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Non-Life Insurance in Pakistan, Key Trends and Opportunities to 2019

Non-Life Insurance in Pakistan, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Non-Life Insurance in Pakistan, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Pakistani non-life insurance segment, and a comparison of the Pakistani insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Pakistani insurance industry, 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 'Non-Life Insurance in Pakistan, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Pakistani non-life insurance segment, including:

  • The Pakistani non-life insurance segment’s detailed outlook by product category
  • A comprehensive overview of the Pakistani economy and demographics
  • A comparison of the Pakistani insurance industry with its regional counterparts
  • The various distribution channels in the Pakistani non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Pakistani insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Pakistan
  • Details of regulatory policy applicable to the Pakistani insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Pakistan:
  • It provides historical values for the Pakistani non-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 non-life insurance segment, and market forecasts to 2019.
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Pakistani non-life insurance segment.
  • Assess the competitive dynamics in the non-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 non-life insurance segment grew during the review period, driven by positive economic expansion and favorable government regulations, including a proposed terrorism insurance pool.
  • Property insurance was the largest category in terms of gross written premium, and accounted for 59.2% of the non-life segment’s gross written premium in 2014.
  • Public awareness of the benefits of insurance cover is increasing due to the high-frequency of natural disasters and terrorist attacks.
  • Motor insurance for imported cars is often priced higher than insurance for conventional Pakistani-bought cars. The higher price and rising costs for repairs associated with imported cars is expected to encourage Pakistani customers to invest in motor insurance policies, thereby increasing demand over the forecast period.
  • The sale of general insurance has traditionally been conducted through agents in Pakistan and the continuation of this trend is reflected in the dominance it exhibits as the leading distribution channel.
  • The segment is highly concentrated with the 10 leading companies collectively accounting for 80.8% of the segment’s gross written premium in 2014.


