8 insurance sector review 1 overview of recent developments the industry plays a significant role in growing economy terms providing indemnification risks faced by both individuals and companies addition to being an institutional investor see box year 2004 continued reap benefits sustained gdp growth increased economic activities especially industrial consumer finance sectors moreover regulatory requirements set forth securities exchange commission pakistan secp also strengthened financial soundness as reflected paid up capital base six that were unable meet requirement remain suspended from undertaking new business three started non life one these offers islamic facilities 2 total assets have seen consistent improvement since cy01 with average over 14 5 percent last four years figure has shown faster 16 cy04 compared 6
