Pakistan Insurance Report - Business Monitor International - Industry Reports

Pakistan Insurance Report

Pakistan Insurance Report - Business Monitor International - Industry Reports
Pakistan Insurance Report
Published Sep 03, 2016
47 pages — Published Sep 03, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

< ALACRA META ABSTRACT>BMI View: Pakistan s insurance market is largely underdeveloped and rates of penetration and density are low in both the life and non-life sectors. The lack of affordability of traditional insurance products is a major hindrance to the development of the market and while economic expansion in the country will stimulate growth in the insurance sector over the course of the forecast period through to ---- the market will still fall far short of its potential. ...< ALACRA META ABSTRACT>BMI View: Pakistan s insurance market is largely underdeveloped and rates of penetration and density are low in both the life and non-life sectors. The lack of affordability of traditional insurance products is a major hindrance to the development of the market and while economic expansion in the country will stimulate growth in the insurance sector over the course of the forecast period through to ---- the market will still fall far short of its potential. There are some positive trends in play, including a gradual improvement in household income rates and the development of a wider product range and more extensive distribution channels on the part of the leading providers, which support our forecasts for steady premium growth over the medium term. ...There are some positive trends in play, including a gradual improvement in household income rates and the development of a wider product range and more extensive distribution channels on the part of the leading providers, which support our forecasts for steady premium growth over the medium term. We also note government steps to improve the regulatory and operating environment for insurers which could attract much-needed foreign investment to the sector. Table: Headline Insurance Forecasts (Pakistan ---------) ---- ---- ----e ----f ----f ----f ----f ----f Gross life premiums written, PKRbn ---.-- ---.-- ---.-- ---.-- ---.-- ---.-- ---.-- ---.-- Gross life premiums written, PKR, y-o-y --.- --.- -.- --.- --.- --.- -.- -.- Gross life premiums written, USDbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.-- Gross life premiums written, USD, y-o-y --.- --.- -.- -.- -.- -.- -.- -.- Gross non-life premiums written, PKRbn --.-- --.-- --.-- --.-- --.-- --.-- --.-- ---.-- Gross non-life premiums written, PKR, y-o-y -.- --.- --.- -.- -.- -.- -.- -.- Gross non-life premiums written, USDbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.--

...As noted above, the life insurance sector in Pakistan is underdeveloped, with low rates of penetration and density. Life penetration is expected to remain at -.- of GDP in ---- while life density is around USD-.- per capita. ...In other words, those who do are often paying annual premiums that exceed USD--. Extending life insurance coverage to the large section of the population which currently does not have any cover at all will be key to securing longer term sustainable growth in the market. Throughout our forecast period we expect to see premiums growing by just over -- annually, in local currency terms with slightly slower growth in US dollar terms. ...Life expectancy has been rising gradually for both men and women, and will continue to do so, from the current level of around -- years.

...Pakistan s life segment is developing very quickly from a low base, thanks mainly to innovation by the leading private sector companies - who are gaining market share at the expense of public sector titan State Life Insurance Corporation (SLIC). They are developing attractive new products and successfully distributing them through multiple channels. ...

  
Source:
Document ID
1752-833X
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Pakistan Insurance Report" Sep 03, 2016. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Pakistan-Insurance-Report-2026-687>
  
APA:
Business Monitor International - Industry Reports. (2016). Pakistan Insurance Report Sep 03, 2016. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Pakistan-Insurance-Report-2026-687>
  
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