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Pakistan Insurance Report Q2 2015

Pakistan Insurance Report Q2 2015

BMI View: The Pakistani insurance sector remains one of the more challenging markets we monitor.

Widespread poverty has traditionally limited penetration of insurance coverage to just the highest incomeearners, reducing the opportunities for multi-nationals to enter the market. Meanwhile the proliferation ofsmaller and medium-sized players, particularly in the non-life segment, has further deterred foreigncompanies from entering a congested, low-margin environment. However, recent changes to Pakistan'sinsurance regulatory framework are gradually opening up new areas of the market.

In 2015, new Takaful regulations passed in May 2014 are expected to boost insurance penetration with EFUthe first of several conventional insurance firms expected to begin offering Sharia-compliant products tocustomers. Meanwhile, the growth of the micro-insurance market in 2015 is expected to increasepenetration of insurance coverage among low-income earners. With both Takaful and micro-insurancecurrently focused on the provision of life, rather than non-life products, we expected to see furtherdivergence in the growth paths of the two markets this year. Life insurance premiums are forecast to growby 6.6% in 2015m which is about twice as fast as non-life premiums.


BMI Industry View
SWOT
Insurance
Political
Economic
Operational Risk
Industry Forecast
Total Premiums Forecast
Total Premiums
Table: Total Gross Premiums Written (Pakistan 2012-2019)
Net Premiums and Reinsurance
Table: Total Net Premiums Written (Pakistan 2012-2019)
Table: Total Reinsurance Premiums Written (Pakistan 2012-2019)
Total Claims
Table: Total Insurance Claims (Pakistan 2009-2013)
Total Assets
Table: Total Insurance Assets (Pakistan 2007-2013)
Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Pakistan 2012-2019)
Life Claims
Table: Life Insurance Claims (Pakistan 2007-2013)
Life Insurers' Assets
Table: Assets (Pakistan 2007-2014)
Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Pakistan 2012-2019)
Non-Life Net Premiums
Table: Net Non-Life Premiums Written (Pakistan 2012-2019)
Non Life Reinsurance
Table: Reinsurance Non-Life Premiums Written (Pakistan 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Pakistan 2009-2013)
Non-Life Insurers' Assets
Table: Assets (Pakistan 2007-2014)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Pakistan 2012-2019)
Property Insurance
Table: Property Insurance (Pakistan 2012-2019)
Transport Insurance
Table: Transport Insurance (Pakistan 2012-2019)
Table: Insurance Key Drivers, Freight Tonnage (Pakistan 2012-2019)
Other Insurance
Table: Other Non-Life Insurance (Pakistan 2012-2019)
Table: Insurance Key Drivers, Autos (Pakistan 2012-2019)
Industry Risk Reward Ratings
Asia Pacific Industry Risk/Reward Index Q2 2015
Table: Asia Pacific Insurance Risk/Reward Index - Q2 2015
Market Overview
Life Market Overview
Table: Life Market Share, USDmn, 2007-2013
Table: Life Market Share (%), 2007-2013
Non-Life Market Overview
Table: Non-Life Market Share, USDmn, 2006-2013
Table: Non-Life Market Share (%), 2006-2013
Company Profile
Adamjee Group
EFU Group
Jubilee General/Jubilee Life
National Insurance Co. Limited (NICL)
State Life Insurance Corp. of Pakistan (SLIC)
Demographic Forecast
Table: Population Headline Indicators (Pakistan 1990-2025)
Table: Key Population Ratios (Pakistan 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Pakistan 1990-2025)
Table: Population By Age Group (Pakistan 1990-2025)
Table: Population By Age Group % (Pakistan 1990-2025)
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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