Financial Performance of Pakistan Insurance Industry in Global Scenario
Waheed Akhter and
Muhammad Zia-ur-Rehman ()
Additional contact information Muhammad Zia-ur-Rehman: Lecturer, Management Sciences Department, National University of Modern Languages, Islamabad, Pakistan
This research paper analyzes the financial performance of Pakistan insurance industry during the period 2001-2005 in an attempt to assess future growth and potential. Though the growth of Pakistan insurance industry is satisfactory, yet insurance comparison with advanced as well as under-developed countries signifies abysmal low insurance penetration in the country. Performance of Pakistan insurance industry has been analyzed from two perspectives. Insurance comparison with advanced as well as under-developed countries and comparing Pakistan’s share to the world insurance market and through Regional comparison showing insurance density and penetration of selected Asian countries. The paper identifies some key economic indicators that are essential to create demand for insurance and contribute towards achieving long-term prosperity and sustainable economic development of the country.