Market Research Logo

Life Insurance in Pakistan, Key Trends and Opportunities to 2019

Life Insurance in Pakistan, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Life Insurance in Pakistan, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Pakistani life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Pakistani economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Pakistan, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Pakistani life insurance segment, including:

  • The Pakistani life insurance segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the life insurance segment
  • A comprehensive overview of the Pakistani economy and demographics
  • The various distribution channels in the Pakistani life insurance segment
  • Details of the competitive landscape in the life insurance segment in Pakistan
  • Details of regulatory policy applicable to the Pakistani insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Pakistan:
  • It provides historical values for the Pakistani life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key categories in the Pakistani life insurance segment, and market forecasts to 2019.
  • It analyzes the various distribution channels for life insurance products in Pakistan.
  • It profiles the top life insurance companies in Pakistan and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Pakistani life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Pakistani life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Pakistani insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Pakistani life segment held the largest share of the insurance industry during the review period.
  • The Pakistani life segment accounted for 64.3% of the industry’s gross written premium in 2014.
  • Individual whole life remained the key category in the segment during the review period, accounting for 58.3% of the total gross written premium in 2014.
  • The Pakistani life insurance segment is highly concentrated, with the three leading companies accounting for 93.6% of the segment’s total gross written premium as of 2014.
  • The life segment recorded a growth in investment income during the review period, primarily due to a strong investment portfolio and a mix of equities and bonds.
  • The penetration of life insurance in Pakistan is lower than other Asian countries such as India and China, at 0.51% of GDP in 2014, compared to India’s 2.63% and China’s 1.81%.


