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Synopsis
Timetric’s The Insurance Industry in Mozambique, Key Trends and Opportunities to 2018 report provides detailed analysis of the market trends, drivers, challenges in the Mozambican insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions during the review period (2009–2013) and forecast period (2013–2018). The report also analyzes detailed information on the competitive landscape in the country.

The report brings together Timetric’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 regulatory structure.

Summary
The report provides in-depth market analysis, information and insights into the Mozambican insurance industry, including:

- The Mozambican insurance industry's growth prospects by segment and category

- Key trends, drivers and challenges in the Mozambican insurance industry

- The detailed competitive landscape in the Mozambican insurance industry

- Detailed regulatory policies of the Mozambican insurance industry

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

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

- It offers a detailed analysis of the key segments in the Mozambican insurance industry, along with market forecasts until 2018.

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

- It profiles the top insurance companies in Mozambique 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 Mozambique insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Mozambican insurance industry.

- Assess the competitive dynamics in the Mozambican insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Mozambican insurance industry and their impact on companies and the industry's future.

Key Highlights
- The Mozambican insurance industry grew in terms of gross written premium recording a CAGR of 26.4% during the review period

- This was due to the expansion of the life insurance segment, which grew at a review-period CAGR of 34.0%, followed by the non-life segment with 25.0%

- Increasing middle class population, life expectancy rate and mandatory lines of insurance such as motor third-party insurance and aviation liability insurance were the key factors for overall insurance industry’s growth

- In order to maintain growth, insurers are targeting microinsurance clients and focusing on product development to cater to the needs of a wider market segment

- The Mozambican insurance industry is supervised and regulated by the Instituto de Supervisão de Seguros de Moçambique (ISSM) operating under the Ministry of Finance

- There were 16 licensed insurance companies operating in the country as at the end of 2013.

