The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022

Date: June 30, 2018
Pages: 134
Price:
US$ 1,450.00
License [?]:
Publisher: GlobalData
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: I41008FE9ECEN
Leaflet:

Download PDF Leaflet

The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022
The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022

SUMMARY

This report provides detailed analysis of the market trends, drivers and challenges in the Burkinabé insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Burkinabé economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

GlobalData’s 'The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Burkinabé insurance industry, including -
  • The Burkinabé insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Burkinabé economy and demographics
  • Details of the competitive landscape in the Burkinabé insurance industry
  • The various distribution channels in the Burkinabé insurance industry
  • Details of regulatory policy applicable to the Burkinabé insurance industry
  • Analysis of natural hazards in the Burkinabé insurance industry.
KEY HIGHLIGHTS
  • Mobile network operators (MNOs) and microfinance institutions (MFIs) are playing an instrumental role in the development of microinsurance in Burkina Faso.
  • On September 5, 2015, the government of Burkina Faso introduced a universal health insurance system (AMU) to offer health cover to the domestic population.
  • Based on the approval of the regulatory authority, the Conférence Interafricaine des Marchés d'Assurances (CIMA) Code allows up to 50% of any reinsurance risk to be placed abroad, and more than 50% of risk with unlicensed overseas reinsurers.
SCOPE
  • This report provides a comprehensive analysis of the insurance industry in Burkina Faso.
  • It provides historical values for the Burkinabé insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
  • It offers a detailed analysis of the key segments in the Burkinabé insurance industry, with market forecasts to 2022.
  • It covers an exhaustive list of parameters, including written premium and claims.
  • It analyzes the various distribution channels in Burkina Faso.
  • It profiles the top insurance companies in Burkina Faso and outlines the key regulations affecting them.
REASONS TO BUY
  • Make strategic business decisions using in-depth historic and forecast market data related to the Burkinabé insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Burkinabé insurance industry.
  • Assess the competitive dynamics in the Burkinabé insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Burkinabé insurance industry and their impact on companies and the industry's future.


NOTE: Out of security concerns GlobalData requires using corporate email address.
1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHICS

4 INDUSTRY OUTLOOK

4.1 Industry Indicators
  4.1.1 Direct written premium
  4.1.2 Insurance density
  4.1.3 Paid claims

5 LIFE INSURANCE OUTLOOK

5.1 Segment Indicators
  5.1.1 Direct written premium
  5.1.2 Paid claims
  5.1.3 Penetration
  5.1.4 Assets and investments

6 GENERAL INSURANCE OUTLOOK

6.1 Segment Indicators
  6.1.1 Gross written premium
  6.1.2 Direct written premium
  6.1.3 Paid claims
  6.1.4 Penetration
  6.1.5 Loss ratio
  6.1.6 Assets and investments
6.2 Property Insurance
  6.2.1 Direct written premium
  6.2.2 Penetration
  6.2.3 Profitability
6.3 Motor Insurance
  6.3.1 Direct written premium
  6.3.2 Penetration
  6.3.3 Profitability
6.4 Liability Insurance
  6.4.1 Direct written premium
  6.4.2 Penetration
  6.4.3 Profitability
6.5 Marine, Aviation and Transit Insurance
  6.5.1 Direct written premium
  6.5.2 Penetration
  6.5.3 Profitability
6.6 Personal Accident and Health Insurance
  6.6.1 Direct written premium
  6.6.2 Penetration
  6.6.3 Profitability
6.7 Miscellaneous
  6.7.1 Direct written premium
  6.7.2 Penetration
  6.7.3 Profitability

7 REINSURANCE OUTLOOK

7.1 Premium Ceded

8 DISTRIBUTION CHANNEL OUTLOOK

9 NATURAL AND MAN-MADE HAZARDS

9.1 Flooding
9.2 Droughts
9.3 Man Made Hazards
9.4 Epidemics
9.5 Exposure

10 COMPETITIVE LANDSCAPE

10.1 Company Profiles
  10.1.1 Societe Nationale d'Assurances et de Reassurances - company overview
  10.1.2 Union Des Assurances Du Burkina - company overview
  10.1.3 Allianz Burkina Assurance - company overview
  10.1.4 Saham Assurance - company overview
  10.1.5 Generale des Assurances - company overview

