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done These data provide a comprehensive overview of the performance of the insurance industry and will be helpful in keeping stakeholders informed. In addition, these data serve as an effective measurement tool to determine performance standards over time. Will work on.
According to the report, life insurance receives 64% of the total premiums of the industry. In 2023, the assets of this industry increased from 2421 billion to 2900 billion. 631 billion were collected in terms of premium, which is an increase of 14% compared to last year. Year 2023 The amount of claims paid in 2022 was 373 billion which is 276 billion in 2022.
In this amount, the share of life insurance is 289 billion. Commissioner Insurance, Aamir Khan in his message highlighted the important steps taken to deal with the challenges facing the insurance sector.
These include adoption of a 5-year strategic plan by insurers, support of the federal government in the implementation of legal reforms, implementation of mandatory and essential insurance schemes at the provincial level and facilitation of regulatory approval by the SECP. As in the previous two years, the insurance industry figures for 2023 are based on data submitted by insurance companies. #
