KARACHI: Do a high number of companies in an industry invariably lead to more competition, efficiency and overall growth? In theory, it may be true, but not so in practice.
Despite a high number of players, growth in Pakistan’s non-life insurance industry remains stunted. In contrast with India, where only 27 non-life insurance companies operate, there were as many as 30 companies registered with the Insurance Association of Pakistan (IAP) at the end of calendar year 2011 – the latest
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