11 GOVERNANCE, RISK AND COMPLIANCE

11.1 Legislation Overview and Historical Evolution
11.2 Latest Changes in Regulation
11.3 Legislation and Market Practice by Type of Insurance
  11.3.1 Life insurance
  11.3.2 Property insurance
  11.3.3 Motor insurance
  11.3.4 Liability insurance
  11.3.5 Marine, aviation and transit insurance
  11.3.6 Personal accident and health insurance
11.4 Compulsory Insurance
  11.4.1 Motor third-party liability insurance
  11.4.2 Professional indemnity insurance for insurance intermediaries
  11.4.3 Worker’s compensation
11.5 Supervision and Control
  11.5.1 International Association of Insurance Supervisors
  11.5.2 Commission Regional des Assurances
  11.5.3 Directions Nationales des Assurances
11.6 Non-Admitted Insurance Regulations
  11.6.1 Overview
  11.6.2 Intermediaries
  11.6.3 Market practices
  11.6.4 Fines and Penalties
11.7 Company Registration and Operations
  11.7.1 Type of insurance organization
  11.7.2 Establishing a local company
  11.7.3 Foreign ownership
  11.7.4 Types of license
  11.7.5 Capital requirements
  11.7.6 Solvency margin
  11.7.7 Reserve requirements
  11.7.8 Investment regulations
  11.7.9 Statutory return requirements
  11.7.10 Fee structure
11.8 Taxation
  11.8.1 Insurance premium or policy taxation
  11.8.2 Withholding taxes on premium paid overseas
  11.8.3 Corporate tax
  11.8.4 VAT
  11.8.5 Captives
11.9 Legal System
  11.9.1 Introduction
  11.9.2 Access to court
  11.9.3 Alternative dispute resolution

12 DATABOOK

12.1 Life Insurance
  12.1.1 Policies and premium
  12.1.2 Claims and expenses
  12.1.3 Assets and investments
12.2 General Insurance
  12.2.1 Policies and premium
  12.2.2 Claims and expenses
  12.2.3 Assets and investments
  12.2.4 Property insurance
  12.2.5 Property insurance by category
  12.2.6 Motor insurance
  12.2.7 Motor insurance by category
  12.2.8 Liability insurance
  12.2.9 Marine, aviation and transit insurance
  12.2.10 Marine, aviation and transit insurance by category
  12.2.11 Personal accident and health insurance
  12.2.12 Miscellaneous