Table Of Contents

The Insurance Industry in Mozambique, Key Trends and Opportunities to 2018
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Mozambican Insurance Industry Overview
3.1 Mozambican 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
4.2.4 Marine, aviation and transit insurance
4.3 Personal Accident and Health Insurance
4.4 Reinsurance
5 Governance, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Latest Changes in Regulations
5.3 Legislation and Market Practice by Type of Insurance
5.3.1 Life insurance
5.3.2 Property insurance
5.3.3 Motor insurance
5.3.4 Liability insurance
5.3.5 Marine, aviation and transit insurance
5.3.6 Personal accident and health insurance
5.4 Compulsory Insurance
5.4.1 Motor third-party liability insurance
5.4.2 Social security system
5.4.3 Professional indemnity insurance for insurance intermediaries
5.4.4 Aviation liability insurance
5.5 Supervision and Control
5.5.1 International Association of Insurance Supervisors
5.5.2 African Insurance Organization (AIO)
5.5.3 Instituto de Supervisão de Seguros de Moçambique (ISSM)
5.6 Non-Admitted Insurance Regulations
5.6.1 Overview
5.6.2 Intermediaries
5.6.3 Market practices
5.6.4 Fines and penalties
5.7 Company Registration and Operations
5.7.1 Types of insurance organization
5.7.2 Establishing a local company
5.7.3 Foreign ownership
5.7.4 Types of license
5.7.5 Capital requirements
5.7.6 Solvency margins
5.7.7 Reserve requirements
5.7.8 Investment regulations
5.7.9 Statutory return requirements
5.7.10 Fee structure
5.8 Taxation
5.8.1 Insurance premium or policy taxation
5.8.2 Withholding taxes on premium paid overseas
5.8.3 Corporate tax
5.8.4 VAT
5.8.5 Captives
5.9 Legal System
5.9.1 Introduction
5.9.2 Access to court
5.9.3 Alternative dispute resolution (ADR)
6 Competitive Landscape
6.1 Overview
6.2 Leading Companies in the Mozambican Life segment
6.3 Leading Companies in the Mozambican Non-life segment
6.4 Leading Companies
6.4.1 Seguradora Internacional de Mocambique SA (Millennium Seguros) - company overview
6.4.2 Global Alliance - Seguros, SA - company overview
6.4.3 Empresa Mocambicana de Seguros (Emose) - company overview
6.4.4 Hollard Moçambique Companhia de Seguros - company overview
6.4.5 Companhia de Seguros Africa Austra, SA - company overview
7 Macroeconomic Indicators
7.1 GDP at Constant Prices (US$)
7.2 GDP at Current Prices (US$)
7.3 Inflation
7.4 Total Life Expectancy
7.5 Total Internet Users
7.6 Total Labor Force
7.7 Rural and Urban Populations
7.8 Total Population
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Mozambican Insurance Gross Written Premium by Segment (MZN Billion), 2009-2013
Table 3: Mozambican Insurance Gross Written Premium by Segment (US$ Million), 2009-2013
Table 4: Mozambican Insurance Gross Written Premium by Segment (MZN Billion), 2013-2018
Table 5: Mozambican Insurance Gross Written Premium by Segment (US$ Million), 2013-2018
Table 6: Mozambican Insurance Segmentation by Gross Written Premium (Percentage Share), 2009-2018
Table 7: Mozambican Insurance Direct Written Premium by Segment (MZN Billion), 2009-2013
Table 8: Mozambican Insurance Direct Written Premium by Segment (US$ Million), 2009-2013
Table 9: Mozambican Insurance Direct Written Premium by Segment (MZN Billion), 2013-2018
Table 10: Mozambican Insurance Direct Written Premium by Segment (US$ Million), 2013-2018
Table 11: Mozambican Insurance Segmentation by Direct Written Premium (Percentage Share), 2009-2018
Table 12: Mozambican Life Insurance - Gross Written Premium (MZN Billion), 2009-2013
Table 13: Mozambican Life Insurance - Gross Written Premium (MZN Billion), 2013-2018
Table 14: Mozambican Life Insurance - Direct Written Premium (MZN Billion), 2009-2013
Table 15: Mozambican Life Insurance - Direct Written Premium (MZN Billion), 2013-2018
Table 16: Mozambican Life Insurance - Paid Claims (MZN Billion), 2009-2013
Table 17: Mozambican Life Insurance - Paid Claims (MZN Billion), 2013-2018
Table 18: Mozambican Life Insurance - Incurred Loss (MZN Billion), 2009-2013
Table 19: Mozambican Life Insurance - Incurred Loss (MZN Billion), 2013-2018
Table 20: Mozambican Life Insurance - Loss Ratio (%), 2009-2013
Table 21: Mozambican Life Insurance - Loss Ratio (%), 2013-2018
Table 22: Mozambican Life Insurance - Combined Ratio (%), 2009-2013
Table 23: Mozambican Life Insurance - Combined Ratio (%), 2013-2018
Table 24: Mozambican Life Insurance - Retentions (MZN Billion), 2009-2013
Table 25: Mozambican Life Insurance - Retentions (MZN Billion), 2013-2018
Table 26: Mozambican Non-Life Insurance - Gross Written Premium by Category (MZN Billion), 2009-2013
Table 27: Mozambican Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
Table 28: Mozambican Non-Life Insurance - Gross Written Premium by Category (MZN Billion), 2013-2018
Table 29: Mozambican Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
