Pakistan Insurance Report Q3 2016: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Tue Jun 21 2016


Pakistan remains a classic example of a market where insurance is well established among households and companies that understand it and that can afford it, but where most people remain uninsured. Solutions are overwhelmingly provided by highly resilient and long-established indigenous companies, some of which have the advantage that they are backed by the government. Aside from strong brands and multi-channel distribution, the leaders have access to the capital that they need. In the non-life segment, we anticipate that there will be a substantial consolidation of what remains a fragmented landscape. The four largest players, however, will gain market shares. For much of the forecast period, non-life premiums should rise at solid, mid-single rates, while life premiums should expand by around 10% annually . Growth will come predominantly from provision of insurance solutions to existing users.

Key Updates And Forecasts

We estimate growth in life premiums of 11.5% in 2016. Recognising the rapid expansion of the life insurers over recent months, we have lifted our forecasts this quarter. We now expect premiums to rise by an annual average of 10.2% through the remainder of the forecast period as well. The growth will come overwhelmingly from the provision of new products to existing users. Micro-insurance and family takaful should develop rapidly from low bases, but will not likely be of sufficient size to have an impact on the total premiums written in the segment prior to 2020.

Full Report Details at
- http://www.fastmr.com/prod/1188119_pakistan_insurance_report_q3.aspx?afid=301

In the non-life segment, we have basically maintained our growth forecasts. We believe that non-life penetration will slip gradually from the current (and low) level of about 0.27% of GDP. The growth in premiums will come substantially from the expansion in nominal GDP.

A highlight of the recent months has been the launch of takaful windows by several of the leading non-life companies. As noted, though, the rapid expansion of takaful is unlikely to have a meaningful impact on overall premiums in the forecast period.

The Pakistan Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Pakistan Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Pakistani insurance industry.

Key Benefits

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- India Insurance Report Q3 2016
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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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