Service overview
Insurance brokerage is a separate intermediary activity rather than an insurance-risk underwriting licence.
A company certificate does not itself authorise a regulated business. Depending on the activity, SECP may require prior formation permission, incorporation, a separate operational licence, and continuing financial and fit-and-proper compliance.
Who is eligible for Insurance Broker Licensing?
Applicants must meet insurance broker eligibility, professional competence, financial security and conflicts requirements.
Only an appropriately formed company satisfying insurance broker eligibility, professional competence, statutory deposit and professional indemnity requirements may undertake the broker's regulated functions.
Documents and information for Insurance Broker Licensing
Prepare the following information for insurance broker licensing. The relevant regulator may require further forms or certified evidence, depending on the applicant and chosen procedure.
- Brokerage plan
- Ownership and managers
- Professional licences and qualifications
- Required security/coverage
- Placement and compliance procedures.
How can I obtain Insurance Broker Licensing in Pakistan? — step-by-step guide
- 01Identify the appropriate application route and eligibility
First determine whether the proposed applicant and activity fall within this procedure. Applicants must meet insurance broker eligibility, professional competence, financial security and conflicts requirements. Review the separate conditions and exclusions in the eligibility section before submitting any form or payment.
- 02Prepare the application documents and evidence
Start with the particulars listed for this service: Brokerage plan; Ownership and managers; Professional licences and qualifications; Required security/coverage; Placement and compliance procedures.. Ensure the names, applicant identity and documents are consistent. The authority may require further supporting material under its current checklist.
- 03Check the current regulator instructions before filing
Refer to the regulator resource identified on this page (SECP insurance broker eligibility and application ↗). Reconfirm the currently prescribed forms, online or physical submission method, supporting evidence, fee and any current amendments. Do not assume that historic processing times or fees remain applicable.
- 04Confirm insurance-broker corporate qualification
Only a company may hold an insurance broker licence; verify required paid-up capital, professional indemnity and statutory deposit under SECP's current guide.
- 05Assemble rule 102 broker licensing disclosures
Prepare all directors and shareholders above the prescribed threshold, other activities, registered office, professional qualifications and mandatory declarations.
- 06Apply to SECP with signed corporate declaration
The insurance broker application and declaration must meet Insurance Ordinance section 102 requirements and be signed as prescribed.
- 07Operate within broker conditions
Keep professional indemnity, deposits, qualifications and annual renewal/current obligations.
- 08Keep the approval record and track ongoing obligations
After the authority has made its decision, retain the acknowledgement, correspondence, evidence of approval and any conditions attached to it. Maintain client disclosures, professional indemnity where required, records and renewals. Check whether separate approvals, renewals or reporting duties apply to the actual business.
Use the current regulator checklist to confirm that every listed item is still required and that any activity-specific conditions have been met. The items below are drawn from the document requirements identified on this page, not a representation that the checklist is exhaustive.
- Brokerage plan
- Ownership and managers
- Professional licences and qualifications
- Required security/coverage
- Placement and compliance procedures.
Before signing or paying, reconcile the particulars across Brokerage plan and Ownership and managers; check the applicant and business classification, identify the person authorised to submit, and retain a copy of the final application and official correspondence. Official instructions control if the portal or law has changed.
Regulator resource: SECP insurance broker eligibility and application
After registration or approval
Maintain client disclosures, professional indemnity where required, records and renewals.
Insurance brokerage licence, capital and conflicts
Primary-source research note. The following procedural analysis is based on the identified government or regulator sources. Confirm enacted amendments, applicable forms, fees and filing requirements on the date of submission. A consultation draft is not operative law merely because it has been published. This note does not represent final legal-editor certification of the entire guide.
Eligibility under insurance law
SECP's insurance broker licensing page identifies the Insurance Ordinance, 2000 section 102 and a corporate applicant requirement. Insurance brokerage is different from underwriting insurance risk as an insurer and from an agency appointment; a broker needs its own regulatory authorisation.
Licence evidence
The official list requests company incorporation and constitutional documents, director and shareholder information, paid-up capital verification, statutory deposit, professional indemnity evidence, a feasibility and business plan, relevant personnel experience and declarations. It also identifies insurer support letters and a no-conflict restriction between insurers and brokers. Check the current equivalent of any superseded company forms.
Continuing conditions
SECP describes an initial one-year licence with annual renewal and grounds for refusal or cancellation. Maintain professional indemnity, financial and ownership records, complaint-handling, client and insurer contracts, commissions and regulatory notices as required.
Currency of charges
Older published fee or capital figures are not necessarily current after rule amendments. Reconcile the Insurance Ordinance, the latest insurance rules and the issued licence before stating financial thresholds or renewal procedure.
Official legal and regulatory sources
Governing law & official references
Insurance Ordinance, 2000, applicable insurance intermediary/insurance company regulations and Takaful rules where relevant.
The links below lead to government or official regulatory sources relevant to this service. Use the currently consolidated Act, regulations, statutory checklist and official portal when making an application.
How Chambers can assist
Chambers can review the legal route, identify regulatory constraints, prepare or review the supporting corporate and legal documents, manage the prescribed submission and correspond with the competent authority where instructed. The scope of the engagement will be determined by the applicant’s particular circumstances.
For an initial enquiry, identify the proposed activity, applicant entity and current stage, and provide the available documents indicated above. Please avoid sending confidential or identity-sensitive records through an unencrypted first contact.
Common questions about Insurance Broker Licensing
Who is eligible for Insurance Broker Licensing in Pakistan?
Applicants must meet insurance broker eligibility, professional competence, financial security and conflicts requirements.
What documents are needed for Insurance Broker Licensing?
Brokerage plan; Ownership and managers; Professional licences and qualifications; Required security/coverage. Additional requirements can apply to the actual business or regulator.
How can I obtain Insurance Broker Licensing in Pakistan?
Confirm insurance-broker corporate qualification: Only a company may hold an insurance broker licence; verify required paid-up capital, professional indemnity and statutory deposit under SECP's current guide. Assemble rule 102 broker licensing disclosures: Prepare all directors and shareholders above the prescribed threshold, other activities, registered office, professional qualifications and mandatory declarations. Apply to SECP with signed corporate declaration: The insurance broker application and declaration must meet Insurance Ordinance section 102 requirements and be signed as prescribed. Operate within broker conditions: Keep professional indemnity, deposits, qualifications and annual renewal/current obligations.
This guide is general information, not advice on your facts. Check the applicable law, notifications, updated regulator checklists and jurisdiction before acting. The authority alone determines eligibility, acceptance and approval; no outcome or processing period is guaranteed.