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Namibia Insurance Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 49 pages

Includes 3 FREE quarterly updates

BMI View: Namibia's insurance sector is relatively well developed (in places), compared with the widersub-Saharan African market, with penetration of life insurance in particular being higher than it is in manyneighbouring countries. The non-life sector is less developed and we see strong growth potential in thepersonal accident and motor vehicle insurance segments. While Namibia's population is small, manyhouseholds have never purchased insurance coverage and the introduction of new distribution and productinnovation strategies should allow investors to leverage a fairly robust macroeconomic and consumerspending environment over the next few years.

Latest Updates and Developments:

- We have revised a number of our USD-denominated insurance premiums forecasts downwards for thisquarter following revisions to our currency market outlook. We now forecast life premiums to grow by arelatively moderate 1.2% y-o-y over the 2015-2019 period, while non-life premiums will grow at a morerobust 8.6% a year through the period.

- We maintain our view that the motor vehicle and personal accident insurance segments will remain thekey source of growth within the wider non-life segment over the next few years as insurers usedistribution and product innovation strategies to target new user groups, including lower incomecustomers. Both markets will be worth around USD155mn by 2019.

Table Of Contents

Namibia Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Namibia 2012-2019) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Namibia 2012-2019) 11
Table: Life Insurance Claims (Namibia 2007-2014) 12
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Namibia 2012-2019) 15
Table: Non-Life Insurance Claims (Namibia 2008-2014) 16
Non-Life Sub-Sector Forecast 16
Industry Risk Reward Ratings 21
Sub-Saharan Africa Risk/Reward Index 21
Table: Sub-Saharan Africa Insurance Risk/Reward Index 22
Market Overview 24
Life Market Overview 24
The Product Offering 24
The Competitive Landscape 24
Non-Life Market Overview 26
The Product Offering 26
The Competitive Landscape 27
Company Profile 29
MMI Holdings 29
Old Mutual 33
Sanlam Group 36
Trustco 40
Methodology 43
Industry Forecast Methodology 43
Risk/Reward Index Methodology 46
Table: Indicators 48
Table: Weighting of Indicators 49

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