SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

Insurance Division
Non-Life Policy and Approvals Department

Circular No. 33 of 2025

Islamabad, December 03, 2025

SUBJECT: MOTOR INSURANCE REPOSITORY

The Securities and Exchange Commission of Pakistan in exercise of the powers conferred under Section 40B read with clause (u) of sub-section (4) and clause (fa), (fb) & (fc) of sub-section (6) of section 20 of the Securities and Exchange Commission of Pakistan Act 1997 (XLII of 1997), hereby directs all registered non-life insurers including takaful operators under the Insurance Ordinance, 2000 (XXXIX of 2000) which are engaged in the business of underwriting motor vehicles insurance to participate in Motor Insurance Repository and its functioning thereof;

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2. For the purpose of this circular:

a) “business of motor vehicles insurance” means contracts of insurance against loss to the policy holder arising from loss of or damage to, or arising out of an or in connection with the use of motor vehicles as covered under section 4(4)(b) and 4(4)(c) of Insurance Ordinance, 2000.

b) "Motor Insurance Repository (MIR)" means a centralized electronic database established in accordance with the Memorandum of Understanding (MOU) signed between the insurance companies/takaful operators and the Central Depository Company (CDC) to facilitate the storage, validation, and accessibility of motor vehicle insurance policy and claims data.

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3. All non-life insurers and general takaful operators, which are engaged in the business of underwriting of motor vehicles insurance shall:

i. Participate in the MIR by signing the Service Level Agreement (the “SLA”) with CDC within 60 days of issuance of this circular;

ii. Share information in respect of their motor insurance business with CDC directly or through technology service provider in accordance with the SLA as per agreed timelines. Subject to confidentiality of the data, CDC may share information with relevant stakeholders i.e. Federal and provincial Government authorities/department etc; as per the terms of SLA for the purpose of validation of insurance policies; and

iii. Ensure the accuracy, completeness, security, confidentiality, and integrity of all policyholder data shared, stored, transmitted or validated through the MIR in accordance with their respective SLA.

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Insurance Division, 3rd Floor, NIC Building, 63 Jinnah Avenue, Islamabad.
UAN: +92-51-111-117-327 PABX: +92-51-9195000-2, Fax: +92-51-9100496,
Web: www.secp.gov.pk
“Transparency, Innovation & Progress”

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SECURITIES & EXCHANGE COMMISSION OF PAKISTAN

NICL Building, 63 Jinnah Avenue, Islamabad
Continuation Sheet - 1 -

4. All non-life insurers including general takaful operators, which are not currently engaged in business of motor vehicle insurance as on issuance of this circular and any non-life insurers, including general takaful operators which shall be registered under the Insurance Ordinance, 2000 after the issuance of this circular shall share information in MIR as per terms of the SLA by signing SLA with CDC, as soon as they get registered and start the business of underwriting of motor vehicles insurance.

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Mujtaba Ahmad Lodhi
Commissioner – Insurance

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Distribution:

• Chief Executive Officers of all Non-Life Insurance Companies and General takaful operators
• Chairman (Insurance Association of Pakistan)
• Chief Executive Officer (Central Depository Company of Pakistan Limited)

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NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad
UAN: +92-51-111-117-327 PABX: +92-51-9195000-2, Fax: +92-51-9100496
Web: www.secp.gov.pk
Transparency, Innovation & Progress