The insurance industry of Pakistan has undergone a sea change in the last couple of years with the advent of digital technology. Recently, the Securities and Exchange Commission of Pakistan marked this as a beginning when four companies started showing the way in selling insurance digitally within the country. Overview of Digital Insurance Providers These … Read more
Securities and Exchange Commission of Pakistan manifests keen interest in the development of inclusive across the length and breadth of the country. It shall aim at widening the circle of different insurance products and services for the unserved and disadvantaged groups of people. Empowering Financial Inclusion New strategic area of focus of the SECP: Financial … Read more
The Securities and Exchange Commission of Pakistan strongly focuses on and gives ample importance to the development of adopting International Financial Reporting Standards in the insurance sector of the country. This move is strategic for ensuring elevated levels of financial reporting in the industry, thus bringing the sector at par with international standards. Importance of … Read more
Finally, in a major strategic development, EFU Life has declared its strategic entry into the health insurance industry with the takeover and Health – Sponsored amalgamation of EFU Health. This is expected to provide a pivotal enhancement in the portfolio of EFU Life and aims at adding value and firming up EFU Life’s footing in … Read more
In 2023, SLIC (State Life Insurance Corporation) marked a significant milestone in its growth trajectory, highlighting the untapped potential within Pakistan’s market Business growth. This development not only underscores the company’s robust performance but also shines a light on new opportunities in the region’s business landscape. Significant Growth Achievements SLIC’s expansion efforts throughout the year … Read more
Pakistan is set to unveil its inaugural centralized auto insurance repository, marking a significant advancement in the country’s insurance sector. This new initiative aims to streamline and modernize the management of auto insurance data, offering enhanced efficiency and transparency. Purpose of the Repository The primary goal of the centralized auto insurance repository is to consolidate … Read more
The government has announced plans to sell its stakes in various insurance companies, marking a significant shift in its approach to managing state-owned assets insurance firms’ stakes. This decision is part of a broader strategy to streamline the public sector and encourage private sector involvement in the insurance industry. Objectives of the Divestment The primary … Read more
This article provides a comprehensive overview of the current state of the life insurance industry in Pakistan, examining its growth, challenges, and future prospects. Market Landscape Industry Growth Life Insurance In recent years, Pakistan’s life insurance industry has witnessed steady growth. Factors such as increasing awareness of financial planning, rising disposable incomes, and a growing … Read more
Pakistan’s insurance industry holds significant untapped potential for growth and development Pakistan’s Insurance Sector. Despite its current underperformance compared to global standards, there are numerous opportunities to expand and enhance the sector, benefiting both consumers and the economy. Market Overview The insurance sector in Pakistan is relatively small and underpenetrated. A limited number of individuals … Read more
The health insurance market of Pakistan is in its phase of slow growth. Considering general market size is small by international standards, there is increased interest and potential for development. Also visit: Unlocking the Potential of Pakistan’s Insurance Sector Growth Projections Insurance Market According to the forecasts by Statista, in the next years, the health … Read more