New Financial Services market report from Business Monitor International: "Pakistan Insurance Report Q1 2015"

Boston, MA -- (SBWire) -- 01/21/2015 --As of late 2014, the news flow confirms that Pakistan is a very challenging insurance market, and one that is still basically at an embryonic level of development. However, premiums are growing rapidly, and the strengths of the local insurers are obvious.

Pakistan is undoubtedly one of the most challenging insurance markets of the many that BMI monitors on a regular basis. The life segment is constrained by the (very) low income levels of many households, the low level of financial inclusion, the lack of understanding of the benefits of insurance and the relative absence of multi-national corporations who are natural buyers of group products. The non-life segment also has to deal with widespread poverty, and with a notoriously volatile political/security and business environment.

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Unsurprisingly, the insurance sector is very under-developed in terms of key metrics such as its absolute size, penetration (premiums as a percentage of GDP) and density (per capita premiums). Nevertheless, the most recent (late 2014) data from the trade association and the companies confirms that premiums have been rising strongly in both segments. In contrast to many emerging markets during 2014, the development of premiums in USD terms has not been affected by the weakness of the currency.

In essence, the indigenous insurance companies, many of which are active in both major segments, are increasing volumes and prices. They are reaching first time users. This is partly due to creation of innovative products. It is also partly due to bancassurance deals and imaginative arrangements to distribute micro-insurance products to people who do not have bank accounts. Some of the local companies have partnered with foreign groups in relation to parts of their business. Hollard's involvement with Adamjee Life is a good example: so too is the Allianz/EFU health insurance JV. Above all, the local insurers are resilient.

Recent Developments

- IGI completed its purchase of MetLife

The Pakistan Insurance Report has been researched at source and features Business Monitor International (BMI)'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

- Benchmark BMI's independent insurance industry forecasts for Pakistan to test other views - a key input for successful budgeting and strategic business planning in Pakistan's insurance market.

- Target business opportunities and risks in Pakistan through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.

- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI?s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2005-2014) and forecasts to end-2019 for key industry indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

- Life/non-life Premiums: Total premium growth (USDmn), premium growth (% y-o-y), penetration (% of GDP), density (USD per capita) for Life and Non-Life sectors, claims reinsurance, and assets and liabilities.

- Non-life subsectors: Data on gross written premiums for all major Non-Life segments (motor, transport, property, personal accident, health, general liability and credit financial).

BMIs Insurance Risk Reward Index

BMIs Risk Reward Indices provide investors (Life and Non-Life) looking for opportunities in the region with a clear country-comparative assessment of a market?s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.

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