Tender Details
Description / Scope of Work
State Life Insurance Corporation of Pakistan invites technical and financial bids for an On Premises or Software as a Service (SaaS) solution to implement an IFRS-17 Calculation Engine for its IT Division. This tender, issued under PPRA Rules through the Corporation's UAE Branch located in Dubai, seeks a comprehensive software platform capable of handling complex insurance accounting calculations in compliance with International Financial Reporting Standard 17. The procurement covers both system implementation and ongoing support services, with tender details and documentation available on the PPRA website at www.ppra.org.pk and the State Life website at www.statelife.com.pk.
Intended bidders must be well-established firms registered with UAE licensing authorities and the UAE Tax Authority, with a physical office presence and telephone contact in the Emirates. Bidders should demonstrate substantial experience in IFRS-17 implementations for insurance entities, supported by client references and relevant project portfolios. The bid process follows a Single Stage – Two envelope procedure with separate technical and financial evaluation.
Filled tender documents must be submitted physically by 12 August 2026 at 11:00 am UAE time at the Corporation's Dubai office: 701 Sheikha Mohra Building, Salah uddin Road, P.O. Box 11278, Deira, Dubai. Technical bids will be opened at 11:30 am on the same date. Prospective bidders should contact the Zonal Chief Gulf, Anjum Rashid, via telephone at +971-56-5972866 or +971-4-2729061 extensions 201 or 105 for clarifications or to arrange a pre-bid meeting.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
State Life is seeking an IFRS-17 calculation engine—a specialized, technically demanding software deployment for insurance regulatory compliance. The closing date is August 2026, offering moderate preparation time. Bidders must hold current UAE business registration and demonstrate proven IFRS-17 experience with insurance clients via documented references. This is a likely long-term engagement combining software licensing or SaaS subscription with implementation and support, suggesting medium to large contract value. The two-envelope process indicates rigorous technical evaluation before cost consideration.
Who can bid: Bidders must be registered with UAE licensing authorities and the UAE Tax Authority, with an established office and telephone in the Emirates. Typically for software and IT services in Pakistan's public procurement, vendors should hold NTN (National Tax Number), be registered with relevant chamber of commerce, and provide evidence of technical capability and financial stability. Evidence of prior IFRS-17 project delivery is explicitly required.