Table 30: Mozambican Non-Life Insurance - Direct Written Premium by Category (MZN Billion), 2009-2013
Table 31: Mozambican Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2009-2013
Table 32: Mozambican Non-Life Insurance - Direct Written Premium by Category (MZN Billion), 2013-2018
Table 33: Mozambican Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2013-2018
Table 34: Mozambican Non-Life Insurance - Paid Claims (MZN Billion), 2009-2013
Table 35: Mozambican Non-Life Insurance - Paid Claims (MZN Billion), 2013-2018
Table 36: Mozambican Non-Life Insurance - Incurred Loss (MZN Billion), 2009-2013
Table 37: Mozambican Non-Life Insurance - Incurred Loss (MZN Billion), 2013-2018
Table 38: Mozambican Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 39: Mozambican Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 40: Mozambican Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 41: Mozambican Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 42: Mozambican Non-Life Insurance - Retentions (MZN Billion), 2009-2013
Table 43: Mozambican Non-Life Insurance - Retentions (MZN Billion), 2013-2018
Table 44: Mozambican Property Insurance - Gross Written Premium (MZN Billion), 2009-2013
Table 45: Mozambican Property Insurance - Gross Written Premium (MZN Billion), 2013-2018
Table 46: Mozambican Motor Insurance - Gross Written Premium (MZN Billion), 2009-2013
Table 47: Mozambican Motor Insurance - Gross Written Premium (MZN Billion), 2013-2018
Table 48: Mozambican Liability Insurance - Gross Written Premium (MZN Billion), 2009-2013
Table 49: Mozambican Liability Insurance - Gross Written Premium (MZN Billion), 2013-2018
Table 50: Mozambican Marine, Aviation and Transit Insurance - Gross Written Premium (MZN Billion), 2009-2013
Table 51: Mozambican Marine, Aviation and Transit Insurance - Gross Written Premium (MZN Billion), 2013-2018
Table 52: Mozambican Personal Accident and Health Insurance Gross Written Premium (MZN Billion), 2009-2013
Table 53: Mozambican Personal Accident and Health Insurance Gross Written Premium (MZN Billion), 2013-2018
Table 54: Mozambican Personal Accident and Health Insurance Direct Written Premium (MZN Billion), 2009-2013
Table 55: Mozambican Personal Accident and Health Insurance Direct Written Premium (MZN Billion), 2013-2018
Table 56: Mozambican Personal Accident and Health Insurance - Paid Claim (MZN Billion), 2009-2013
Table 57: Mozambican Personal Accident and Health Insurance - Paid Claim (MZN Billion), 2013-2018
Table 58: Mozambican Personal Accident and Health Insurance - Incurred Loss (MZN Billion), 2009-2013
Table 59: Mozambican Personal Accident and Health Insurance - Incurred Loss (MZN Billion), 2013-2018
Table 60: Mozambican Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 61: Mozambican Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 62: Mozambican Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 63: Mozambican Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 64: Mozambican Personal Accident and Health Insurance - Retentions (MZN Billion), 2009-2013
Table 65: Mozambican Personal Accident and Health Insurance - Retentions (MZN Billion), 2013-2018
Table 66: Mozambican Reinsurance - Ceded by Insurance Segment (MZN Billion), 2009-2013
Table 67: Mozambican Reinsurance - Ceded by Insurance Segment (US$ Million), 2009-2013
Table 68: Mozambican Reinsurance - Ceded by Insurance Segment (MZN Billion), 2013-2018
Table 69: Mozambican Reinsurance - Ceded by Insurance Segment (US$ Million), 2013-2018
Table 70: Mozambican Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 71: Mozambican Life Insurance - Percentage of Reinsurance Ceded (%),2013-2018
Table 72: Mozambican Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 73: Mozambican Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 74: Mozambican Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 75: Mozambican Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 76: Mozambique - Life Insurance Regulatory Framework
Table 77: Mozambique - Property Insurance Regulatory Framework
Table 78: Mozambique - Motor Insurance Regulatory Framework
Table 79: Mozambique - Liability Insurance Regulatory Framework
Table 80: Mozambique - Spread of Assets Representing Technical Reserves
Table 81: Mozambique - Corporate Tax Rates for the Financial Year 2015
Table 82: Mozambican Life Insurance - Market Shares (%), 2012
Table 83: Mozambican Non-Life Insurance - Market Shares (%), 2012
Table 84: Seguradora Internacional de Mocambique SA, Main Products
Table 85: Seguradora Internacional de Mocambique SA, Key Employees
Table 86: Global Alliance - Seguros, SA, Main Products
Table 87: Global Alliance - Seguros, SA, Key Employees
Table 88: Empresa Mocambicana de Seguros, Main Products
Table 89: Empresa Mocambicana de Seguros, Key Employees
Table 90: Hollard Moçambique Companhia de Seguros, Main Products
Table 91: Companhia de Seguros Africa Austra, SA, Main Products

