Hiring of Reinsurance Services for Individual Life Insurance UAE Business

State Life Insurance Corporation of Pakistan (SLIC) Karachi office is procuring reinsurance services specifically for its Individual Life Insurance business written in the UAE. This procurement covers conventional individual life insurance products and supplementary riders such as Accidental Death Benefit, Family Income Benefit, Term Insurance Rider, and Accidental Indemnity Benefit. The contract is for three years with renewal options and includes reinsurance for policies in AED and USD currencies. The scope involves treaty reinsurance arrangements with retention limits and facultative coverage beyond obligatory limits. Bidders must have an international rating of at least A, 15 years of experience, valid licenses, and meet financial criteria including annual net income of at least USD 1000 million for 2025. The technical bid requires a minimum of 70 marks for qualification. Submission is through the EPADS system with separate technical and financial proposals. The pre-bid meeting is scheduled for 2026-07-28 at 11:00 am at SLIC Karachi office with virtual attendance option. The closing date for bid submission is 10-08-2026 before 11:00 AM PST. Contact details for queries include phone +92-21-99204521 and email dhcpd@statelife.com.pk. A practical tip for bidders is to ensure all forms A to E are fully completed and uploaded correctly on EPADS to avoid disqualification. Earnest Money is replaced by Proposal Securing Declaration submitted via EPADS. This tender offers a significant opportunity for experienced reinsurers to partner with Pakistan's leading insurer with a AAA PACRA rating and a large policyholder base. Bidders should carefully review the detailed technical and financial evaluation criteria and prepare their proposals accordingly to maximize their chances of success.