Find Insurance and Reinsurance expertise in Pakistan

Pakistan’s insurance industry has historically been dominated by a monopoly of state-owned organisations with little regulation or supervision. However, since the Insurance Ordinance 2000, this sector has changed dramatically. The Securities and Exchange Commission, which regulates the industry has introduced and enforced a raft of new legislation. This has led to a more diverse market, but nonetheless insurance only represents 6% of financial sector assets.

The four major general insurers in Pakistan are Adamjee Insurance, EFU General Insurance, New Jubilee Insurance and the state-owned National Insurance Company Limited (NICL). The life insurance industry is even less diverse and is dominated by a single company, the State Life Insurance Corporation (SLIC), which contains 76% of the total life insurance business (2005).