List of Figures
Figure 1: Mozambican Insurance Gross Written Premium by Segment (MZN Billion), 2009-2018
Figure 2: Mozambican Insurance Gross Written Premium Market Dynamics by Segment, 2009-2018
Figure 3: Mozambican Insurance Direct Written Premium by Segment (MZN Billion), 2009-2018
Figure 4: Mozambican Insurance Direct Written Premium Market Dynamics by Segment, 2009-2018
Figure 5: Mozambican Life Insurance - Gross Written Premium (MZN Billion), 2009-2013
Figure 6: Mozambican Life Insurance - Gross Written Premium (MZN Billion), 2013-2018
Figure 7: Mozambican Life Insurance - Direct Written Premium (MZN Billion), 2009-2013
Figure 8: Mozambican Life Insurance - Direct Written Premium (MZN Billion), 2013-2018
Figure 9: Mozambican Life Insurance - Paid Claims (MZN Billion), 2009-2013
Figure 10: Mozambican Life Insurance - Paid Claims (MZN Billion), 2013-2018
Figure 11: Mozambican Life Insurance - Incurred Loss (MZN Billion), 2009-2013
Figure 12: Mozambican Life Insurance - Incurred Loss (MZN Billion), 2013-2018
Figure 13: Mozambican Life Insurance - Loss Ratio (%), 2009-2013
Figure 14: Mozambican Life Insurance - Loss Ratio (%), 2013-2018
Figure 15: Mozambican Life Insurance - Combined Ratio (%), 2009-2013
Figure 16: Mozambican Life Insurance - Combined Ratio (%), 2013-2018
Figure 17: Mozambican Life Insurance - Retentions (MZN Billion), 2009-2013
Figure 18: Mozambican Life Insurance - Retentions (MZN Billion), 2013-2018
Figure 19: Mozambican Life Insurance - Penetration (% of GDP), 2009-2013
Figure 20: Mozambican Life Insurance - Premium Per-capita (MZN), 2009-2013
Figure 21: Mozambican Non-Life Insurance - Gross Written Premium by Category (MZN Billion), 2009-2018
Figure 22: Mozambican Non-Life Insurance - Gross Written Premium by Category (%), 2013 and 2018
Figure 23: Mozambican Non-Life Insurance - Gross Written Premium Dynamics by Category, 2009-2018
Figure 24: Mozambican Non-Life Insurance - Direct Written Premium by Category (MZN Billion), 2009-2018
Figure 25: Mozambican Non-Life Insurance - Direct Written Premium by Category (%), 2013 and 2018
Figure 26: Mozambican Non-Life Insurance - Direct Written Premium Dynamics by Category, 2009-2018
Figure 27: Mozambican Non-Life Insurance - Paid Claims (MZN Billion), 2009-2013
Figure 28: Mozambican Non-Life Insurance - Paid Claims (MZN Billion), 2013-2018
Figure 29: Mozambican Non-Life Insurance - Incurred Loss (MZN Billion), 2009-2013
Figure 30: Mozambican Non-Life Insurance - Incurred Loss (MZN Billion), 2013-2018
Figure 31: Mozambican Non-Life Insurance - Loss Ratio (%), 2009-2013
Figure 32: Mozambican Non-Life Insurance - Loss Ratio (%), 2013-2018
Figure 33: Mozambican Non-Life Insurance - Combined Ratio (%), 2009-2013
Figure 34: Mozambican Non-Life Insurance - Combined Ratio (%), 2013-2018
Figure 35: Mozambican Non-Life Insurance - Retentions (MZN Billion), 2009-2013
Figure 36: Mozambican Non-Life Insurance - Retentions (MZN Billion), 2013-2018
Figure 37: Mozambican Non-Life Insurance Penetration (% of GDP), 2009-2013
Figure 38: Mozambican Non-Life Insurance - Premium Per Capita (MZN), 2009-2013
Figure 39: Mozambican Property Insurance - Gross Written Premium (MZN Billion), 2009-2013
Figure 40: Mozambican Property Insurance - Gross Written Premium (MZN Billion), 2013-2018
Figure 41: Mozambican Motor Insurance - Gross Written Premium (MZN Billion), 2009-2013
Figure 42: Mozambican Motor Insurance - Gross Written Premium (MZN Billion), 2013-2018
