Pakistan's insurance sector key to financial stability: SECP Chairman

February 11, 2025 (MLN): Pakistan's insurance sector holds immense potential to drive financial inclusion and economic stability, a fact emphasized by SECP Chairman Mr. Akif Saeed.

This was highlighted during a media engagement arranged by the Securities and Exchange Commission of Pakistan (SECP) ahead of the upcoming InsureImpact Conference Pakistan 2025.

Scheduled for February 12, 2025, at Marriott Hotel, Karachi, the conference is themed "Fostering Collaboration, Engagement & Innovation Journey to an Insured Pakistan."

It will bring together key stakeholders, including policymakers, regulators, industry leaders, and development partners, to discuss the future of Pakistan’s insurance sector, according to the press release.

Mr. Saeed reaffirmed SECP's commitment to fostering an enabling environment through regulatory reforms, digital transformation, and stakeholder engagement to unlock this potential.

Speaking ahead of the conference at a media workshop, he emphasized the critical role of insurance in enhancing financial security, economic resilience, and risk mitigation.

Commissioner Insurance, SECP, Mr. Mujtaba Ahmad Lodhi, highlighted SECP’s efforts in modernizing insurance regulations, strengthening mandatory insurance enforcement, and enhancing industry oversight.

Director Insurance, Mr. Waseem Khan, delivered a brief presentation on the major developments since the International InsureImpact Conference in 2023.

These included the launch of a 5-year plan, outreach and consultation with provincial authorities, identification of potential areas of growth, and significant regulatory developments.

The InsureImpact Conference 2025 will serve as a platform for policy dialogue, industry collaboration, and innovation, shaping the future of insurance in Pakistan.

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