Life Insurance & Pension in Pakistan
Summary
Life Insurance & Pension 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
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Pakistani life insurance & pension market recorded gross written premiums of $1.6 billion in 2023, representing a negative compound annual growth rate (CAGR) of 3% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $1.5 billion, equivalent to 94.9% of the market's overall value.
- The significant drop in GDP growth has created more uncertainty for consumers about their financial security. For instance, according to the World Bank, the real GDP annual growth of Pakistan stood at negative 0.005% in 2023, as compared to 4.8% in 2022. This negative economic outlook has discouraged consumers from spending more on financial protection and retirement planning.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Pakistan
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Pakistan
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Pakistan life insurance & pension market with five year forecasts
- What was the size of the Pakistan life insurance & pension market by value in 2023?
- What will be the size of the Pakistan life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Pakistan life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Pakistan's life insurance & pension market?
- 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 are the strengths and strategies of the leading players?
- 7.4. What are the recent developments in the market?
- 8 Company Profiles
- 8.1. State Life Insurance Corporation of Pakistan
- 8.2. Jubilee Life Insurance Company
- 8.3. EFU Life Assurance Ltd.
- 8.4. Adamjee Life Assurance Company Limited
- 8.5. Country data
- 9 Appendix
- 9.1. Methodology
- 9.2. Industry associations
- 9.3. Related MarketLine research
- 9.4. About MarketLine
- List of Tables
- Table 1: Pakistan life insurance & pension market value: $ billion, 2018-23
- Table 2: Pakistan life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Pakistan life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Pakistan life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Pakistan life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Pakistan life insurance & pension market share: % share, by value, 2023
- Table 7: State Life Insurance Corporation of Pakistan: Key Facts
- Table 8: State Life Insurance Corporation of Pakistan: Key Employees
- Table 9: Jubilee Life Insurance Company: Key Facts
- Table 10: Jubilee Life Insurance Company: Key Employees
- Table 11: EFU Life Assurance Ltd.: Key Facts
- Table 12: EFU Life Assurance Ltd.: Annual Financial Ratios
- Table 13: EFU Life Assurance Ltd.: Key Employees
- Table 14: EFU Life Assurance Ltd.: Key Employees Continued
- Table 15: EFU Life Assurance Ltd.: Key Employees Continued
- Table 16: Adamjee Life Assurance Company Limited: Key Facts
- Table 17: Adamjee Life Assurance Company Limited: Annual Financial Ratios
- Table 18: Pakistan Size of Population (million), 2019-23
- Table 19: Pakistan Exchange Rate, 2018-23
- List of Figures
- Figure 1: Pakistan life insurance & pension market value: $ billion, 2018-23
- Figure 2: Pakistan life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Pakistan life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Pakistan life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Pakistan, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Pakistan, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Pakistan, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Pakistan, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Pakistan, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Pakistan, 2023
- Figure 11: Pakistan life insurance & pension market share: % share, by value, 2023
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