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Abstract
Insurance companies play an important role in the economic development of any country. Furthermore, the events which occur in the national and international environment also effect the insurance companies. The perfect examples of these events are the economic instability in Pakistan during period 2007 to 2009 and global financial crises 2008. Both events which occurred almost at the same time had put insurance companies in Pakistan in financial difficulty position. Consequently, significant number of insurance companies were delisted and suspended from Pakistan Stock Exchange (PSX). The current study applied a descriptive approach to explore the condition of insurance companies during economic instability in Pakistan and global financial crises.