  • Key Facts and Highlights
    • Table Pakistani Life Insurance - Key Facts, 2014
    • Table Pakistani Life Insurance - Segment Shares of the Top Insurers, 2014
  • Executive Summary
  • Economy and Demographics
    • Table Pakistani Government Credit Ratings
  • Life Insurance Outlook
    • Key Drivers
    • Key Trends
    • Challenges
    • Life Insurance Growth Prospects by Category
      • Table Pakistani Life Insurance - Gross Written Premium by Category (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Pakistani Life Insurance - Gross Written Premium by Category (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Pakistani Life Insurance - New Business Direct Written Premium (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - New Business Direct Written Premium (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Net Earned Premium (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Net Earned Premium (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Sum Assured (PKR Trillion), 2010-2014
      • Table Pakistani Life Insurance - Sum Assured (PKR Trillion), 2014-2019
      • Table Pakistani Life Insurance - Paid Claims (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Paid Claims (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Incurred Loss (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Incurred Loss (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Commissions and Expenses (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Commissions and Expenses (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Net Written Premium (% of GWP), 2010-2014
      • Table Pakistani Life Insurance - Net Written Premium (% of GWP), 2014-2019
      • Table Pakistani Life Insurance - Renewal Business Direct Written Premium (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Renewal Business Direct Written Premium (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Total Assets (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Total Assets (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Total Investment Income (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Total Investment Income (PKR Billion), 2014-2019
      • Table Pakistani Life Insurance - Net Written Premium (PKR Billion), 2010-2014
      • Table Pakistani Life Insurance - Net Written Premium (PKR Billion), 2014-2019
    • Individual Life Insurance
      • Table Pakistani Individual Life Insurance - Gross Written Premium by Category (PKR Billion), 2010-2014
      • Table Pakistani Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Pakistani Individual Life Insurance - Gross Written Premium by Category (PKR Billion), 2014-2019
      • Table Pakistani Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Pakistani Individual Life Insurance - Direct Written Premium by Category (PKR Billion), 2010-2014
      • Table Pakistani Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Pakistani Individual Life Insurance - Direct Written Premium by Category (PKR Billion), 2014-2019
      • Table Pakistani Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Individual whole life insurance
        • Table Pakistani Individual Whole Life Insurance - Direct Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Individual Whole Life Insurance - Direct Written Premium (PKR Billion), 2014-2019
      • Individual pension insurance
        • Table Pakistani Individual Pension Insurance - Direct Written Premium (PKR Million), 2010-2014
        • Table Pakistani Individual Pension Insurance - Direct Written Premium (PKR Million), 2014-2019
      • Other individual life insurance
        • Table Pakistani Other Individual Life Insurance - Direct Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Other Individual Life Insurance - Direct Written Premium (PKR Billion), 2014-2019
    • Group Life Insurance
      • Table Pakistani Group Life Insurance - Gross Written Premium by Category (PKR Million), 2010-2014
      • Table Pakistani Group Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Pakistani Group Life Insurance - Gross Written Premium by Category (PKR Million), 2014-2019
      • Table Pakistani Group Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Pakistani Group Life Insurance - Direct Written Premium by Category (PKR Million), 2010-2014
      • Table Pakistani Group Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Pakistani Group Life Insurance - Direct Written Premium by Category (PKR Million), 2014-2019
      • Table Pakistani Group Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Group whole life insurance
        • Table Pakistani Group Whole Life Insurance - Direct Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Group Whole Life Insurance - Direct Written Premium (PKR Billion), 2014-2019
      • Group superannuation insurance
        • Table Pakistani Group Superannuation Insurance - Direct Written Premium (PKR Million), 2010-2014
        • Table Pakistani Group Superannuation Insurance - Direct Written Premium (PKR Million), 2014-2019
      • Other group life insurance
        • Table Pakistani Other Group Life Insurance - Direct Written Premium (PKR Million), 2010-2014
        • Table Pakistani Other Group Life Insurance - Direct Written Premium (PKR Million), 2014-2019
    • Life Insurance Growth Prospects by Product Type
      • Individual single-premium insurance
        • Table Pakistani Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2010-2014
        • Table Pakistani Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2014-2019
        • Table Pakistani Individual Single-Premium Insurance - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Individual Single-Premium Insurance - Gross Written Premium (PKR Billion), 2014-2019
        • Table Pakistani Individual Single-Premium Insurance - Direct Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Individual Single-Premium Insurance - Direct Written Premium (PKR Billion), 2014-2019
      • Individual non-single-premium insurance
        • Table Pakistani Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2010-2014
        • Table Pakistani Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2014-2019
        • Table Pakistani Individual Non-Single-Premium Insurance - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Individual Non-Single-Premium Insurance - Gross Written Premium (PKR Billion), 2014-2019
        • Table Pakistani Individual Non-Single-Premium Insurance - Direct Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Individual Non-Single-Premium Insurance - Direct Written Premium (PKR Billion), 2014-2019
      • Total linked insurance business
        • Table Pakistani Linked Insurance Business - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Linked Insurance Business - Gross Written Premium (PKR Billion), 2014-2019
        • Table Pakistani Linked Insurance Business - Direct Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Linked Insurance Business - Direct Written Premium (PKR Billion), 2014-2019
      • Total non-linked insurance business
        • Table Pakistani Non-Linked Insurance Business - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Non-Linked Insurance Business - Gross Written Premium (PKR Billion), 2014-2019
        • Table Pakistani Non-Linked Insurance Business - Direct Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Non-Linked Insurance Business - Direct Written Premium (PKR Billion), 2014-2019
  • Analysis by Distribution Channel
  • Competitive Landscape and Strategic Insights
    • Overview
    • Leading Companies in the Pakistani Life Insurance Segment
      • Table Pakistani Life Insurance - Segment Shares (%), 2014
      • Jubilee Life Insurance Company Ltd - company overview
        • Table Jubilee Life Insurance Company Ltd - Key Facts
        • Table Jubilee Life Insurance Company Ltd - Key Financials (PKR Billion), 2010-2014
      • East West Life Assurance Company Ltd - company overview
        • Table East West Life Assurance Company Ltd - Key Facts
        • Table East West Life Assurance Company Ltd - Key Financials (PKR Million), 2010-2014
      • Adamjee Life Assurance Co. Ltd - company overview
        • Table Adamjee Life Assurance Co. Ltd - Key Facts
        • Table Adamjee Life Assurance Co. Ltd - Key Financials (PKR Million), 2010-2014
      • EFU Life Assurance Ltd - company overview
        • Table EFU Life Assurance Ltd - Key Facts
        • Table EFU Life Assurance Ltd - Key Financials (PKR Billion), 2010-2014
      • IGI Life Insurance Ltd - company overview
        • Table IGI Life Insurance Ltd - Key Facts
        • Table IGI Life Insurance Ltd - Key Financials (PKR Million), 2010-2014
      • AsiaCare Health & Life Insurance Company Ltd - company overview
        • Table AsiaCare Health & Life Insurance Company Ltd - Key Facts
        • Table AsiaCare Health & Life Insurance Company Ltd - Key Financials (PKR Million), 2010-2014
  • Governance, Risk and Compliance
    • Table Pakistan - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Pakistan - Life Insurance Regulatory Framework
        • Table Pakistan - Minimum Financial Protection for Unit-linked insurance Products
      • Property insurance
        • Table Pakistan - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Pakistan - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Pakistan - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workmen's compensation insurance
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • Securities and Exchange Commission of Pakistan
      • Insurance Association of Pakistan (IAP)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Pakistan - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report