Africa Insurance Market Outlook to 2015 - Surge in Insurance Density, Key Medium for Growth

Date: February 22, 2011
Pages: 49
Price:
US$ 750.00
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Publisher: Ken Research Private Ltd
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Hard Copy Mail Delivery
ID: A6A96F8FE2BEN
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Africa Insurance Market Outlook to 2015 - Surge in Insurance Density, Key Medium for Growth
Executive Summary

The Report titled “Africa Insurance Market Outlook to 2015 - Surge in Insurance Density, Key Medium for Growth” provides an in-depth analysis of the Africa insurance industry. The report covers specific insights on the market size, insurance density, insurance penetration and segmentation, drivers and restraints, recent trends and developments and future outlook of the insurance industry in Africa and in couple of countries including the South Africa and Morocco. The report also entails the market size on the basis of gross insurance premium written in case of life and non-life insurance and market share of various companies at the country level. Overall, the report offers a comprehensive analysis of the entire African insurance industry.

Insurance Industry in Africa

African insurance market is dominated by life insurance segments with ~ % of the insurance premium written in 2009. The distribution channels have also evolved in the region with new medium of bancassurance gaining more popularity. Distribution channel of Brokers and Agents have continued to remain strong with new association coming up in the region.

South Africa is the largest insurance market in Africa which contributed approximately ~ % of the insurance premium in the region. Since the South Africa market is in the growing and developing stage, the growth in the African insurance market is supported by the country’s growth.

The density level of both life and non-life insurance sector is low in the region (USD ~ in 2009). This is largely due to insufficient awareness about the insurance policies, its working, structure and significance in the region.

South Africa

Life insurance market in South Africa is highly developed in terms of the distribution channel, technology and expertise. Life insurance premium written in the country was valued at USD ~ million. It has decreased by ~% in 2009 from USD ~ million in 2008 due to the financial turmoil. It is expected that South Africa will require some time to recover and is expected to get back on track from 2011 onwards. It is estimated that life insurance market will reach USD ~ million by 2011 and USD ~ million by 2015.

Morocco

Morocco insurance market is in the developing and growing stage with gross insurance premium of USD ~ million in 2009. The market has witnessed an historical average growth rate of ~ % from 2001 to 2009. The insurance premium of the country contributed approximately ~ % to the insurance premium of Africa region.

With over ~ million population of Morocco, nearly USD ~ per person was spent on the life insurance policies in 2009. It has approximately increased ~ times from the density level of USD ~ in 2001. It is expected that with the population of ~ million in 2010, the density will be USD ~ in 2010. It is projected to reach to USD ~ by 2015, registering an expected 6 year CAGR of ~ % from 2009 to 2015.

Scope of Research

The report entails thorough analysis, drivers, restraints and market opportunities for insurance industry in the Africa. The scope of the report includes:
  • The market size of life and non-life insurance industry in terms of gross insurance premium written for Africa and 2 countries (South Africa and Morocco) 2001 to 2015
  • Life and Non-life insurance density in USD for Africa and for 2 countries, 2001 to 2015
  • Life and Non-life insurance penetration, premium as a percentage of GDP for Africa and for 2 countries, 2001 to 2015
  • Market segmentation on the basis of Geography and on the basis of Product for Africa and major 2 countries, 2009 and 2015
  • Competitive Landscape of the major life and non-life insurers (Wafa Assurance, RMAWatanya, Axa Assurance Maroc, RMAWatanya, Old Mutual, Momentum Group, Santam, Mutual & Federal) in various countries on the basis of gross premium written
  • In-depth analysis of trends and developments, drivers, restraints and future outlook of the insurance industry in Africa and the major 2 countries
  • Market opportunities and Future Outlook of the insurance industry in Africa and major 2 countries.
1. AFRICA INSURANCE MARKET