13 DEFINITIONS AND METHODOLOGY

13.1 Definitions
13.2 Methodology

14 ABOUT GLOBALDATA

14.1 Contact GlobalData
14.2 About GlobalData
14.3 GlobalData’s Services
14.4 Disclaimer

LIST OF TABLES

Table 1: Burkinabé Insurance Industry - Key Facts, 2017
Table 2: Burkinabé Insurance Industry - Industry Shares of the Top Insurers, 2017
Table 3: Burkinabé Government Credit Ratings
Table 4: Burkinabé Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 5: Burkinabé Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 6: Burkinabé Insurance Industry - Density (XOF), 2013-2017
Table 7: Burkinabé Insurance Industry - Density (XOF), 2017-2022
Table 8: Burkinabé Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 9: Burkinabé Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 10: Burkinabé Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 11: Burkinabé Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 12: Burkinabé Life Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 13: Burkinabé Life Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 14: Burkinabé Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
Table 15: Burkinabé Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
Table 16: Burkinabé Life Insurance - Investment Portfolio (XOF Billion), 2013-2017
Table 17: Burkinabé Life Insurance - Investment Portfolio (XOF Billion), 2017-2022
Table 18: Burkinabé General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2013-2017
Table 19: Burkinabé General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2017-2022
Table 20: Burkinabé General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 21: Burkinabé General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 22: Burkinabé General Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 23: Burkinabé General Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 24: Burkinabé General Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
Table 25: Burkinabé General Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
Table 26: Burkinabé General Insurance - Investment Portfolio (XOF Billion), 2013-2017
Table 27: Burkinabé General Insurance - Investment Portfolio (XOF Billion), 2017-2022
Table 28: Burkinabé Property Insurance - Direct Written Premium (XOF Billion and US$ Billion), 2013-2017
Table 29: Burkinabé Property Insurance - Direct Written Premium (XOF Billion and US$ Billion), 2017-2022
Table 30: Burkinabé Property Insurance - Loss Ratio (%), 2013-2017
Table 31: Burkinabé Property Insurance - Loss Ratio (%), 2017-2022
Table 32: Burkinabé Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 33: Burkinabé Motor Insurance - Gross Written Premium (XOF Billion and US$ Million), 2017-2022
Table 34: Burkinabé Motor Insurance - Loss Ratio (%), 2013-2017
Table 35: Burkinabé Motor Insurance - Loss Ratio (%), 2017-2022
Table 36: Burkinabé Liability Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 37: Burkinabé Liability Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 38: Burkinabé Liability Insurance - Loss Ratio (%), 2013-2017
Table 39: Burkinabé Liability Insurance - Loss Ratio (%), 2017-2022
Table 40: Burkinabé Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 41: Burkinabé Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 42: Burkinabé Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017
Table 43: Burkinabé Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022
Table 44: Burkinabé Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Billion), 2013-2017
Table 45: Burkinabé Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 46: Burkinabé Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
Table 47: Burkinabé Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
Table 48: Burkinabé Miscellaneous - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 49: Burkinabé Miscellaneous - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 50: Burkinabé Miscellaneous - Loss Ratio (%), 2013-2017
Table 51: Burkinabé Miscellaneous - Loss Ratio (%), 2017-2022
Table 52: Burkinabé Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2017
Table 53: Burkinabé Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2017-2022
Table 54: Burkinabé Insurance Industry - Market Share of Leading Insurers (%), 2016
Table 55: Burkinabé Insurance Industry - Market Share of Life Insurers (%), 2016
Table 56: Burkinabé Insurance Industry - Market Share of General Insurers (%), 2016
Table 57: Societe Nationale d'Assurances et de Reassurances - Key Facts
Table 58: Union des Assurances du Burkina - Key Facts
Table 59: Allianz Burkina Assurance - Key Facts
Table 60: Saham Assurance - Key Facts
Table 61: Generale des Assurances - Key Facts
Table 62: Burkina Faso - Insurance Regulatory Framework Key Features
Table 63: Burkina Faso - Intermediary Remuneration Rates
Table 64: Burkina Faso - Life Insurance Regulatory Framework
Table 65: Burkina Faso - Property Insurance Regulatory Framework
Table 66: Burkina Faso - Motor Insurance Regulatory Framework
Table 67: Burkina Faso - Liability Insurance Regulatory Framework
Table 68: Burkina Faso - Insurance Premium Tax Rates
Table 69: Burkina Faso - Corporate Tax Rates for the Financial Year 2017
Table 70: Burkinabé Life Insurance - Policies and Premium, 2013-2017
Table 71: Burkinabé Life Insurance - Policies and Premium, 2017-2022
Table 72: Burkinabé Life Insurance - Claims and Expenses, 2013-2017
Table 73: Burkinabé Life Insurance - Claims and Expenses, 2017-2022
Table 74: Burkinabé Life Insurance - Assets and Investments, 2013-2017
Table 75: Burkinabé Life Insurance - Assets and Investments, 2017-2022
Table 76: Burkinabé General Insurance - Policies and Premium, 2013-2017
Table 77: Burkinabé General Insurance - Policies and Premium, 2017-2022
Table 78: Burkinabé General Insurance - Claims and Expenses, 2013-2017
Table 79: Burkinabé General Insurance - Claims and Expenses, 2017-2022
Table 80: Burkinabé General Insurance - Assets and Investments, 2013-2017
Table 81: Burkinabé General Insurance - Assets and Investments, 2017-2022
Table 82: Burkinabé General Insurance - Property Insurance, 2013-2017
Table 83: Burkinabé General Insurance - Property Insurance, 2017-2022
Table 84: Burkinabé General Insurance - Property Insurance by Category, 2013-2017
Table 85: Burkinabé General Insurance - Property Insurance by Category, 2017-2022
Table 86: Burkinabé General Insurance - Motor Insurance, 2013-2017
Table 87: Burkinabé General Insurance - Motor Insurance, 2017-2022
Table 88: Burkinabé General Insurance - Motor Insurance by Category, 2013-2017
Table 89: Burkinabé General Insurance - Motor Insurance by Category, 2017-2022
Table 90: Burkinabé General Insurance - Liability Insurance, 2013-2017
Table 91: Burkinabé General Insurance - Liability Insurance, 2017-2022
Table 92: Burkinabé General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
Table 93: Burkinabé General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
Table 94: Burkinabé General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017
Table 95: Burkinabé General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022
Table 96: Burkinabé General Insurance - Personal Accident and Health Insurance, 2013-2017
Table 97: Burkinabé General Insurance - Personal Accident and Health Insurance, 2017-2022
Table 98: Burkinabé General Insurance - Miscellaneous, 2013-2017
Table 99: Burkinabé General Insurance - Miscellaneous, 2017-2022
Table 100: Insurance Industry Definitions

