The Securities and Exchange Commission of Pakistan (SECP) has broadened the eligibility criteria for the position of chief financial officer of an insurance company.
The Pakistani takaful sector chalked up contributions of PKR48bn ($173m) in the family takaful segment in 2023, 17% higher compared to 2022, according to the Securities and Exchange Commission of Pakistan (SECP).
The Pakistani insurance industry posted total gross premium written of PKR631bn ($2.27bn) in 2023, reflecting 14% growth compared to PKR553bn in 2022, according to the Securities and Exchange Commission of Pakistan (SECP), which indicates that growth could have been more rapid.
The Securities and Exchange Commission of Pakistan (SECP) yesterday proposed to increase the minimum paid-up capital requirement for insurance companies as part of its "Insured Pakistan" initiative.
The Securities and Exchange Commission of Pakistan (SECP) has issued an exposure draft of regulatory requirements for the sale of life insurance savings products through technology-based distribution channels by life insurers.
The Competition Commission of Pakistan (CCP) has proposed that the reinsurance market in the country be opened up to the private sector.
Adamjee Insurance Company has a history of robust operating profitability, with profits before tax ranging from PKR2.2bn ($7.95m) to PKR5.1bn between 2019 and 2023, noted AM Best.
The Securities & Exchange Commission of Pakistan (SECP) places specific focus on takaful as a strategic priority in its five-year plan for the insurance sector, Mr Akif Saeed, the chairman of the regulatory agency said in his welcome address to participants of a roundtable discussion held earlier this month.
Jubilee General Insurance Company has a history of strong earnings, with a five-year (2019-2023) weighted average return on equity of 17.6%, notes AM Best.
The Securities and Exchange Commission of Pakistan (SECP) has issued a revised illustration format to improve the readability, standardise insurers' illustrative values, and safeguard prospective policyholders from any deception.