Djibouti Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The Djibouti insurance market size reached US$ 28.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.9 Million by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Insurance stands for a contractual arrangement offered by a firm providing a guarantee of reimbursement for any specified loss or damage. It provides financial protection and hedges the risks of any uncertain incidents. The Djibouti insurance market includes both life and non-life insurance (automobile, marine insurance, liability, others) policies. The insurance sector in the country is regulated by the insurance directorate at the Ministry of Economy and Finance.
The Djibouti insurance sector is expected to grow at a considerable pace owing to the improving socio-economic growth of the country, increasing penetration of international insurance companies, the launch of governmental insurance policies, and the bolstering port activities in the region. The Port of Djibouti is strategically located at the crossroads of one of the busiest shipping routes in the world, linking Europe, the Far East, the Horn of Africa, and the Persian Gulf, thereby propelling the trade activities. In Djibouti, the motor and cargo insurance has been made compulsory by the authorities; for instance, the COMESA Yellow Card Scheme is integrated with the regional network of automobile insurance companies, thereby bolstering the demand for non-life insurance policies. Additionally, the increasing disposable income levels, supported by several government insurance policies, are expected to propel the development of the personal insurance sector that will contribute to the overall insurance market in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Djibouti insurance market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on type.
Breakup by Type:
Life Insurance
Non-life Insurance
Automobile Insurance
Fire Insurance
Marine & Cargo Insurance
Liability Insurance
Other Insurance
Competitive Landscape:
The report has also examined the competitive landscape of the market and some of the key players include AMERGA Assurance and GXA Assurances SA.
Key Questions Answered in This Report:
How has the Djibouti insurance market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Djibouti insurance market?
What is the breakup of the Djibouti insurance market based on the type?
What is the breakup of the Djibouti non-life insurance market based on the type?
What are the key driving factors and challenges in the Djibouti insurance market?
What is the structure of the Djibouti insurance market and who are the key players?
What is the degree of competition in the Djibouti insurance market?
What is the market share of key players in the Djibouti insurance market?
The Djibouti insurance market size reached US$ 28.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.9 Million by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Insurance stands for a contractual arrangement offered by a firm providing a guarantee of reimbursement for any specified loss or damage. It provides financial protection and hedges the risks of any uncertain incidents. The Djibouti insurance market includes both life and non-life insurance (automobile, marine insurance, liability, others) policies. The insurance sector in the country is regulated by the insurance directorate at the Ministry of Economy and Finance.
The Djibouti insurance sector is expected to grow at a considerable pace owing to the improving socio-economic growth of the country, increasing penetration of international insurance companies, the launch of governmental insurance policies, and the bolstering port activities in the region. The Port of Djibouti is strategically located at the crossroads of one of the busiest shipping routes in the world, linking Europe, the Far East, the Horn of Africa, and the Persian Gulf, thereby propelling the trade activities. In Djibouti, the motor and cargo insurance has been made compulsory by the authorities; for instance, the COMESA Yellow Card Scheme is integrated with the regional network of automobile insurance companies, thereby bolstering the demand for non-life insurance policies. Additionally, the increasing disposable income levels, supported by several government insurance policies, are expected to propel the development of the personal insurance sector that will contribute to the overall insurance market in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Djibouti insurance market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on type.
Breakup by Type:
Life Insurance
Non-life Insurance
Automobile Insurance
Fire Insurance
Marine & Cargo Insurance
Liability Insurance
Other Insurance
Competitive Landscape:
The report has also examined the competitive landscape of the market and some of the key players include AMERGA Assurance and GXA Assurances SA.
Key Questions Answered in This Report:
How has the Djibouti insurance market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Djibouti insurance market?
What is the breakup of the Djibouti insurance market based on the type?
What is the breakup of the Djibouti non-life insurance market based on the type?
What are the key driving factors and challenges in the Djibouti insurance market?
What is the structure of the Djibouti insurance market and who are the key players?
What is the degree of competition in the Djibouti insurance market?
