A fast-growing market

Unlike many other sectors of Pakistan's economy, the insurance industry is booming. Nearly 60 insurance companies are now active in life and non-life businesses. As at June 30, 2013, the overall market posted an after tax profit of 3.94 billion PKR (40 million USD).

Development potential is important because of the growing number of individuals and companies adhering to the principles of insurance. However, the weakness of the services offered by insurers is a major impediment to the growth of this industry, with delays in compensation mainly pointed out.