Re-Takaful Services for Individual and Group Life Family Takaful by State Life Insurance Corporation Karachi

State Life Insurance Corporation of Pakistan (SLIC), based in Karachi, Sindh, is procuring re-takaful services for its Individual Life Family Takaful and Group Life Family Takaful products including supplementary riders and Group Life Annuity. This procurement is aimed at renewing the re-takaful arrangements for a contract period of three years, with the possibility of renewal on mutual agreement. The scope covers a wide range of life takaful products such as Takaful Savings, Child Education, Endowment plans, and Group Life Annuity, along with supplementary riders like Accidental Death Benefit, Family Income Benefit, and Term Takaful Rider. The technical scope requires bidders to provide comprehensive re-takaful coverage for all underwritten policies, including risk assessment, underwriting guidelines, and claims handling procedures. The contract mandates guaranteed re-takaful contribution rates for the membership term and obligates the reinsurer to cover policies beyond the contract period until natural expiration. Bidders must demonstrate strong international ratings, financial stability with annual net income of at least USD 250 million for 2025, and a minimum of seven years' experience in re-takaful services. The evaluation includes technical and financial bids, with a minimum qualifying technical score of 70 marks. Key dates include the submission deadline on 10-08-2026 at 11:00 AM PST, with technical bids opening on the same day. A pre-bid meeting is scheduled for 28-07-2026 at 11:00 AM at the Central Procurement Division, State Life Building No.09, Karachi, with virtual attendance options. Bidders must submit proposals via the EPADS system in separate PDFs for technical and financial proposals, including a Proposal Securing Declaration. Contact for inquiries is available at +92-21-99204521 and dhcpd@statelife.com.pk. A practical tip for bidders is to ensure full compliance with the detailed eligibility criteria and submission requirements, including all forms and supporting documents, to avoid disqualification. Leveraging digital solutions such as AI and data analytics in underwriting and claims management may provide a competitive advantage. Bidders should also carefully review the mandatory conditions and general contract terms to align their proposals accordingly.