What is the market share of key players in the Djibouti insurance market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 EXECUTIVE SUMMARY
4 DJIBOUTI INSURANCE SECTOR OVERVIEW
4.1Country Overview
4.2Djibouti Key Statistics
4.3Future Outlook
4.4Geographic & Demographic Environment
4.4.1 Geography
4.4.2 Population
4.4.3 Djibouti Top Seven Cities by Population
4.4.4 Djibouti Population Forecast
4.5Taxes in Djibouti
4.5.1 Income Tax
4.5.2 Minimum Tax
4.5.3 Rates
4.6Insurance Sector Overview
4.7Insurance Sector Key Statistics
4.8Insurance Sector Ratios
4.9Insurance Sector Constraints
4.10Djibouti Insurance Law
4.10.1 Overview
4.10.2 Insurance Laws
4.10.3 Takaful Law
5 DJIBOUTI INSURANCE MARKET
5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Breakup by Type
5.4.1 Non-Life Insurance
5.4.1.1 Market Trends
5.4.1.2 Non-Life Insurance Market: Breakup by Type
5.4.1.2.1 Automobile Insurance
5.4.1.2.1.1 Market Trends
5.4.1.2.1.2 Market Forecast
5.4.1.2.2 Fire Insurance
5.4.1.2.2.1 Market Trends
5.4.1.2.2.2 Market Forecast
5.4.1.2.3 Marine and Cargo Insurance
5.4.1.2.3.1 Market Trends
5.4.1.2.3.2 Market Forecast
5.4.1.2.4 Liability Insurance
5.4.1.2.4.1 Market Trends
5.4.1.2.4.2 Market Forecast
5.4.1.2.5 Other Insurance
5.4.1.2.5.1 Market Trends
5.4.1.2.5.2 Market Forecast
5.4.1.3 Market Forecast
5.4.2 Life Insurance
5.4.2.1 Market Trends
5.4.2.2 Market Forecast
5.5Market Forecast
6 SWOT ANALYSIS
6.1Overview
6.2Strengths
6.3Weaknesses
6.4Opportunities
6.5Threats
7 PORTERS FIVE FORCES ANALYSIS
7.1Overview
7.2Bargaining Power of Buyers
7.3Bargaining Power of Suppliers
7.4Degree of Competition
7.5Threat of New Entrants
7.6Threat of Substitutes
8 COMPETITIVE LANDSCAPE
8.1Market Structure
8.2 Market Share
8.3 Key Players Profile
8.3.1 AMERGA Assurance
8.3.1.1 Company Overview
8.3.1.2 Product Portfolio
8.3.1.3 Financials
8.3.1.4 SWOT Analysis
8.3.2 GXA Assurances SA
8.3.2.1 Company Overview
8.3.2.2 Product Portfolio
8.3.2.3 Financials
8.3.2.4 SWOT Analysis
2 SCOPE AND METHODOLOGY
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 EXECUTIVE SUMMARY
4 DJIBOUTI INSURANCE SECTOR OVERVIEW
4.1Country Overview
4.2Djibouti Key Statistics
4.3Future Outlook
4.4Geographic & Demographic Environment
4.4.1 Geography
4.4.2 Population
4.4.3 Djibouti Top Seven Cities by Population
4.4.4 Djibouti Population Forecast
4.5Taxes in Djibouti
4.5.1 Income Tax
4.5.2 Minimum Tax
4.5.3 Rates
4.6Insurance Sector Overview
4.7Insurance Sector Key Statistics
4.8Insurance Sector Ratios
4.9Insurance Sector Constraints
4.10Djibouti Insurance Law
4.10.1 Overview
4.10.2 Insurance Laws
4.10.3 Takaful Law
5 DJIBOUTI INSURANCE MARKET
5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Breakup by Type
5.4.1 Non-Life Insurance
5.4.1.1 Market Trends
5.4.1.2 Non-Life Insurance Market: Breakup by Type
5.4.1.2.1 Automobile Insurance
5.4.1.2.1.1 Market Trends
5.4.1.2.1.2 Market Forecast
5.4.1.2.2 Fire Insurance
5.4.1.2.2.1 Market Trends
5.4.1.2.2.2 Market Forecast
5.4.1.2.3 Marine and Cargo Insurance
5.4.1.2.3.1 Market Trends
5.4.1.2.3.2 Market Forecast
5.4.1.2.4 Liability Insurance
5.4.1.2.4.1 Market Trends
5.4.1.2.4.2 Market Forecast
5.4.1.2.5 Other Insurance
5.4.1.2.5.1 Market Trends
5.4.1.2.5.2 Market Forecast
5.4.1.3 Market Forecast
5.4.2 Life Insurance
5.4.2.1 Market Trends
5.4.2.2 Market Forecast
5.5Market Forecast
6 SWOT ANALYSIS
6.1Overview
6.2Strengths
6.3Weaknesses
6.4Opportunities
6.5Threats
7 PORTERS FIVE FORCES ANALYSIS
7.1Overview
7.2Bargaining Power of Buyers
7.3Bargaining Power of Suppliers
7.4Degree of Competition
7.5Threat of New Entrants
7.6Threat of Substitutes
8 COMPETITIVE LANDSCAPE
8.1Market Structure
8.2 Market Share
8.3 Key Players Profile
8.3.1 AMERGA Assurance
8.3.1.1 Company Overview
8.3.1.2 Product Portfolio
8.3.1.3 Financials
8.3.1.4 SWOT Analysis
8.3.2 GXA Assurances SA
8.3.2.1 Company Overview
8.3.2.2 Product Portfolio
8.3.2.3 Financials
8.3.2.4 SWOT Analysis
LIST OF TABLES
Table 1: Djibouti: Macro Poverty Outlook Indicators
Table 2: Djibouti: Population
Table 3: Djibouti: Top Seven Cities by Population
Table 4: Djibouti: Population Forecast
Table 5: Djibouti: Income Tax
Table 6: Djibouti: Rates of Resident Companies
Table 7: Djibouti: Rates of Resident Individuals
Table 8: Djibouti: Rates of Non-Resident Companies
Table 9: Djibouti: Insurance Industry: Sector Ratios, 2022
