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Peru Information Technology Q1 2019

Peru Information Technology Q1 2019

Key View:

Given the size of the country's population and the low level of insurance coverage at present, Pakistan's insuranceindustry offers considerable long-term potential. At present, coverage levels are lower than those of neighbouring markets such asIndia, with penetration in the life and non-life sectors currently 0.6% and 0.3% respectively. Rising income levels and an expandingmiddle class offer optimism that household insurance usage will tick upwards over the next few years. Motor insurance coverage willalso be further boosted by government efforts to crack down on compulsory third-party insurance evasion. Despite these positivegrowth drivers, Pakistan will remain a challenging market for overseas operators and investors. For one thing, much of the market isdominated by state-owned carriers, while high levels of competition, in the motor vehicle segment, for example, will; continue torestrict premium growth rates over the years ahead.

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