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The National Insurance Academy (NIA Pune also known as NIA) is a educational institution located in Pune, India.NIA was founded in 1980 by the Finance Department of the Indian government with patronage from LIC and the public insurance industry.
Insurance in Pakistan is regulated under the Insurance Ordinance, 2000. It is divided into three components: life insurance, general insurance and health insurance.The Government of Pakistan established the Department of Insurance in April 1948 as a department of the Ministry of Commerce; the aim of this department is to take care of affairs related to the insurance industry.
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
The State Life Insurance Corporation of Pakistan (SLIC) (Urdu: اسٹیٹ لائف انشورنس), commonly known as State Life, is a Pakistani state-owned life insurance company based in Karachi. [2] [3] The State Life is headed by a chairman, currently Shoaib Javed Hussain. The chairman is assisted by four directors.
Life insurance is one of the growing sectors in India since 2000 as Government allowed Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to 49%. In 1955, mean risk per policy of Indian and foreign life insurers amounted respectively to ₹2,950 & ₹7,859 [ 1 ] (worth ₹15 lakh & ₹41 lakh in 2017 prices).
EFU Insurance, originally Eastern Federal Union Insurance Company Limited, is a Pakistan based insurance company. It was the first insurance company in India founded in 1932, owned by the Muslims based in Calcutta. After the partition of India, the company moved to Pakistan and operated in East Pakistan and West Pakistan.
Kotak Mahindra Life Insurance Company Limited is a privately held life insurance company based in India. [2] [3] [4] It was established in 2001 and currently serves 46 million customers in 148 cities and towns across India. [5] [6] The company provides protection, retirement, savings, investment, and annuity plans. [7]
Lahore University of Management Sciences (LUMS) (Urdu: لاہور یونیورسٹی آف مینجمنٹ سائنسز) is a private research university in Lahore, Punjab, Pakistan. [ 2 ] [ 3 ] In 1984, Syed Babar Ali recognized the shortage of qualified managers in the country.