Reinsurance Services for Individual and Group Life Insurance with Supplementary Riders

State Life Insurance Corporation of Pakistan (SLIC), based in Karachi, Sindh, is procuring reinsurance services for its Individual and Group Life Insurance portfolios including supplementary riders. This procurement covers conventional life insurance products such as endowment plans, whole life, universal life, and term insurance, as well as group term insurance and group endowment schemes. The scope includes reinsurance for various riders like Accidental Death Benefit, Family Income Benefit, Term Insurance Rider, and others. The contract will be for three years with renewal options and requires the reinsurer to cover all underwritten policies until their natural expiration. Bidders must have an international rating of at least A, 15 years of experience, and meet financial and regulatory criteria including FBR/ATL registration. The technical bid requires submission of detailed company information, experience proofs, and compliance with forms A to F. Financial bids will be evaluated only for technically qualified bidders. The submission deadline is 10th August 2026 at 11:00 AM PST, with bids to be submitted electronically via the EPADS system. The technical bid opening will be held at the Central Procurement Division, State Life Building No.09, Dr. Ziauddin Ahmed Road, Karachi. A pre-bid meeting is scheduled for 28th July 2026 at 11:00 AM PST, with virtual attendance options available. Earnest Money is replaced by a Proposal Securing Declaration. Bidders are advised to carefully prepare their technical proposals to meet the minimum qualifying marks of 70 to be considered for financial evaluation. It is recommended to ensure all required forms and supporting documents are complete and properly uploaded to avoid disqualification. This tender offers a significant opportunity for reinsurers with strong financial standing and technical expertise to partner with Pakistan's leading life insurer. The contract terms include annual profit commission settlements and require compliance with SLIC's underwriting guidelines and claims handling procedures.