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Follow on Google News | New Market Research Report: Pakistan Insurance Report 2011New Financial Services market report from Business Monitor International: "Pakistan Insurance Report 2011"
In the non-life segment, premiums had been growing by 15-20% per year over 2005-2007. Growth slowed to 6% in 2008 and just 2% in 2009. On the basis of the figures that are available to us at the time of writing, we estimated non-life premiums tracked sideways in 2010. By the standards of developing countries, this is an outcome that is more than respectable. Even if one assumes, as BMI does, that nonlife penetration will rise only slightly over the coming years, it is easy to see how Pakistan could be one of the world's fastest growing insurance markets over the next five years. The situation of the life segment is even more encouraging. The life segment is underdeveloped in terms of our main metric, density (ie: premiums per capita), but has sustained steady double digit growth over the last five years and is expected to continue doing so. Importantly, the life segment accounts for well over half of the entire insurance sector. In this respect, Pakistan differs markedly from countries such as Kazakhstan or Ukraine, where persistent financial and social instability have discouraged people from long-term saving through insurance. The implication is that there is a small minority of the population who are risk tolerant and understand the benefits of life insurance. As is the case in a number of countries whose insurance sectors are surveyed by BMI, the life segment is dominated by a state-owned former monopoly, State Life Insurance Company (SLIC). The gradual loss of market share by SLIC to ALICO and the other life insurers, most of which are offshoots of local non-life companies, suggests to us that competition is causing the creation of attractive products. This process could well account for the very impressive growth trend. The Pakistani non-life segment also suffered as a result of the extreme flooding in the country in 2010, which affected margins. Munich Re reported that H110 was the warmest period since meteorological records began in 1880. The devastating floods in Pakistan and other severe weather events are being attributed to the effects of climate change by some commentators. Munich Re also said that based on its data and records, the number of extreme weather events has tripled since 1980 and that the trend is expected to continue. For more information or to purchase this report, go to: - http://www.fastmr.com/ Report Table of Contents: The Sector At A Glance - Table: Pakistan's Insurance Sector At A Glance - Key Insights On Pakistan's Insurance Sector - Table: Development Of Non-Life Segment Premiums, 2005-2009 (PKRmn) - Key Features Of This Report SWOT Analysis - Pakistan Insurance Industry SWOT - Pakistan Political SWOT - Pakistan Economic SWOT - Pakistan Business Environment SWOT Asia Pacific Market Overview - Table: Premium's In Asia Pacific's Non-Life Segment (US$mn) - Table: Premiums In Asia Pacific's Life Segment (US$mn) MetLife's Acquisition Of ALICO - Table: ALICO At A Glance - Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%) - Table: ALICO - A Market Leader In Japan - Table: MetLife's Acquisition Of ALICO - Table: MetLife And ALICO Combined Islamic Insurance Overview Projections And Forecasts - Table: Insurance Premiums, 2007-2015 - Projections And Drivers Of Growth - Table: Growth Drivers, 2007-2015 Country Update - Macroeconomic Outlook - Table: Pakistan - Economic Activity, 2007-2014 - Political Outlook - Long-Term Political Outlook Insurance Business Environment Ratings - Table: Pakistan's Insurance Business Environment Ratings - Table: Asia Pacific Insurance Business Environment Ratings Regional Context - Table: Non-Life Premiums In A Regional Context, 2009 - Table: Life Premiums In A Regional Context, 2009 Analysis Of Competitive Conditions - Table: Ranking Of Non-Life Insurers By Premiums, 2009 - Table: Ranking Of Life Insurers By Premiums, 2009 Company Profiles - Adamjee Insurance Company - ALICO - Allianz - EFU - New Jubilee Insurance Company - State Life Insurance Corporation of Pakistan Country Snapshot: Pakistan Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education And Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2030 - Table: Employment Indicators, 2001-2006 - Section 3: Labour Market And Spending Power - Table: Consumer Expenditure, 2000-2012 (US$) - Table: Average Annual Manufacturing Wages, 2000-2012 BMI Methodology - Insurance Business Environment Ratings - Table: Insurance Business Environment Indicators And Rationale - Table: Weighting Of Indicators About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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