Summary
Life Insurance in Pakistan industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The Pakistani life insurance market had total gross written premiums of $1.6 billion in 2022, representing a compound annual growth rate (CAGR) of 5.5% between 2017 and 2022.
- The Life Insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $1.6 billion, equivalent to 99.7% of the market's overall value.
- The Pension/Annuity segment contributed gross written premiums of $0.0 billion in 2022, equating to 0.3% of the market's aggregate value. According to Pakistan's 2022 report from the Security and Exchange Commission, the country's insurance market has grown by 22%, while claims have gone from Rs170 billion to Rs189 billion and there are 10 million active policyholders. The performance of the market is forecast to decelerate, with an anticipated CAGR of 3.3% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $1.9billion by the end of 2027.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Pakistan
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Pakistan
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Pakistan life insurance market with five year forecasts by both value and volume
Reasons to Buy
- What was the size of the Pakistan life insurance market by value in 2022?
- What will be the size of the Pakistan life insurance market in 2027?
- What factors are affecting the strength of competition in the Pakistan life insurance market?
- How has the market performed over the last five years?
- Who are the top competitors in Pakistan's life insurance market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What are the strengths of leading players?
7.5. How has the COVID-19 outbreak impacted leading players?
8 Company Profiles
8.1. Adamjee Life Assurance Company Limited
8.2. EFU Life Assurance Ltd.
8.3. State Life Insurance Corporation of Pakistan
8.4. Jubilee Life Insurance Co Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Pakistan life insurance market value: $ billion, 2017-22(e)
Table 2: Pakistan life insurance market category segmentation: % share, by value, 2017–2022(e)
Table 3: Pakistan life insurance market category segmentation: $ billion, 2017-2022
Table 4: Pakistan life insurance market geography segmentation: $ billion, 2022(e)
Table 5: Pakistan life insurance market value forecast: $ billion, 2022-27
Table 6: Pakistan life insurance market share: % share, by value, 2022(e)
Table 7: Adamjee Life Assurance Company Limited: key facts
Table 8: EFU Life Assurance Ltd.: key facts
Table 9: EFU Life Assurance Ltd.: Annual Financial Ratios
Table 10: EFU Life Assurance Ltd.: Key Employees
Table 11: EFU Life Assurance Ltd.: Key Employees Continued
Table 12: EFU Life Assurance Ltd.: Key Employees Continued
Table 13: State Life Insurance Corporation of Pakistan: key facts
Table 14: State Life Insurance Corporation of Pakistan: Key Employees
Table 15: Jubilee Life Insurance Co Ltd: key facts
Table 16: Jubilee Life Insurance Co Ltd: Annual Financial Ratios
Table 17: Jubilee Life Insurance Co Ltd: Key Employees
Table 18: Pakistan size of population (million), 2018–22
Table 19: Pakistan exchange rate, 2016–20
List of Figures
Figure 1: Pakistan life insurance market value: $ billion, 2017-22(e)
Figure 2: Pakistan life insurance market category segmentation: $ billion, 2017-2022
Figure 3: Pakistan life insurance market geography segmentation: % share, by value, 2022(e)
Figure 4: Pakistan life insurance market value forecast: $ billion, 2022-27
Figure 5: Forces driving competition in the life insurance market in Pakistan, 2022
Figure 6: Drivers of buyer power in the life insurance market in Pakistan, 2022
Figure 7: Drivers of supplier power in the life insurance market in Pakistan, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Pakistan, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Pakistan, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in Pakistan, 2022
Figure 11: Pakistan life insurance market share: % share, by value, 2022(e)
