Non-Life Insurance in Pakistan
SummaryNon-Life Insurance in Pakistan industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The Pakistani non-life insurance market recorded written premiums of $0.6 billion in 2023, representing a negative compound annual growth rate (CAGR) of 3.0% between 2018 and 2023.
- The property segment accounted for the market's largest proportion in 2023, with total written premiums of $0.3 billion, equivalent to 43.0% of the market's overall value.
- Rising inflation pressured the Pakistani non-life insurance market by increasing costs for both insurers and consumers. The National Statistics Office reports that Pakistan’s consumer price inflation of health reached 18.1% in 2023, up from 12.4% from the previous year. This elevated the cost of premiums and claims, discouraging new policy purchases and renewals, thereby dampening overall market growth.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Pakistan
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Pakistan
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Pakistan non-life insurance market with five year forecasts
Reasons To Buy
- What was the size of the Pakistan non-life insurance market by value in 2023?
- What will be the size of the Pakistan non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Pakistan non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Pakistan's non-life insurance market?
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