Figure 43: Mozambican Liability Insurance - Gross Written Premium (MZN Billion), 2009-2013
Figure 44: Mozambican Liability Insurance - Gross Written Premium (MZN Billion), 2013-2018
Figure 45: Mozambican Marine, Aviation and Transit Insurance - Gross Written Premium (MZN Billion), 2009-2013
Figure 46: Mozambican Marine, Aviation and Transit Insurance - Gross Written Premium (MZN Billion), 2013-2018
Figure 47: Mozambican Personal Accident and Health Insurance Gross Written Premium (MZN Billion), 2009-2013
Figure 48: Mozambican Personal Accident and Health Insurance Gross Written Premium (MZN Billion), 2013-2018
Figure 49: Mozambican Personal Accident and Health Insurance Direct Written Premium (MZN Billion), 2009-2013
Figure 50: Mozambican Personal Accident and Health Insurance Direct Written Premium (MZN Billion), 2013-2018
Figure 51: Mozambican Personal Accident and Health Insurance - Paid Claims by Category (MZN Billion), 2009-2013
Figure 52: Mozambican Personal Accident and Health Insurance - Paid Claims (MZN Billion), 2013-2018
Figure 53: Mozambican Personal Accident and Health Insurance - Incurred Loss (MZN Billion), 2009-2013
Figure 54: Mozambican Personal Accident and Health Insurance - Incurred Loss (MZN Billion), 2013-2018
Figure 55: Mozambican Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
Figure 56: Mozambican Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
Figure 57: Mozambican Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
Figure 58: Mozambican Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
Figure 59: Mozambican Personal Accident and Health Insurance - Retentions (MZN Billion), 2009-2013
Figure 60: Mozambican Personal Accident and Health Insurance - Retentions (MZN Billion), 2013-2018
Figure 61: Mozambican Personal Accident and Health Insurance Penetration (% of GDP), 2009-2013
Figure 62: Mozambican Personal Accident and Health Insurance - Premium Per Capita (MZN), 2009-2013
Figure 63: Mozambican Reinsurance - Ceded by Insurance Segment (MZN Billion), 2009-2018
Figure 64: Mozambican Reinsurance - Dynamics by Insurance Segment, 2009-2018
Figure 65: Mozambican Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 66: Mozambican Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 67: Mozambican Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 68: Mozambican Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 69: Mozambican Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 70: Mozambican Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 71: Mozambique - Insurance Regulatory Framework
Figure 72: Mozambique - Insurance Supervision and Control at Various Levels
Figure 73: Mozambique - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 74: Mozambican Life Insurance - Market Shares (%), 2012
Figure 75: Mozambican Non-Life Insurance - Market Shares (%), 2012
Figure 76: Mozambican GDP at Constant Prices (US$ Billion), 2009-2013
Figure 77: Mozambican GDP at Current Prices (US$ Billion), 2009-2013
Figure 78: Mozambican Inflation Rate (%), 2009-2013
Figure 79: Mozambican Total Life Expectancy (Years), 2009-2013
Figure 80: Mozambican Total Internet Users (Million), 2009-2013
Figure 81: Mozambican Total Labor Force (Million), 2008-2012
Figure 82: Mozambican Rural and Urban Populations (%), 2009-2013
Figure 83: Mozambican Total Population (Million), 2009-2013

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