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

  • February 2016
  • -
  • Timetric
  • -
  • 140 pages

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Synopsis
Timetric’s 'The Insurance Industry in Zimbabwe, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Zimbabwean 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 Zimbabwean 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 Zimbabwe, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Zimbabwean insurance industry, including:

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

- A comprehensive overview of Zimbabwean economy and demographics

- The detailed competitive landscape in the Zimbabwean insurance industry

- The various distribution channels in the Zimbabwean insurance industry

- Detailed regulatory policies of the Zimbabwean insurance industry

- Analysis of natural hazards in Zimbabwean insurance industry

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

- It provides historical values for the Zimbabwean 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 Zimbabwean 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 Zimbabwe.

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

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

- Assess the competitive dynamics in the Zimbabwean insurance industry.

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

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

Key Highlights
- The industry grew at a review period (2010–2014) compound annual growth rate (CAGR) of 27.7%.

- In terms of gross written premium, the top three companies in life segment accounted for 82.7% of the market share in 2015, while the top three funeral insurers accounted for 86.4% and the four largest non-life insurers accounted for 50.0%.

- To reduce operational expenses in terms of commissions paid to brokers, insurers are focusing on developing digital platforms – particularly mobile networks – to deliver the service.

- Over the forecast period, the process of recapitalization will improve the underwriting capacity, and result in more capable and reputable insurers in the Zimbabwean insurance industry.

- Developing consumer-centric products to provide insurance services to rural low-income population is expected to increase the penetration rate and drive the industry over the forecast period.

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