Pakistan News

    State Life Insurance Pakistan Halal

  • Guidelines for non-life insurance firms issued

    ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) issued guidelines for non-life insurance companies on methodology for estimation of ‘Incurred But Not Reported’ (IBNR) claims...

    IBNR refers to those claims which have been incurred during the period covered by the insurance policy, but have not been reported to the company during the accounting year, hence making it difficult for the firm to adequately provide for...

  • Upbeat non-life insurance sector

    HELPED by an improving economy and new methodology for assessing incurred-but-not-reported claims, the non-life insurance business eyes a promising future...

    Executives of insurance companies say the Securities and Exchange Commission of Pakistan’s (SECP) new guidelines on IBNR will help them eventually reduce their claims ratio by capturing a correct picture of net premium earnings after standardised provisioning against backlog of...

  • Non-life insurance companies poised for diversified growth

    HAVING achieved a market capitalisation of Rs127bn, the non-life or general insurance companies are poised for further growth...

    From the traditional underwriting in marine, fire and motor, most general insurance companies have launched new products to capture a bigger share of a competitive market...

  • Private life insurance companies end SLIC dominance

    A LITTLE-known fact about the life insurance business in Pakistan is that the government-owned State Life Insurance Company of Pakistan is no more the dominating player in the sector...

    Two years ago SLIC still had a slightly bigger share (57pc) in the pie; today it is divided right through the centre: 50pc with SLIC and 50pc wrested by the 7-8 private insurance companies...

  • Centralised repository for life insurance sector

    ISLAMABAD: To complement government objective of providing ease of doing business and enhanced consumer protection, the Securities and Exchange Commission of Pakistan (SECP) on Monday launched first-ever centralised information repository for life insurance sector...

    The repository will function under the SECP and host critical data on life insurance policies...

  • Pakistan plans to boost export of halal products

    ISLAMABAD: Fruity sweets and packets of chicken soup that fall foul of halal laws are disappearing from shop counters as Pakistan looks to clean up its Islamic food credentials to boost exports to Gulf states...

    At the start of the year the government published a list of around 20 imported food products it said were not halal, or permitted under Islamic law...

  • Sweets and soup vanish as Pakistan aims for halal export boost

    ISLAMABAD: Fruity sweets and packets of chicken soup that fall foul of halal laws are disappearing from Pakistan's shop counters as the country looks to clean up its Islamic food credentials to boost exports to rich Gulf states...

    At the start of the year the government published a list of around 20 imported food products it said were not halal, or permitted under Islamic law...

  • UAE allows Pakistan to ship halal products via sea

    LAHORE: The United Arab Emirates (UAE) has allowed transportation of halal products from Pakistan via sea which would bring down freight cost by one third, Punjab Halal Development Agency (PHDA) Chairman Justice (retired) Khalil-ur-Reman Khan said on Tuesday...

    He was addressing foreign delegates and local businessmen in the 6th International Halal Conference held at the Lahore Chamber of Commerce and Industry (LCCI)...

  • ‘Malaysia for more halal business with Pakistan’

    LAHORE: Malaysia wants to increase the volume of halal business with Pakistan with the help of local business community, said senior Malaysian educationist Dr Syed Jalaludin bin Syed Salim on Friday...

    He was addressing the ‘Halal Business Projection’ seminar organised by the Punjab Halal Development Agency (PHDA)...

  • Without insurance, Harvey's victims turn toward the state

    Hurricane Harvey's devastation will be among the costliest of any storm in US history but, with most not covered by insurance, victims are left hoping for government aid and community support...

    But in federally designated US flood zones, only 12 per cent of home owners are covered by flood insurance, according to the Insurance Information Institute...

  • Sitcom 'Halal in the Family' explores being Muslim in America

    Called "that rarest of things in popular entertainment, a sympathetic Muslim family at the center of its own show," by The New York Times, web series Halal in the Family went live last week, showing audiences the lighter side of being Muslim in America...

    Aired on website Funny or Die Halal in the Family was conceived of by actor-comedian Aasif Mandvi and his writing partner from popular late night show The Daily Show, Miles Kahn... ...

  • China detains 11 for smashing halal food shop

    BEIJING: Police in western China detained 11 people after a crowd of angry customers in early May smashed a halal shop suspected of mishandling food prepared according to Islamic custom, state media said...

    A group of “law-breakers” in Xining, the capital of Qinghai province, broke into a store on May 1 and vandalised it after discovering that non-halal foods had been transported along with halal products, a violation of...

  • Poultry sector vies for piece of global halal pie

    While policymakers in Pakistan may have, time and again, committed themselves to pursuing an export-led plan for rapid economic growth and reduction in the country’s external account vulnerabilities, no government has ever formulated an effective policy to boost exports...

    Owing to a policy emphasis on import substitution, Pakistan’s export base remains narrow and skewed in favour of textiles and clothing, which have historically...

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