Naperville, IL -- (SBWIRE) -- 12/24/2012 -- The Pakistani life insurance segment recorded a positive growth rate during the review period. The segment’s growth was primarily driven by rising consumer awareness with regards to the benefits of life insurance products, their dualistic coverage as a long-term savings instrument, and the development of new distribution channels. The life insurance segment recorded a growth in investment income during the review period. This was primarily due to a strong investment portfolio, which is a mix of equities and bonds. In order to secure the regular return on the investment, life insurance companies placed a significant portion of their investment in fixed-income securities.
Scope
This report provides a comprehensive analysis of the life insurance market in Pakistan:
- It provides historical values for the Pakistan life insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
- It offers a detailed analysis of the key sub-segments in the Pakistan life insurance market, along with market forecasts until 2016
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for insurance products in Pakistan
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Pakistan for life insurance business
- It provides a detailed analysis of the reinsurance market in Pakistan and its growth prospects
- 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 Pakistan life insurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Pakistan life insurance market
- Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Pakistan insurance market and its impact on companies and the market's future
Key Highlights
- Pakistan’s economic growth is anticipated to attract higher foreign capital inflows while supporting business and consumer confidence over the forecast period.
- Since unit-linked policies have a complex benefit structure and investment risk, the SECP proposed new regulations with the aim of achieving a greater level of transparency in disclosures made by insurance companies to policyholders regarding unit pricing and fund management, which will increase consumer confidence.
- The growth in the category was derived from strong marketing strategies adopted by insurers in order to encourage individual client purchase. This also had the effect of supporting a strong demand for individual unit-linked products during the review period.
- Pakistan has a liberalized foreign direct investment (FDI) policy with few restrictions, which is expected to encourage foreign companies to enter into the segment. The SECP has proposed a new regulation for unit-linked life insurance policies in order to provide policyholders with more transparency.
- Growth in the Pakistani life insurance segment was supported by the expansion of distribution channel networks during the review period. A strong and efficient distribution channel network ensures insurance companies maintain their cost competiveness. In order to expand their market, life insurance companies are developing new distribution channels.
- As of 2011, the State Life Insurance Corporation of Pakistan was the leading life insurance company in the Pakistan insurance segment, followed by EFU Life Assurance Limited, Jubilee Life Insurance Company Limited and American Life Insurance Company (Pakistan) Limited.
Companies Mentioned
State Life Insurance Corporation of Pakistan EFU Life Assurance Ltd American Life Insurance Company Adamjee Life Assurance Company Ltd East West Life Assurance Company Limited AsiaCare Health & Life Insurance Company Limited
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