The market results

Since the enforcement the 2000 reforms, the insurance sector has reported an average annual growth of 22% in the recent five years reaching a turnover of 52.2 billion PKR (857 million USD) in 2006, with 43% for life insurance and 57% for the non-life business.

Yet despite this rise in premiums, the national penetration rate remains low at 0.67% of GDP. The authorities have started talks with all the professionals and namely the three state owned companies : State Life, National Insurance Company and Pakistan Rein-surance Company in view of outlining a plan to boost the sector.