Description / Scope of Work
State Life Insurance Corporation of Pakistan invites tenders for the hiring of reinsurance services for its Gulf business operations. The scope of this tender encompasses the provision of comprehensive reinsurance arrangements to support SLIC's life insurance portfolio written in the United Arab Emirates, specifically covering classes of business underwritten in UAE markets. The reinsurance services are essential for managing risk exposure and ensuring adequate coverage for the corporation's overseas life fund operations in the Gulf region. Bidders must demonstrate their technical expertise, financial stability, and capacity to provide professional reinsurance support for life insurance business in international markets.
Eligibility criteria require that bidding companies possess valid reinsurance licenses, demonstrate appropriate regulatory compliance, and maintain the required financial rating and solvency standards. Interested parties must provide proof of their reinsurance underwriting experience, particularly in life insurance segments, along with evidence of their operational capability in Gulf markets. Companies must also furnish non-disclosure agreements and integrity pacts as specified in the tender documents, ensuring ethical business practices and confidentiality of all sensitive information exchanged during negotiations.
Bid documents are available from State Life Insurance Corporation and must be submitted in sealed envelopes containing both technical and financial proposals. The technical proposal should address FORM-A with company information and FORM-B covering detailed evaluation criteria including reinsurance experience, claims handling capability, and service delivery mechanisms. Proposals must be received before the specified closing date of 10 August 2026, with bid opening to follow thereafter. Prospective bidders should contact the corporation directly for detailed submission instructions, bid security requirements, and clarification on reinsurance arrangement terms and conditions governing the engagement period.