Boston, MA -- (SBWIRE) -- 11/27/2013 -- In terms of written premium, Pakistan's life insurance segment recorded strong levels of growth during the review period (2008-2012). The segment accounted for 58.7% of the country's insurance industry, and its growth was primarily driven by the nation's positive economic outlook, increasing levels of consumer awareness, the availability of a range of cover, and the development of new distribution channels. According to World Bank Statistics, the country's GDP grew at a CAGR of 7.8% during the review period to reach PKR20.5 trillion (US$220.9 billion) in 2012. Pakistan's economic growth is anticipated to attract higher foreign capital inflows while supporting business and consumer confidence over the forecast period (2012-2017). This will have a positive impact on the country's life insurance segment, which is expected to grow at a forecast-period CAGR of 16.7%. The number of life insurance policies sold will increase at a CAGR of 13.1% over the forecast period.

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Key Highlights

- In terms of written premium, Pakistan's life insurance segment recorded strong levels of growth during the review period
- The individual life category recorded strong growth during the review period. The category grew from PKR27 billion (US$0.4 billion) in 2008 to PKR70.2 billion (US$0.8 billion) in 2012, at a review-period CAGR of 27%
- Pension plans are also expected to contribute to the growth of the life segment over the forecast period
- The life segment recorded a growth in investment income during the review period, primarily due a strong investment portfolio mix of equities and bonds
- The life insurance segment in Pakistan is highly concentrated, with the three leading companies accounting for 90.8% of the segment's total gross written premium income in 2012

Scope

This report provides a comprehensive analysis of the life insurance segment in Pakistan:

- It provides historical values for Pakistan's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Pakistan's life insurance segment, along with market forecasts until 2017
- 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 life insurance products in Pakistan
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Pakistan for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Pakistan and its growth prospects
- It profiles the top life insurance companies in Pakistan and outlines the key regulations affecting them

Reasons to Get This Report

Companies Mentioned in this Report: State Life Insurance Corporation of Pakistan, Jubilee Life Insurance Company Ltd, EFU Life Assurance Ltd, Metlife Alico Pakistan, Adamjee Life Assurance Co. Ltd, AsiaCare Health & Life Insurance Company Ltd, East West Life Assurance Company Ltd

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