Pakistan’s First Provincial Life Insurance Company Is Hiring Senior Actuarial Professionals
Punjab Life Insurance Company Limited has announced two senior-level actuarial positions for May 2026, inviting highly qualified professionals to join one of Pakistan’s most unique government-owned financial institutions. PLIC is Pakistan’s first and only provincial government-owned life insurance company operating under the Government of Punjab, making this an extraordinary career opportunity that sits at the intersection of public sector stability and private sector financial expertise.
Two positions are available — Lead Actuarial Life and Lead Actuarial Health — both based in Lahore and reporting directly to the Chief Actuary. These are Senior Manager or Manager grade roles offering market-based competitive salaries. Candidates with a minimum of 5 years of actuarial experience in life or health insurance, strong knowledge of SECP regulations, IFRS 17, Takaful frameworks, and advanced actuarial modeling skills are specifically invited to apply. Both male and female candidates including minorities, persons with disabilities, and transgender individuals are equally encouraged to apply. Applications must be submitted within 15 days of advertisement publication via email or courier.
Complete Job Overview at a Glance
| Detail | Information |
|---|---|
| Organization | Punjab Life Insurance Company Limited — PLIC |
| Ownership | Government of Punjab — First Provincial Life Insurance Company |
| Job Location | Lahore, Punjab |
| Job Type | Government-Owned Company — Senior Professional Roles |
| Available Positions | Lead Actuarial Life and Lead Actuarial Health |
| Grade | Senior Manager or Manager |
| Number of Posts | 01 Each — Total 02 |
| Reporting To | Chief Actuary |
| Education Required | Bachelor’s Degree in Finance, Mathematics, Actuarial Science, Statistics, or Economics |
| Actuarial Progress | Progress in Actuarial Exams from Recognized Body Preferred |
| Experience Required | Minimum 5 Years Relevant Actuarial Experience |
| Pakistan Sector Preference | Candidates with Pakistan Insurance Market Experience Preferred |
| Maximum Age | 50 Years as of Closing Date |
| Salary | Market-Based Competitive Remuneration |
| Application Method | Email and Courier Both Accepted |
| Equal Opportunity | Females, Minorities, PWDs, and Transgender Individuals Encouraged |
| Last Date to Apply | Within 15 Days of Advertisement Publication |
| TA and DA | Not Admissible |
About Punjab Life Insurance Company Limited
Punjab Life Insurance Company Limited is a landmark institution in Pakistan’s financial services landscape. As the country’s first provincial government-owned life insurance company, PLIC was established under the Government of Punjab with a mandate to provide affordable, accessible, and reliable life and health insurance products to the citizens of Punjab and beyond.
PLIC operates at a unique position in Pakistan’s insurance market. It carries the financial backing and institutional credibility of the Government of Punjab while functioning with the operational agility and market focus of a professional insurance company. This combination makes it one of the most stable and strategically important insurance entities in the country.
The company offers a comprehensive range of life insurance products including individual life plans, group life schemes, pension products, and health insurance solutions for both individual and corporate clients. PLIC’s actuarial function sits at the very core of its operations, responsible for product pricing, reserving, regulatory compliance, reinsurance management, and portfolio analytics that drive every major financial and product decision the company makes.
By hiring Lead Actuarial professionals for both its Life and Health business lines, PLIC is signaling its commitment to strengthening its technical actuarial capability as it continues to grow its product portfolio and expand its market presence across Pakistan. These are not supporting roles. They are leadership positions within the actuarial function that will directly shape how PLIC manages risk, prices products, and reports to regulators.
Working at PLIC means contributing to an institution that is genuinely pioneering — the first of its kind in provincial government-backed insurance in Pakistan. For actuarial professionals seeking a career that combines technical depth, public sector security, and real institutional impact, this is a rare and exceptional opportunity.
Both Vacant Positions — Complete Requirements Table
| Detail | Lead Actuarial Life | Lead Actuarial Health |
|---|---|---|
| Grade | Senior Manager or Manager | Senior Manager or Manager |
| Posts | 01 | 01 |
| Location | Lahore | Lahore |
| Reporting To | Chief Actuary | Chief Actuary |
| Maximum Age | 50 Years | 50 Years |
| Education | Bachelor’s in Finance, Mathematics, Actuarial Science, Statistics, or Economics | Bachelor’s in Finance, Mathematics, Actuarial Science, Statistics, or Economics |
| Actuarial Exams | Progress from Recognized Actuarial Body Preferred | Progress from Recognized Actuarial Body Preferred |
| Experience | Minimum 5 Years in Life Insurance | Minimum 5 Years in Health Insurance |
| Pakistan Preference | Pakistan Insurance Sector Experience Preferred | Pakistan Insurance Market Experience Preferred |
| Key Skills | SECP Regulations, IFRS 17, Takaful, Advanced Excel, Actuarial Modeling | SECP Regulations, IFRS 17, Takaful, Advanced Excel, Actuarial Modeling |
| Job Purpose | Actuarial Support and Oversight for Life Insurance Business | Actuarial Functions and Support for Health Insurance Business |
| Salary | Market-Based Competitive | Market-Based Competitive |
Key Responsibilities of Each Role
Both Lead Actuarial positions carry substantial and strategically important responsibilities that touch every critical function of PLIC’s insurance operations. Understanding the full scope of each role is essential before applying.
