Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Mar 2024

Pakistan: Too few life insurers cited as reason for low penetration rate

Source: Asia Insurance Review | Oct 2017

Pakistan Life & Health Agents/Advisors

Life insurance penetration in Pakistan is low and one reason for this is the existence of a very small number of life insurance players in the market, suggested Mr Faisal Abbasi, CEO of TPL Life Insurance. 
 
   “My back-of-the-envelope calculations show that there is one life insurance company for every two crore people in the country,” he told BR Research.
 
   Pakistan has a population of around 210 million people. According to the website of the financial regulator, Securities & Exchange Commission of Pakistan, there are nine life insurers in the country. The low insurance penetration rate is also due to poor public awareness, he said.
 
   Nevertheless, the penetration rate increased to 0.56% at present from 0.35% seven years ago, with the growth largely generated through bancassurance, Mr Abbasi said. A 
 
| Print
CAPTCHA image
Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.