1.1. Africa Insurance Market Introduction
1.2. Africa Insurance Market Drivers
1.3. Africa Insurance Market Restraints
1.4. Africa Life and Non-Life insurance Market Size by Value, 2001-2015
1.5. Africa Life and Non-Life Insurance Density, Premium per Capita, USD, 2001-2015
1.6. Africa Life and Non-Life Insurance Penetration, Premium in % of GDP, 2001-2015
1.7. Africa Insurance Market Segmentation, 2009-2015
  1.7.1. By Geography, 2009 and 2015
  1.7.2. By Product, 2009 and 2015
1.8. Africa insurance Market Recent Trends and Developments
1.9. Africa Insurance Market Future Outlook
1.10. South Africa Insurance Market
  1.10.1. South Africa Insurance Market Introduction
  1.10.2. South Africa Life and Non-Life Insurance Market Size by Value, 2001-2015
  1.10.3. South Africa Life and Non-Life Insurance Density, Premium Per Capita, USD, 2001-2015
  1.10.4. South Africa Life and Non-Life Insurance Penetration, Premium as a % of GDP, 2001-2015
  1.10.5. South Africa Insurance Market Segmentation by Product, 2009 and 2015
    1.10.5.1. South Africa Non-Life Insurance Market
  1.10.6. South Africa Insurance Competitive Landscape
    1.10.6.1. South Africa Life Insurance Competitive Landscape, 2007
    1.10.6.2. South Africa Non-Life Insurance Competitive Landscape, 2007
  1.10.7. South Africa Insurance Market Future Outlook
1.11. Morocco Insurance Market
  1.11.1. Morocco Insurance Market Introduction
  1.11.2. Morocco Life and Non-Life Insurance Market Size by Value, 2001-2015
  1.11.3. Morocco Life and Non-Life Insurance Density, Premium Per Capita, USD, 2001-2015
  1.11.4. Morocco Life and Non-Life Insurance Penetration, Premium as a % of GDP, 2001-2015
  1.11.5. Morocco Insurance Market Segmentation by Product, 2009 and 2015
  1.11.6. Morocco Insurance Competitive Landscape
    1.11.6.1. Morocco Life Insurance Competitive Landscape, 2008
    1.11.6.2. Morocco Non-Life Insurance Competitive Landscape, 2008
  1.11.7. Morocco Insurance Market Future Outlook

2. APPENDIX

2.1. Market Definition
2.2. Abbreviations
2.3. Disclaimer

LIST OF FIGURES

Figure 1: Africa Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Figure 2: Africa Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Figure 3: Africa Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Figure 4: Africa Insurance Market Segmentation by Countries, in Percentage, 2009
Figure 5: Africa Insurance Market Segmentation by Countries, in Percentage, 2015
Figure 6: Africa Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2009
Figure 7: Africa Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2015
Figure 8: South Africa Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Figure 9: South Africa Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Figure 10: South Africa Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Figure 11: South Africa Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2009
Figure 12: South Africa Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2015
Figure 13: South Africa Non-Life Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2009
Figure 14: South Africa Market Share of the Major Life Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2007
Figure 15: South Africa Market Share of the Major Non-Life Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2007
Figure 16: Morocco Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Figure 17: Morocco Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Figure 18: Morocco Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Figure 19: Morocco Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2009
Figure 20: Morocco Insurance Market Segmentation by Product in Percentage on the basis of Gross Insurance Premium Written, 2015
Figure 21: Morocco Market Share of the Major Life Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2008
Figure 22: Morocco Market Share of the Major Non-Life Insurers on the basis of Gross Insurance Premium Written, in Percentage, 2008

LIST OF TABLES

Table 1: Africa Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Table 2: Africa Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Table 3: Africa Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Table 4: Africa Insurance Market Segmentation by Countries, in USD Million, 2009
Table 5: Africa Insurance Market Segmentation by Countries, in USD Million, 2015
Table 6: South Africa Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Table 7: South Africa Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Table 8: South Africa Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Table 9: South Africa Market Share of the Major Life Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2007
Table 10: South Africa Market Share of the Major Non-Life Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2007
Table 11: Morocco Market Size by Value of Life and Non-Life Insurance Market in USD Million, on the basis of Gross Insurance Premium Written, 2001-2015
Table 12: Morocco Life and Non Life Insurance Density, Premium per Capita, in USD, 2001-2015
Table 13: Morocco Life and Non Life Insurance Penetration, Premium as a Percentage of GDP, 2001-2015
Table 14: Morocco Market Share of the Major Life Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2008
Table 15: Morocco Market Share of the Major Non-Life Insurers on the basis of Gross Insurance Premium Written, in USD Million, 2008
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Africa Insurance Market Outlook to 2015 - Surge in Insurance Density, Key Medium for Growth
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