The Lead Actuarial Life professional will be responsible for pricing life insurance and pension products across individual and group business lines. This includes conducting premium rate analysis, profitability assessments, and regulatory product filings. The role also covers benefit design and actuarial input for all new product development initiatives. On the reserving and reporting side this professional will manage reserve calculations, actuarial valuations, portfolio performance studies, and management dashboards that inform senior leadership decisions.
Reinsurance management is a critical component of this role requiring the selected professional to monitor claims experience and profitability trends, manage reinsurance matters and treaty reviews, and provide underwriting support including cover limits and risk assessments for large cases. Claims and portfolio analytics responsibilities include analyzing claims data and pricing trends, monitoring high-cost cases and adverse experience, identifying risk indicators and cost drivers, and implementing data-driven controls in coordination with internal and external stakeholders.
The Lead Actuarial Health professional carries a parallel set of responsibilities focused specifically on health insurance products. Product development and pricing work covers individual and group health insurance products including profitability assessments, premium analysis, regulatory filings, and benefit design. Reserving responsibilities include actuarial valuations, reserve calculations, and portfolio reporting for management.
The health role additionally requires reviewing reinsurance treaty terms, analyzing persistency trends and claims experience, and supporting underwriting decisions and risk evaluations across the health portfolio. Claims analytics work involves identifying adverse trends and risk leakage indicators, analyzing claims patterns and pricing structures, and coordinating with internal teams and external reinsurance partners to maintain portfolio profitability.
How to Apply — Step by Step
- Prepare a complete and updated CV that accurately reflects your actuarial qualifications, exam progress, and professional experience in life or health insurance
- Collect attested copies of all academic certificates including your Bachelor’s degree and any actuarial exam certificates or progress documentation
- Gather professional experience letters from all previous employers clearly showing your actuarial responsibilities and the duration of each role
- Obtain a clear copy of your CNIC and domicile certificate
- Attach two recent passport-size photographs with your application package
- Write the title of the position you are applying for clearly on the envelope if sending by courier and in the subject line if sending by email
- Send your complete application package via email or courier within 15 days of the advertisement publication date
- Only shortlisted candidates will be contacted for interview and no TA or DA will be provided
Send Application By Courier To: Punjab Life Insurance Company Limited 1st Floor, Pakistan Engineering Congress Building 97-A, Block D1, Liberty Market, Gulberg III, Lahore
Frequently Asked Questions
Q1. Can I apply for both Lead Actuarial Life and Lead Actuarial Health positions at the same time?
Yes you can apply for both positions simultaneously if your experience and qualifications genuinely align with the requirements of each role. However each application must be submitted separately with a distinct covering letter and CV tailored to the specific position. If applying by email send two separate emails each with the correct position title clearly mentioned in the subject line. If applying by courier use two separate envelopes each labeled with the specific post name. Combining both applications into a single submission may cause confusion and could affect your consideration for either role.
Q2. I have actuarial exam progress but have not yet completed all fellowship exams. Am I still eligible to apply?
Yes. The advertisement states that progress in actuarial exams from a recognized actuarial body will be preferred rather than full fellowship being a mandatory requirement. This means candidates who are at various stages of completing their actuarial qualification are eligible to apply. What matters most is that you meet the minimum 5 years of relevant actuarial experience requirement in life or health insurance respectively and that you possess the required technical skills including SECP regulations knowledge, IFRS 17 familiarity, Takaful understanding, and advanced Excel and actuarial modeling expertise. Your exam progress will be viewed as an additional advantage during the selection process.
Q3. The advertisement mentions market-based competitive remuneration. Can I negotiate the salary offer?
Punjab Life Insurance Company Limited has described the salary for both positions as market-based and competitive, which indicates that the company intends to offer remuneration that reflects current actuarial market rates in Pakistan’s insurance sector rather than a fixed government pay scale. This typically means the final salary will be discussed and confirmed during the interview or offer stage based on your experience level, actuarial qualifications, and the specific expectations you bring to the role. Candidates are advised to research current market rates for Senior Manager and Manager grade actuarial roles in Pakistan’s life and health insurance sector before attending their interview so they can engage in an informed salary discussion.
Final Word — A Rare Senior Actuarial Opportunity at Punjab’s Premier Insurance Institution
Opportunities to lead actuarial functions at a government-owned insurance company do not appear often. Punjab Life Insurance Company Jobs May 2026 offer actuarial professionals in Pakistan a genuinely rare combination of institutional prestige, technical challenge, market-competitive salary, and the satisfaction of contributing to a pioneering public sector financial institution.
Whether your expertise lies in life insurance product pricing, health insurance portfolio analytics, IFRS 17 implementation, or reinsurance management, PLIC has built these two roles around exactly the skills you have spent your career developing.
Prepare your application today and send it within the 15-day window before this opportunity closes.
- Apply By Email or Courier
- Address: 1st Floor, Pakistan Engineering Congress Building, 97-A Block D1, Liberty Market, Gulberg III, Lahore
- Positions: Lead Actuarial Life and Lead Actuarial Health
- Grade: Senior Manager or Manager
- Last Date: Within 15 Days