LIST OF FIGURES

Figure 1: Burkinabé Real GDP (XOF Trillion), 2013-2022
Figure 2: Burkinabé Exchange Rate (XOF per US$), 2013-2022
Figure 3: Burkinabé Consumer Price Inflation (%), 2013-2022
Figure 4: Burkinabé Current Account Balance as Percentage of GDP (%), 2013-2017
Figure 5: Burkinabé Unemployment Rate, 2013-2022
Figure 6: Burkinabé Population by Age Group, 2013-2022
Figure 7: Burkinabé Insurance Industry - Direct Written Premium (XOF Billion), 2013-2022
Figure 8: Burkinabé Insurance Industry - Density (XOF), 2013-2022
Figure 9: Burkinabé Insurance Industry - Paid Claims (XOF Billion), 2013-2022
Figure 10: Burkinabé Life Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 11: Burkinabé Life Insurance - Paid Claims (XOF Billion), 2013-2022
Figure 12: Burkinabé Life Insurance - Penetration (%), 2013-2017
Figure 13: Burkinabé Life Insurance - Penetration (%), 2017-2022
Figure 14: Burkinabé Life Insurance - Total Investment Income (XOF Billion), 2013-2022
Figure 15: Burkinabé Life Insurance - Investment Portfolio (XOF Billion), 2013-2022
Figure 16: Burkinabé Life Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
Figure 17: Burkinabé General Insurance - Gross Written Premium (XOF Billion), 2013-2022
Figure 18: Burkinabé General Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 19: Burkinabé General Insurance - Paid Claims (XOF Billion), 2013-2022
Figure 20: Burkinabé General Insurance - Penetration (%), 2013-2017
Figure 21: Burkinabé General Insurance - Penetration (%), 2017-2022
Figure 22: Burkinabé General Insurance - Loss Ratio (%), 2013-2017
Figure 23: Burkinabé General Insurance - Loss Ratio (%), 2017-2022
Figure 24: Burkinabé General Insurance - Total Investment Income (XOF Billion), 2013-2022
Figure 25: Burkinabé General Insurance - Investment Portfolio (XOF Billion), 2013-2022
Figure 26: Burkinabé General Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
Figure 27: Burkinabé Property Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 28: Burkinabé Property Insurance - Penetration (%), 2013-2017
Figure 29: Burkinabé Property Insurance - Penetration (%), 2017-2022
Figure 30: Burkinabé Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 31: Burkinabé Motor Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 32: Burkinabé Motor Insurance - Penetration (%), 2013-2017
Figure 33: Burkinabé Motor Insurance - Penetration (%), 2017-2022
Figure 34: Burkinabé Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 35: Burkinabé Liability Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 36: Burkinabé Liability Insurance - Penetration (%), 2013-2017
Figure 37: Burkinabé Liability Insurance - Penetration (%), 2017-2022
Figure 38: Burkinabé Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 39: Burkinabé Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 40: Burkinabé Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
Figure 41: Burkinabé Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
Figure 42: Burkinabé Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 43: Burkinabé Personal Accident and Health Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 44: Burkinabé Personal Accident and Health Insurance - Penetration (%), 2013-2017
Figure 45: Burkinabé Personal Accident and Health Insurance - Penetration (%), 2017-2022
Figure 46: Burkinabé Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 47: Burkinabé Miscellaneous - Direct Written Premium (XOF Billion), 2013-2022
Figure 48: Burkinabé Miscellaneous - Penetration (%), 2013-2017
Figure 49: Burkinabé Miscellaneous - Penetration (%), 2017-2022
Figure 50: Burkinabé Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 51: Burkinabé Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2022
Figure 52: Burkinabé General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
Figure 53: Burkinabé Insurance Industry - Market Share of Leading Insurers (%), 2016
Figure 54: Burkinabé Insurance Industry - Market Share of Life Insurers (%), 2016
Figure 55: Burkinabé Insurance Industry - Market Share of General Insurers (%), 2016
Figure 56: Burkina Faso - Insurance Supervision and Control at Various Levels
Figure 57: Burkina Faso - Insurance Regulatory Frameworks for Company Registration and Operation

COMPANIES MENTIONED

Societe Nationale D'Assurances Et De Reassurances
Union Des Assurances Du Burkina Vie
Allianz Burkina Assurances
Saham Assurance
Generale Des Assurances
Sunu Assurances
Coris Assurances
CIF Assurances Vie Burkina
Jackson Assurances
Skip to top


Ask Your Question

The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022
Company name*:
Contact person*:
Phone/fax*:
Email*:
Request invoice
Your enquiry:
Please click on a Check Box below to confirm you are not a robot: