The Pakistani government has decided to sell its stakes in three insurance companies and rejected the recommendations of their boards to retain the insurers in the public sector.
EFU General Insurance (EFUG), the largest non-life insurer in Pakistan, has a history of robust operating profitability, with a five-year (2019-2023) weighted average return on equity of 12.9%, supported by positive underwriting and investment results, says AM Best.
Nine insurance companies have signed an MoU with the Central Depository Company of Pakistan (CDC) to set up Pakistan's first centralised auto insurance repository, under the guidance of the Securities and Exchange Commission of Pakistan (SECP).
The Securities and Exchange Commission of Pakistan (SECP) has stressed the crucial need for agricultural insurance in Pakistan which currently accounts for only 2% of the total non-life sector premiums.
The Securities and Exchange Commission of Pakistan (SECP) has put forward a proposal to the Federal Board of Revenue (FBR) for the upcoming 2024-25 Budget to reinstate income tax credits for individuals purchasing insurance plans.
The potential conflict zone mentioned this year by the biggest number of panelists in a survey on political risk by WTW is India and its regional neighbours.
The Securities and Exchange Commission of Pakistan (SECP) has entered the second phase of its end-to-end digital transformation and automation project, LEAP (Leading Efficiency through Automation Prowess), thereby automating its regulatory approvals and licensing regime.
The Securities and Exchange Commission of Pakistan has proposed amendments to the General Takaful Accounting Regulations, 2019, allowing non-life insurers to present complete takaful results in financial statements.
Multiple layers of taxation in Pakistan are affecting the affordability of insurance and exacerbating existing inequalities by placing a disproportionate burden on those who can least afford insurance, says the Securities and Exchange Commission of Pakistan (SECP).
The adoption of international reporting standards and the modernisation of Pakistan's insurance industry will remain critical priorities for the Securities and Exchange Commission of Pakistan (SECP), said the Commissioner of Insurance, Aamir Khan.