EXPRESSION OF INTEREST GROUP LIFE INSURANCE FOR EMPLOYEES – NUST

Tender

1. National University of Sciences and Technology was established for promotion of higher scientific education in the country especially in the field of Sciences and Technology, by providing a stable and disciplined academic environment together with need based research, pertinent to industrial requirements.
2. Over the years the university has expended in scope services and structure and has emerged as a leading comprehensive university in public sector.
3. NUST is seeking for EIO from reputed insurance group life insurance companies for more than 2500 employees for following benefits:-
4. Eligibility Criteria is as under:-
   1. 1. Company must be registered with SECP.
      2. Company must be National Tax Registered.
      3. Having at least 10 years experience of providing insurance services to local/international organizations.
      4. Minimum Life Fund Value should be 75 Billion.
      5. ISO Certified (Preferred)
      6. Must have minimum AA IFSR/PACRA/JCR-VJS (Insurer Financial Strength Rating/The Pakistan Credit Agency Ltd.) or equivalent.
      7. Declaration on stamp paper that the insurance company has never been black listed/ de-listed by any Government Agency, Authority or any other Regulatory Authority.
5. EIO Documents may be purchased by submission of pay order/ bank draft of Rs. 1,000/- (Nonrefundable) in favor of “NUST Islamabad” during working hours (10:00 am to 04:00 pm).
6. Separate envelopes of Technical & Financial Bids, in ONE sealed envelope should reach the under mentioned address latest by 1030 hours on 15 Dec 2020. Technical Bids shall be opened on the same day by 1100 hours in the presence of Local Purchase Committee (LPC) and available representatives of firms.
7. NUST reserves the right to reject any or all bids as per PPRA rules.