Islamabad: Asian Development Bank has approved a policy-based loan worth seven hundred million dollars to support reforms in Pakistan's insurance sector.

According to Radio Pakistan, ADB Country Director for Pakistan, Emma Fan, stated that the insurance reform program aims to transform Pakistan's insurance sector from a legacy rules-based framework to a modern and market-oriented system.

She further explained that the program will expand financial protection for households and businesses, fostering a more competitive, inclusive, and resilient insurance market.