Skip to main content

SECP revises maximum management expense limits

The Securities and Exchange Commission of Pakistan while monitoring the insurance sector is also endeavouring to remove bottlenecks that hamper its growth and is attempting to bring it at par with international standards.

The SECP protects the interest of the policyholders and ensures that the companies have the ability to pay claims to consumers, even when there is a slowdown in investment growth.

Vide a previous circular, the Commission put a ceiling on life insurers and family takaful operators registered under the Insurance Ordinance 2000, in respect of management expense limits which include operating expenses, business acquisition costs i.e. commission to agents etc., ensuring that they are maintained at the optimum levels.

Recently, taking cognizance of the operational difficulties being faced by a few life insurance companies, the SECP has reviewed and prescribed new maximum management expense limits for two years, i.e., 2011 and 2012.

Whilst granting the relaxation, the SEC urged upon the life insurance and family takaful companies to focus on various cost-cutting measures viz. distribution channels, type of sales force, adopting internal controls on variable costs, etc.
Labels:

Comments

Post a Comment

Popular posts from this blog

Dr. Zeelaf Munir Calls for Supply Chain Reforms to Strengthen Pakistan’s Food Security at Breathe Pakistan 2026

  Karachi: At the recently held Breathe Pakistan 2026 conference, where EBM participated as the principal partner, the company’s Managing Director and CEO Dr. Zeelaf Munir emphasized the urgent need to rebuild Pakistan’s agricultural supply chain to ensure long-term food security and sustainable development. Addressing participants at the event, Dr. Zeelaf Munir stated that while initiatives such as improved seeds, affordable credit facilities, and crop insurance are important, they alone cannot transform the lives of smallholder farmers unless the supply chain that follows agricultural production is fundamentally restructured. She highlighted that Pakistan’s food security is being “made or lost” within the post-farm supply chain, stressing that inefficiencies in storage, transportation, distribution, and market access continue to limit the benefits reaching farmers and consumers alike. Dr. Munir further noted that the transformation required in Pakistan’s agri-food sector must ...
Post a Comment
Read more

Constitution, Justice and Public Trust Essential for National Unity: Speakers

Bazm-e-Mukalma Pakistan organized the 39th Professor Karrar Hussain Memorial Lecture with a question-and-answer session at Rabat Hall, Bahadurabad, on “Lack of National Unity: Causes and Remedies.” Speakers and senior analysts Syed Muzafar Ejaz and Mazhar Abbas said national unity could not be achieved through slogans alone, but required justice, equality, constitutional supremacy, democratic continuity and public trust. They highlighted religious, linguistic, provincial and class-based divisions as major challenges to national cohesion. Mazhar Abbas stressed the importance of institutions working within their constitutional limits, freedom of the press and respect for the people’s right to choose their representatives. The session concluded with an interactive question-and-answer session on national identity, constitutional supremacy, the political system, provincial grievances and the role of state institutions.
Post a Comment
Read more

China's port city Tianjin houses beautiful mosque

By Masood Sattar Khan (Pakistan News & Features Services) Tianjin, one the China’s busiest port cities and close to Beijing, has a beautiful masque sprawling on 1970 meters with all modern facilities for worshippers.  The famous Tianjin East Mosque is located in downtown at Ermalu Road in Nankai district. Tianjin is estimated to have around a Muslim population of 180,000.  The mosque was built anew in 2008 when it was relocated to shift for more spacious space to facilitate the local Muslims.  The new mosque is very beautiful with modern facilities thus the atmosphere becomes more comfortable for the worshippers. The walls of the main prayer hall are decorated with verses from Holy Quran.
Post a Comment
Read more