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  4. > Pakistan Insurance Report Q2 2016

Pakistan Insurance Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 45 pages

Includes 3 FREE quarterly updates

BMI View: Pakistan remains the classic example of a market where insurance is well established amonghouseholds and companies that understand it and that can afford it, but where most people remainuninsured. Solutions are provided overwhelmingly by highly resilient and long-established indigenouscompanies, some of which have the advantage that they are backed by the government. Aside from strongbrands and multi-channel distribution, the leaders have access to the capital that they need. In the non-lifesegment, we anticipate that there will be a substantial consolidation of what remains a fragmentedlandscape. The four largest players, however, will gain market shares. For much of the forecast period,premiums in both segments should expand at low double-digit rates. Growth will come predominantly fromprovision of insurance solutions to existing users.

Key Updates And Forecasts

- We estimate growth in life premiums of 9% in 2016. Nevertheless, the very strong growth in premiumsof the private sector life insurers through the first nine months of 2015 indicates that the risks to ourforecasts are to the upside for both 2015 and 2016. Over the course of the forecast period, we forecastpremiums will rise by about 11% annually. The growth will come overwhelmingly from the provision ofnew products to existing users. Micro-insurance and family takaful should develop rapidly from lowbases, but will not likely be of sufficient size to have an impact on the total premiums written in thesegment prior to 2020.

Table Of Contents

Pakistan Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Pakistan 2013-2020) 5
Insurance 7
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Pakistan 2013-2020) 11
Table: Life Insurance Claims (Pakistan 2008-2015) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Pakistan 2013-2020) 15
Table: Non-Life Insurance Claims (Pakistan 2009-2013) 15
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums By Product Line (Pakistan 2013-2020) 21
Industry Risk Reward Ratings 22
Asia Pacific Industry Risk/Reward Index 22
Table: Asia Pacific Insurance Risk/Reward Index Q216 23
Market Overview 24
Life Market Overview 24
The Product Offering 24
The Competitive Landscape 24
Non-Life Market Overview 26
The Product Offering 26
Competitive Landscape 27
Company Profile 28
Adamjee Group 28
EFU Group 31
Jubilee General/Jubilee Life 34
State Life Insurance Corp of Pakistan (SLIC) 37
Methodology 39
Industry Forecast Methodology 39
Risk/Reward Index Methodology 42
Table: Indicators 44
Table: Weighting of Indicators 45

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