnership reflects a mutual commitment by both organizations to integrate financial services in a way that promotes convenience, security, and sustainability. With State Life’s decades-long legacy, trusted reputation, and deep expertise in the insurance sector, and JS Bank’s robust digital and physical infrastructure, the collaboration is positioned to offer customers a seamless experience.
This joint effort also aligns with the national agenda of improving financial literacy and access to formal financial services. As Pakistan continues to transition into a more digitally connected and financially aware society, such partnerships play a crucial role in ensuring that essential services like insurance are not limited to the urban elite but reach all socio-economic segments, including underserved and rural populations.
By bringing together the public and private sectors in a powerful alliance, State Life and JS Bank demonstrate the potential of institutional cooperation in advancing financial inclusion. The integration of insurance into mainstream banking channels not only simplifies the customer experience but also strengthens the broader financial ecosystem.
As both organizations continue to evolve and expand their offerings, this partnership is expected to be a model for future collaborations that prioritize access, empowerment, and long-term financial stability for all Pakistanis.
