Pakistan holds significant opportunities for the London market, according to the chairman of broker Besso, Michael Wade.
His comments follow a lunch that he hosted yesterday, where both the prime ministers of Pakistan and Britain were present.
Discussions at the lunch focussed on development in Pakistan and the role that Britain could play in that.
“The areas where Pakistan will develop, as its economy develops, will include construction risks. Those in turn will include casualty risks, as well as straight property construction. There are also energy risks, because of all sorts of movements of oil and gas, along with marine energy,” he says.
“They are also a trading country, particularly through Karachi, and there is a lot of trading going on that doesn’t really hit the insurance radar in London. This is where the opportunities lie for London Market brokers and insurers.”