Observer Report Islamabad
The China-Pakistan Economic Corridor (CPEC) provides huge opportunities to the Pakistani insurance industry to grow, said a top Pakistan-China trade body, according to Gwadar Pro.
In a virtual meeting of Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI)’s Executive Committee, PCJCCI President Wang Zihai emphasized that Pakistan’s Insurance Industry has great potential in the wake of forthcoming CPEC labor projects.
“The Chinese companies are interested in investing in this sector too,” he added. Wang Zihai observed that Chinese investment in Pakistan’s insurance industry would bring China-styled reforms in the sector, which would prove to be a vigorous tool in the economic mobility of Pakistan.
He indicated that there was a great potential available in Pakistan in the insurance sector, which had magnified further in the scenario of CPEC and would be a new sector of collaboration between China and Pakistan.
PCJCCI’s Senior Vice President Ehsan Choudhry Ehsan Choudhry noted that according to financial statistics, the phenomenal growth of Pakistani life insurance companies had been maintained at 55 percent and 70 percent in terms of net premium and assets.
