Afghanistan

Axco provides details on the life insurance sector including Afghanistan market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
The report provides information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Afghanistan, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Afghanistan pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Afghanistan report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Summary & Trends

There is no significant volume of life insurance known to be marketed in Afghanistan; it is unlikely that very much life assurance will be transacted for some years. Reasons include the conservative nature of the country; a belief by many that oppose the validity of life insurance against the will of their religion; a lack of understanding of the benefits of insurance. Sharia-compliant banking does exist; however, there is very little demand for takaful insurance. In Life insurance. The size of the Afghan insurance market can only be estimated and penetration rates are unknown.

Summary & Trends

There are no known providers of private pensions in Afghanistan. The Afghanistan Pension Administration and Safety Net Project (APASNP) was a long-running endeavour to build infrastructure and capacity ...

Summary & Trends

Insurance Corporation of Afghanistan (ICA) advertises takaful products that it asserts are sharia-compliant so this component of its portfolio may allow it to trade under the new political regime once the wordings have been approved by the supervisor. Conventional insurance continues to be sold although increasingly on small sums insured which are capable of being absorbed into the net account as reinsurers exit the sector, according to market sources. Personal accident and group health are among the most active classes currently.