Tender Details
Description / Scope of Work
State Life Insurance Corporation of Pakistan invites technical and financial bids for consultancy services related to IFRS-17 dry run and preparation of IFRS-17 financial statements for the year 2027. The engagement will be executed through SLIC's UAE branch, based in Dubai, and requires a well-established firm with expertise in actuarial services, accounting, and IFRS-17 implementation. The scope encompasses two main components: conducting an IFRS-17 and IFRS-9 dry run exercise and preparing comprehensive IFRS-17 and IFRS-9 financial statements for 2027. This is a professional services contract under the single-stage, one-envelope bidding procedure as per PPRA Rules.
Intended bidders must be registered with UAE licensing and tax authorities and must maintain their own office with telephone facilities in the UAE. The bid document specifies technical and financial evaluation criteria, with detailed terms and conditions provided in the full tender documentation. A pre-bid meeting will be held to clarify requirements and allow potential bidders to raise questions about the scope and expectations.
Tender documents are available for download from the PPRA website at www.ppra.org.pk and the State Life website at www.statelife.com.pk. Completed bids must be submitted physically by 26 October 2026 at 11:00 am UAE time to the address: SLIC Gulf Branch, 701 Sheikha Mohra Building, Salah uddin Road, P.O. Box 11278, Deira, Dubai, UAE. Bids will be opened the same day at 11:30 am UAE time. Enquiries can be directed to Anjum Rashid, Zonal Chief–Gulf, at 00971-56-5972866 or 00971-4-2729061 ext. 201 or 105.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender, written with AI from the official notice and checked by our quality rules — not part of the official notice. Always confirm details against the original tender document.
State Life seeks a specialized firm to execute IFRS-17 and IFRS-9 dry run exercises and prepare 2027 financial statements for their UAE operations.
This is a high-complexity, regulated engagement requiring actuarial and accounting depth—not a routine compliance task. Scale appears medium-to-large given dual standard implementation for an insurance corporation. Notable: bidder must be UAE-registered with physical Dubai office; execution is offshore despite Pakistani parent. One-off engagement with tight October 2026 deadline. Suited only to firms with prior IFRS-17 insurance experience and UAE licensing.
Who can bid: Bidder must be registered with UAE licensing and tax authorities and maintain a physical office with telephone facilities in Dubai. Pakistani firms typically require SECP registration and valid NTN, but this tender's primary eligibility gate is UAE registration and presence—a significant barrier for domestic SMEs lacking Gulf operations.