Although Pakistan has 49 insurers operating, it still has one of the lowest penetration levels in South Asia at 0.7%. However, this is bound to change as the industry pursues a new roadmap for growth with a thrust on microinsurance to reach the masses.
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In spite of having 49 insurers operating in the market, Pakistan still has one of the lowest penetration levels in the South Asian region at 0.7%. However, this is bound to change as the industry pursues a new roadmap for growth with a thrust on microinsurance to reach the masses.
By Jimmy John
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The Securities and Exchange Commission of Pakistan (SECP) is hosting the 2nd South Asian Association for Regional Cooperation (SAARC) Insurance Regulators Meet and International Conference from 14-16 April 2014 in Karachi, Pakistan with the theme "Local to Glocal". Messrs Faraz Uddin Amjad and Syed Irfan Habib of SECP say the conference aims to bring together regional insurance market stakeholders and is expected to draw almost 500 participants.
Rapid globalisation and expansion has laid bare myriad opportunities and actuaries are urged to play an important role in tapping these opportunities, said speakers at the 16th Global Conference of Actuaries held in Mumbai, India.