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Kenya Insurance Report Q2 2016

  • February 2016
  • -
  • Business Monitor International
  • -
  • 67 pages

Includes 3 FREE quarterly updates

BMI View: We have a bullish outlook for the Kenyan insurance sector, with non-life insurance in particularexpected to record robust annual growth throughout our five-year forecast period through to 2020.Increases in average household income rates, as well as wider economic growth, is driving demand for anumber of products, including property, health and motor insurance. At the same time, improvingawareness of the benefits of various life products, as well as an expansion in the number of productsavailable in the market, is contributing to growth of the life sector - though we note that widespread povertyremains a serious hindrance to growth potential.

Key Updates And Forecasts

-The Association of Kenya Insurance (AKI) continues to tackle fraudulent claims in the motor sector. TheAKI plans to launch the Integrated Motor Insurance Data System in 2016, which will streamline theclaims process, reducing the potential for fraud and eventually reducing the cost of premiums. Thesystem will be linked with the Kenya Revenue Authority (KRA), Ministry of Transport and the police.

Table Of Contents

Kenya Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Kenya 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Kenya 2013-2020) 13
Table: Life Insurance Claims (Kenya 2007-2014) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Kenya 2013-2020) 17
Table: Non-Life Insurance Claims (Kenya 2008-2014) 19
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums By Product Line (Kenya 2013-2020) 29
Insurance Risk/Reward Index 31
Sub-Saharan Africa Risk/Reward Index 31
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q216 32
Market Overview 34
Life Market Overview 34
The Product Offering 34
The Competitive Landscape 35
Table: Company Performance: Life Insurance Market (USDmn) 2008-2014 37
Non-Life Market Overview 38
The Product Offering 38
The Competitive Landscape 39
Table: COMPANY PERFORMANCE: Non-Life Insurance Market (USDmn) 2008-2014 40
Company Profile 43
British American Insurance Company (Kenya) 43
Jubilee Insurance 46
Liberty Holdings 49
MMI Holdings 52
Old Mutual 55
Pan Africa Life Assurance 58
Methodology 61
Industry Forecast Methodology 61
Risk/Reward Index Methodology 64
Table: Indicators 66
Table: Weighting of Indicators 67

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