Table 10: Djibouti: Insurance Market: Key Industry Highlights, 2022 and 2028
Table 11: Djibouti: Insurance Industry: Competitive Structure
Table 1: Djibouti: Macro Poverty Outlook Indicators
Table 2: Djibouti: Population
Table 3: Djibouti: Top Seven Cities by Population
Table 4: Djibouti: Population Forecast
Table 5: Djibouti: Income Tax
Table 6: Djibouti: Rates of Resident Companies
Table 7: Djibouti: Rates of Resident Individuals
Table 8: Djibouti: Rates of Non-Resident Companies
Table 9: Djibouti: Insurance Industry: Sector Ratios, 2022
Table 10: Djibouti: Insurance Market: Key Industry Highlights, 2022 and 2028
Table 11: Djibouti: Insurance Industry: Competitive Structure
LIST OF FIGURES
Figure 1: Djibouti: GDP (Current Prices), in Billion US$, 2017-2022
Figure 2: Djibouti: GDP Per Capita, in US$, 2017 & 2022
Figure 3: Djibouti: Insurance Premium Per Capita, in US$, 2017 & 2022
Figure 4: Djibouti: Insurance Premium as Percentage of GDP, in US$, 2022
Figure 5: Djibouti: Insurance Policy Holders and Claims Received, 2022
Figure 6: Djibouti: Insurance Market CAGR (%)
Figure 7: Djibouti: Insurance Market: Sales Value (in Million US$), 2017-2022
Figure 8: Djibouti: Insurance Market: Breakup by Type (in %), 2022
Figure 9: Djibouti: Non-Life Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Djibouti: Non-Life Insurance Market: Breakup by Type (in %), 2022
Figure 11: Djibouti: Automobile Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Djibouti: Automobile Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Djibouti: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Djibouti: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Djibouti: Marine and Cargo Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Djibouti: Marine and Cargo Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Djibouti: Liability Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Djibouti: Liability Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Djibouti: Others Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Djibouti: Others Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Djibouti: Non-Life Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Djibouti: Life Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Djibouti: Life Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Djibouti: Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Djibouti: Insurance Industry: SWOT Analysis
Figure 26: Djibouti: Insurance Industry: Porter’s Five Forces Analysis
Figure 27: Djibouti: Insurance Market: Key Players Share
Figure 1: Djibouti: GDP (Current Prices), in Billion US$, 2017-2022
Figure 2: Djibouti: GDP Per Capita, in US$, 2017 & 2022
Figure 3: Djibouti: Insurance Premium Per Capita, in US$, 2017 & 2022
Figure 4: Djibouti: Insurance Premium as Percentage of GDP, in US$, 2022
Figure 5: Djibouti: Insurance Policy Holders and Claims Received, 2022
Figure 6: Djibouti: Insurance Market CAGR (%)
Figure 7: Djibouti: Insurance Market: Sales Value (in Million US$), 2017-2022
Figure 8: Djibouti: Insurance Market: Breakup by Type (in %), 2022
Figure 9: Djibouti: Non-Life Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Djibouti: Non-Life Insurance Market: Breakup by Type (in %), 2022
Figure 11: Djibouti: Automobile Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Djibouti: Automobile Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Djibouti: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Djibouti: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Djibouti: Marine and Cargo Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Djibouti: Marine and Cargo Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Djibouti: Liability Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Djibouti: Liability Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Djibouti: Others Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Djibouti: Others Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Djibouti: Non-Life Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Djibouti: Life Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Djibouti: Life Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Djibouti: Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Djibouti: Insurance Industry: SWOT Analysis
Figure 26: Djibouti: Insurance Industry: Porter’s Five Forces Analysis
Figure 27: Djibouti: Insurance Market: Key Players Share
