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Non-Life Industry Growth (Excluding NICL). - Single digit growth 2006-2012 - 67% - USD = PKR 60 (2006) USD = PKR 94 (2012) Increase 57%. Factors (Non-Life). Dearth of new distribution channels. No new products The growth in the last few years has been mainly driven by
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Non-Life Industry Growth (Excluding NICL) • - Single digit growth • 2006-2012 - 67% • - USD = PKR 60 (2006) • USD = PKR 94 (2012) • Increase 57%
Factors (Non-Life) • Dearth of new distribution channels. • No new products • The growth in the last few years has been mainly driven by - Terrorism Insurance - Depreciation of Pak Rupee
Significant Changes (Non-Life) • New Regulations • Bancassurance Guidelines • Know Your Customer (KYC) Regulations • International Brokers involvement • Windows Takaful
The Future (Non-Life) • Too many players? - 40 insurers (SECP @ 18 May 2013) - 3 insurers write 62.25% • New Distribution Channels • Personal Lines Insurance • Innovation/New Products • Microinsurance