Home / Tag Archives: insurance

Tag Archives: insurance

Pakistan’s insurance sector

  Insurance in Pakistan has come a long way since the time when businesses were tightly regulated and concentrated in the hands of a few public sector insurers. Factors like slowdown of economic activities, law and order issues and high inflation are deteriorating the performance of this sector. Though insurance market in Pakistan is highly concentrated in urban areas and many insurance companies are subsidiaries of large industrial groups that …

Read More »

Takaful is fast evolving into banking system

  The trait of insurance in the world over is to cover industrial, commercial and social activities and every individual and group of people as it is an agreement in return of payment for specified loss, death or injuries but since it is disputable either the existing form of insurance are risk free or the certain amount paid to the concerned companies making insurance policies are Islamic or un-Islamic way. …

Read More »

Insurance industry playing significant role in economic growth

  The insurance industry has been supporting economic growth by helping individuals and businesses to manage their risk in a more efficient manner. In order for sustainable economic growth to take place, an insurance industry is a must, which focuses on risk financing and management. However, in terms of growth, the insurance industry is not up to par with the economy since but officials in the industry are working on …

Read More »

Livestock & crop insurance — An effective tool to avert flood losses

  The flood and the deluge has caused heavy losses in the form of human life, crop, livestock, property and infrastructure, which are preliminary estimated at US$200 million, however, exact number of losses would be quantifiable when the process of restoration will start specially in Punjab. However, the flood ravages this year are much less compared to the flood devastations, which had cost over US$10.1 billion in 2010. It is …

Read More »

Making insurance companies vibrant

  Fully cognizant of opportunities and threats facing Pakistan, Securities and Exchange Commission of Pakistan (SECP) has developed a ‘Roadmap’ for insurance companies to enable them to play their due role. Many of the sector experts have a myopic view that the primary mandate of insurance companies is ‘risk mitigation’ only. They often tend to overlook the fact that insurance companies also play a key role in capital formation. Anyone …

Read More »

Education & Insurance — Key players of developed economies

  Interview: Dr. Syed Arif Hussain, chief executive officer Takaful Pakistan Ltd Dr. Syed Arif Hussain MBBS, MBA (Marketing) who is the Chief Executive Officer of Takaful Pakistan Ltd believes that the education and the insurance are the key players behind all the developed economies, which indicates how much it is important for building the national economy in Pakistan. Talking to PAGE Dr Syed Arif said that Takaful Pakistan has …

Read More »

Insurance growth and prospect in Balochistan

  Insurance business generally grows on risk perception in a society. Larger the risk level, higher the growth of insurance industry. The risk perception — risks to life, assets and public and private properties — has been higher and widely prevalent in Balochistan where the incidents of target killings and attacks on public and private properties have witnessed a phenomenal growth over the past five years. The reason is the …

Read More »

Takaful products set to be a game-changer for nascent Islamic insurance market

  In today’s world, no country, irrespective of ideological differences, stands isolated today. Foreign Direct Investment (FDI) is a strong and vibrant instrument for an accelerated socio-economic development but conducive atmosphere in this regard is a must. There are two sources of FDI namely, Direct Investment and Portfolio. Direct Investment refers to investment in various industries. This represents fixed investment and is generally expected to be on long run basis …

Read More »

Crop insurance for farmers vital for agri growth

  Agricultural production and farm incomes in Pakistan are frequently affected by natural disasters such as droughts, floods, cyclones, storms, landslides and the earthquakes. Destruction to agriculture is often combined by the outbreak of epidemics and man-made disasters such as fire, sale of unauthentic seeds, fertilizers and pesticides, etc. Farmers across the country had suffered losses of billions of rupees due to floods of 2010 and rains of 2011. Agricultural …

Read More »

Awareness about benefits of insurance vital for growth: CEO, SPI Insurance

Insurance plays a key role in sustainable growth both on social and economic fronts, said Mian M. A. Shahid CEO, SPI Insurance, however, awareness of the masses at grassroots level about the benefits of insurance is equally important for growth of insurance in the country. Mian M. A. Shahid was addressing the 10th annual general meeting of SPI Insurance, which was attended by members of the board of directors and …

Read More »