Insurance in Nigeria
Insurance in Nigeria
Summary
Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
Summary
Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The insurance market consists of the non-life and life insurance sectors. The value of the market is shown in terms of gross premium incomes.
- The Nigerian insurance market is expected to generate total gross written premiums of $1.3bn in 2020, representing a compound annual growth rate (CAGR) of 10.5% between 2016 and 2020.
- The life insurance segment is expected to be the market's most lucrative in 2020, with total gross written premiums of $0.7bn, equivalent to 52.8% of the market's overall value.
- One of the main drivers of insurance spending is consumer confidence.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Nigeria
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Nigeria
- Leading company profiles reveal details of key insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria insurance market with five year forecasts by both value and volume
- What was the size of the Nigeria insurance market by value in 2020?
- What will be the size of the Nigeria insurance market in 2025?
- What factors are affecting the strength of competition in the Nigeria insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Nigeria's insurance market?
1 EXECUTIVE SUMMARY
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What is the rationale for the recent M&A activity?
7.5. How the COVID-19 outbreak has impacted the sector?
8 COMPANY PROFILES
8.1. Leadway Assurance Company Ltd
8.2. Aiico Insurance PLC
8.3. Cornerstone Insurance Plc
8.4. Custodian Investment PLC
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What is the rationale for the recent M&A activity?
7.5. How the COVID-19 outbreak has impacted the sector?
8 COMPANY PROFILES
8.1. Leadway Assurance Company Ltd
8.2. Aiico Insurance PLC
8.3. Cornerstone Insurance Plc
8.4. Custodian Investment PLC
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
LIST OF TABLES
Table 1: Nigeria insurance market value: $ billion, 2016-20(e)
Table 2: Nigeria insurance market category segmentation: $ billion, 2020(e)
Table 3: Nigeria insurance market geography segmentation: $ billion, 2020(e)
Table 4: Nigeria insurance market value forecast: $ billion, 2020-25
Table 5: Nigeria insurance market share: % share, by value, 2020(e)
Table 7: Leadway Assurance Company Ltd: Key Employees
Table 9: Aiico Insurance PLC: Key Employees
Table 11: Cornerstone Insurance Plc: Key Employees
Table 13: Custodian Investment PLC: Key Employees
Table 14: Nigeria size of population (million), 2016-20
Table 15: Nigeria gdp (constant 2005 prices, $ billion), 2016-20
Table 16: Nigeria gdp (current prices, $ billion), 2016-20
Table 17: Nigeria inflation, 2016-20
Table 18: Nigeria consumer price index (absolute), 2016-20
Table 19: Nigeria exchange rate, 2015-18
Table 1: Nigeria insurance market value: $ billion, 2016-20(e)
Table 2: Nigeria insurance market category segmentation: $ billion, 2020(e)
Table 3: Nigeria insurance market geography segmentation: $ billion, 2020(e)
Table 4: Nigeria insurance market value forecast: $ billion, 2020-25
Table 5: Nigeria insurance market share: % share, by value, 2020(e)
Table 7: Leadway Assurance Company Ltd: Key Employees
Table 9: Aiico Insurance PLC: Key Employees
Table 11: Cornerstone Insurance Plc: Key Employees
Table 13: Custodian Investment PLC: Key Employees
Table 14: Nigeria size of population (million), 2016-20
Table 15: Nigeria gdp (constant 2005 prices, $ billion), 2016-20
Table 16: Nigeria gdp (current prices, $ billion), 2016-20
Table 17: Nigeria inflation, 2016-20
Table 18: Nigeria consumer price index (absolute), 2016-20
Table 19: Nigeria exchange rate, 2015-18
LIST OF FIGURES
Figure 1: Nigeria insurance market value: $ billion, 2016-20(e)
Figure 2: Nigeria insurance market category segmentation: % share, by value, 2020(e)
Figure 3: Nigeria insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: Nigeria insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the insurance market in Nigeria, 2020
Figure 6: Drivers of buyer power in the insurance market in Nigeria, 2020
Figure 7: Drivers of supplier power in the insurance market in Nigeria, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Nigeria, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in Nigeria, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in Nigeria, 2020
Figure 11: Nigeria insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Leadway Assurance Company Ltd
Aiico Insurance PLC
Cornerstone Insurance Plc
Custodian Investment PLC
Figure 1: Nigeria insurance market value: $ billion, 2016-20(e)
Figure 2: Nigeria insurance market category segmentation: % share, by value, 2020(e)
Figure 3: Nigeria insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: Nigeria insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the insurance market in Nigeria, 2020
Figure 6: Drivers of buyer power in the insurance market in Nigeria, 2020
Figure 7: Drivers of supplier power in the insurance market in Nigeria, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Nigeria, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in Nigeria, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in Nigeria, 2020
Figure 11: Nigeria insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Leadway Assurance Company Ltd
Aiico Insurance PLC
Cornerstone Insurance Plc
Custodian Investment PLC