The Insurance Industry in Zambia, Technologies,Key Trends,Challenges & Forecast Report to 2018

The Insurance Industry in Zambia, Key Trends and Opportunities to 2018 Size and Share Published in 2014-08-04 Available for US$ 1950 at Researchmoz.us

Description

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The report provides in-depth industry analysis, information and insights of the insurance industry in Zambia, including:

The Zambian insurance industry’s growth prospects by insurance segments and categories

The competitive landscape in the Zambian insurance industry

The current trends and drivers of the Zambian insurance industry

Challenges facing the Zambian insurance industry

Detailed regulatory framework of the Zambian insurance industry

Executive summary

Zambia ranks among the top 15 fastest-growing economies globally, and its economy continues to be strong, with the country having achieved middle income status in 2011. Zambia’s economy grew at a CAGR of 14.9% during the review period, and is estimated to grow by 7.1% in 2014. Led by relatively stable economic growth and a progressive regulatory environment, the country’s insurance industry registered strong growth during the review period, driven primarily by the non-life segment, which accounted for 63.7% of the industry’s gross written premium value in 2013. Gross written premium grew at a review-period CAGR of 15.6%, and is projected to grow at a CAGR of 13.9% over the forecast period. A number of insurance companies entered the industry, attracted by the positive growth potential and low penetration rate, which stood at 1.37% in 2012, compared with the African average of 3.65%.

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Scope

This report provides a comprehensive analysis of the insurance industry in Zambia:

It provides historical values for the Zambian insurance industry for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.

It offers a detailed analysis of the key segments and categories in the Zambian insurance industry, along with forecasts until 2018.

It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.

It profiles the top insurance companies in Zambia, and outlines the key regulations affecting them.

Reasons to buy

Make strategic business decisions using in-depth historic and forecast industry data related to the Zambian insurance industry and each segment within it.

Understand the demand-side dynamics, key trends and growth opportunities within the Zambian insurance industry.

Assess the competitive dynamics in the Zambian insurance industry.

Identify the growth opportunities and market dynamics within key segments.

Gain insights into key regulations governing the Zambian insurance industry and its impact on companies and the industry's future.

Key highlights

The Zambian economy grew at a CAGR of 14.9% during the review period, and is estimated to grow by 7.1% in 2014.

Zambian regulatory authorities were active in promoting microinsurance during the review period, which contributed further to the growth of the life segment.

Despite impressive economic growth, Zambia has failed to reduce poverty, and was among one of the poorest nations globally at the end of 2012.

There were 25 insurance companies operating in the Zambian insurance industry as of January 31, 2014.

The insurance penetration rate stood at 1.37% in 2012, significantly lower than the African average of 3.65%.

A high combined ratio has been a major concern for non-life insurers in Zambia.

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Table of Content

1 Executive Summary

2 Introduction

2.1 What is this Report About?

2.2 Definitions

2.3 Methodology

3 Zambian Insurance Industry Overview

3.1 Zambian Insurance Industry

3.2 Key Industry Trends and Drivers

3.3 Challenges

4 Industry Segmentation

4.1 Life Insurance

4.2 Non-Life Insurance

4.2.1 Property insurance

4.2.2 Motor insurance

4.2.3 Liability insurance

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