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The Insurance Industry in Eritrea, Key Trends and Opportunities to 2019

  • November 2015
  • 104 pages
  • Timetric
Report ID: 1181026

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Synopsis
Timetric’s 'The Insurance Industry in Eritrea, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Eritrean insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Eritrean economy and demographics, and provides 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 the regulatory structure.

Summary
Timetric’s 'The Insurance Industry in Eritrea, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Eritrean insurance industry, including:

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

- A comprehensive overview of Eritrean economy and demographics

- The detailed competitive landscape in the Eritrean insurance industry

- The various distribution channels in the Eritrean insurance industry

- Detailed regulatory policies of the Eritrean insurance industry

- Analysis of natural hazards in Eritrean insurance industry

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

- It provides historical values for the Eritrean insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Eritrean insurance industry, along with market forecasts until 2019.

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

- It analyzes the various distribution channels in Eritrea.

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

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

- Assess the competitive dynamics in the Eritrean insurance industry.

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

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

Key Highlights
- The industry was led by the non-life segment, with 83.7% of the gross written premium in 2014, followed by personal accident and health insurance with 15.2%, and life insurance with 1.1%.

- With economic growth and rising consumer awareness, the Eritrean insurance industry is expected to record a forecast-period CAGR of 9.4%.

- The motor insurance category contributed 55.4% of the industry’s gross written premium in 2014.

- The insurance industry in Eritrea consists of only one insurance company: NICE.

- Insurance penetration stood at 0.38% in 2014, primarily supported by the non-life segment.

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