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Pakistan

Pakistan

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Pakistan Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Pakistan includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Pakistan can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Global Statistics Regulatory Alerts Market Profiles Insight Compliance Compliance Point Clinical Trials Axco API Insight Risk Manager

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT +5
Islamabad
PKR
225.20 mn
2.98
6.95%
2,010.61 (mn)
0.79

Pakistan's insurance industry is still relatively small with a modest insurance penetration rate.

Total non-life (including PA and health business written by non-life companies) premium income in Pakistan in 2019 was PKR 83.65bn (USD 557.54mn), recording a growth of 8.59% compared with 2018.

In 2020 there were 39 registered non-life insurers in Pakistan, of which only 30 were active. There is also one (state-owned) reinsurance company in the market. Conventional insurance companies are permitted to operate takaful windows and most non-life conventional companies do so.

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