The insurance industry in Pakistan is holding consultations to reassess underwriting policies, review reinsurance arrangements and ensure insurers maintain adequate solvency levels, according to Mr Mohammad Raza, Non-Life Committee and Property Committee member of the Insurance Association of Pakistan (IAP).
The Joint War Committee (JWC), which counts syndicate members from Lloyd's in its ranks, as well as representatives from the London insurance market, has listed the waters around Bahrain, Djibouti, Kuwait, Oman and Qatar as high-risk areas, according to a JWC Circular.
Pakistan's takaful industry is entering a new phase of scale and sophistication this year, underpinned by strong asset growth, rising investor confidence and product innovation tailored to the country's economic realities.
Pakistan's Securities and Exchange Commission (SECP) has greenlit Jazz International Holding Limited's acquisition of a controlling stake in TPL Insurance Limited.
Pak Qatar General Takaful made its trading debut on the main board of the Pakistan Stock Exchange (PSX) yesterday.
The insurance industry will receive special attention as Dr Kabir Ahmed Sidhu has formally assumed charge as Chairman of the Securities and Exchange Commission of Pakistan (SECP), which is the primary regulator of Pakistan's corporate sector, capital markets, and non-banking financial institutions.
Pak Qatar General Takaful's (PQGTL) initial public offering (IPO) is at least 10 times oversubscribed with the insurer receiving applications for 410.5m shares compared to the issue size of 30m.
Pak-Qatar General Takaful Limited (PQGTL), Pakistan's first non-life Shariah-compliant operator, has announced that its initial public offering (IPO) has been oversubscribed at the Pakistan Stock Exchange (PSX).
Pakistan's regulator, the Securities and Exchange Commission of Pakistan, has notified legislative amendments to facilitate capital raising by listed companies, while maintaining adequate disclosure requirements for investors.
Pak-Qatar General Takaful (PQGTL) announced yesterday that it would launch its Initial Public Offering (IPO) next week to raise up to PKR420m ($1.5m).