  • Key Facts and Highlights
    • Table Pakistani Non-Life Insurance - Key Facts, 2014
    • Table Pakistani Non-Life Insurance - Segment Shares of the Top Insurers, 2014
  • Executive Summary
  • Economy and Demographics
    • Table Pakistani Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Pakistani Non-Life Insurance - Gross Written Premium (PKR Billion and US$ Million), 2010-2014
        • Table Pakistani Non-Life Insurance - Penetration (%), 2010-2014
        • Table Pakistani Non-Life Insurance - Gross Written Premium (PKR Billion and US$ Million), 2014-2019
        • Table Pakistani Non-Life Insurance - Penetration (%), 2014-2019
        • Table Pakistani Non-Life Insurance - Premium per Capita (PKR and US$), 2010-2014
        • Table Pakistani Non-Life Insurance - Premium per Capita (PKR and US$), 2014-2019
      • Claims
        • Table Pakistani Non-Life Insurance - Paid Claims (PKR Billion and US$ Million), 2010-2014
        • Table Pakistani Non-Life Insurance - Paid Claims (PKR Billion and US$ Million), 2014-2019
      • Profitability
        • Table Pakistani Non-Life Insurance - Profitability Ratio (%), 2010-2014
        • Table Pakistani Non-Life Insurance - Profitability Ratio (%), 2014-2019
      • Assets and investments
        • Table Pakistani Non-Life Insurance - Total Assets (PKR Billion and US$ Billion), 2010-2014
        • Table Pakistani Non-Life Insurance - Total Assets (PKR Billion and US$ Billion), 2014-2019
        • Table Pakistani Non-Life Insurance - Total Investment Income (PKR Billion and US$ Million), 2010-2014
        • Table Pakistani Non-Life Insurance - Total Investment Income (PKR Billion and US$ Billion), 2014-2019
        • Table Pakistani Non-Life Insurance - Investment Portfolio (PKR Billion), 2010-2014
        • Table Pakistani Non-Life Insurance - Investment Portfolio (PKR Billion), 2014-2019
  • Outlook by Category
    • Table Pakistani Non-Life Insurance - Gross Written Premium by Category (PKR Billion), 2010-2014
    • Table Pakistani Non-Life Insurance - Gross Written Premium by Category (PKR Billion), 2014-2019
    • Property Insurance
      • Product overview
      • Premium
        • Table Pakistani Property Insurance - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Property Insurance - Gross Written Premium (PKR Billion), 2014-2019
      • Claims
        • Table Pakistani Property Insurance - Paid Claims (PKR Billion and US$ Million), 2010-2014
        • Table Pakistani Property Insurance - Paid Claims (PKR Billion and US$ Million), 2014-2019
      • Profitability
        • Table Pakistani Property Insurance - Loss Ratio (%), 2010-2014
        • Table Pakistani Property Insurance - Loss Ratio (%), 2014-2019
    • Motor Insurance
      • Product overview
      • Premium
        • Table Pakistani Motor Insurance - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Motor Insurance - Gross Written Premium (PKR Billion), 2014-2019
      • Claims
        • Table Pakistani Motor Insurance - Paid Claims (PKR Billion and US$ Million), 2010-2014
        • Table Pakistani Motor Insurance - Paid Claims (PKR Billion and US$ Million), 2014-2019
      • Profitability
        • Table Pakistani Motor Insurance - Loss Ratio (%), 2010-2014
        • Table Pakistani Motor Insurance - Loss Ratio (%), 2014-2019
    • Liability Insurance
      • Product overview
      • Premium
        • Table Pakistani Liability Insurance - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Liability Insurance - Gross Written Premium (PKR Billion), 2014-2019
      • Claims
        • Table Pakistani Liability Insurance - Paid Claims (PKR Billion and US$ Billion), 2010-2014
        • Table Pakistani Liability Insurance - Paid Claims (PKR Billion and US$ Billion), 2014-2019
      • Profitability
        • Table Pakistani Liability Insurance - Loss Ratio (%), 2010-2014
        • Table Pakistani Liability Insurance - Loss Ratio (%), 2014-2019
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Pakistani Transport Network - Global Rankings
      • Premium
        • Table Pakistani Marine, Aviation and Transit Insurance - Gross Written Premium (PKR Billion), 2010-2014
        • Table Pakistani Marine, Aviation and Transit Insurance - Gross Written Premium (PKR Billion), 2014-2019
      • Claims
        • Table Pakistani Marine, Aviation and Transit Insurance - Paid Claims (PKR Billion and US$ Million), 2010-2014
        • Table Pakistani Marine, Aviation and Transit Insurance - Paid Claims (PKR Billion and US$ Million), 2014-2019
      • Profitability
        • Table Pakistani Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
        • Table Pakistani Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
  • Natural and man-made Hazards
    • Table Pakistani Average Annual Loss by Hazard, 1990-2014
    • Floods
    • Earthquakes
    • Cyclones and Storms
    • Droughts
    • Terrorism
    • Exposure
  • Competitive Landscape
    • Leading Companies in the Pakistani Non-Life Insurance Segment
      • Table Pakistani Non-Life Insurance - Segment Shares (%), 2014
      • EFU General Insurance Ltd - company overview
        • Table EFU General Insurance Ltd - Key Facts
        • Table EFU General Insurance Ltd - Key Financials (PKR Million), 2010-2014
      • Adamjee Insurance Company Ltd - company overview
        • Table Adamjee Insurance Company Ltd - Key Facts
        • Table Adamjee Insurance Company Ltd - Key Financials (PKR Million), 2010-2014
      • Jubilee General Insurance Company Ltd - company overview
        • Table Jubilee General Insurance Company Ltd - Key Facts
        • Table Jubilee General Insurance Company Ltd - Key Financials (PKR Million), 2010-2014
      • The United Insurance Company of Pakistan Ltd - company overview
        • Table The United Insurance Company of Pakistan Ltd - Key Facts
        • Table The United Insurance Company of Pakistan Ltd - Key Financials (PKR Million), 2010-2014
      • IGI Insurance Ltd - company overview
        • Table IGI Insurance Ltd - Key Facts
        • Table IGI Insurance 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)
  • Databook
    • Policies and Premium
      • Table Pakistani Insurance Industry - Policies and Premium, 2010-2014
      • Table Pakistani Insurance Industry - Policies and Premium, 2014-2019
    • Claims and Expenses
      • Table Pakistani Non-Life Insurance - Claims and Expenses, 2010-2014
      • Table Pakistani Non-Life Insurance - Claims and Expenses, 2014-2019
    • Assets and Investments
      • Table Pakistani Non-Life Insurance - Assets and Investments, 2010-2014
      • Table Pakistani Non-Life Insurance - Assets and Investments, 2014-2019
    • Property Insurance
      • Table Pakistani Non-Life Insurance - Property Insurance, 2010-2014
      • Table Pakistani Non-Life Insurance - Property Insurance, 2014-2019
    • Motor Insurance
      • Table Pakistani Non-Life Insurance - Motor Insurance, 2010-2014
      • Table Pakistani Non-Life Insurance - Motor Insurance, 2014-2019
    • Liability Insurance
      • Table Pakistani Non-Life Insurance - Liability Insurance, 2010-2014
      • Table Pakistani Non-Life Insurance - Liability Insurance, 2014-2019
    • Marine, Aviation and Transit Insurance
      • Table Pakistani Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014
      • Table Pakistani Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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