1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Bancassurance in Angola: Current State and Future Perspectives to 2020

Finaccord’s report titled Bancassurance in Angola: Current State and Future Perspectives to 2020, plus the PartnerBASE™ and market data file that accompany it, provides comprehensive and detailed insights into the prospects for bancassurance in Angola.

In addition to offering a review of key macro-economic metrics in Angola, the research also provides a background to the banking sector through the following information: identification of the ten largest banks by number of retail banking customers; data to illustrate the development of the banking market including number of fully-licensed banks, deposit accounts, branches and ATMs and how each of these have developed since 2005; and review of the value and growth of the consumer mortgage and non-mortgage lending market.

The research then focuses specifically on bancassurance with commentary in several areas: the regulatory environment and general importance of banks as an insurance distribution channel; the insurance product range, operating models and bancassurance partnerships of the ten leading banks; and future outlook for the value of the life and non-life insurance market of Angola through to 2020.

Table Of Contents

Bancassurance in Angola: Current State and Future Perspectives to 2020
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY .... 1
1.0 INTRODUCTION .. 3
What is this report about? . 3
The development of the bancassurance channel in Angola is the focus of this report .. 3
Rationale . 3
Sub-Saharan Africa hosts a number of fast-growing financial services markets… . 3
… with bancassurance poised to grow in several of these 4
Methodology . 4
Macro-economics, banking and insurance sectors .. 4
Survey of banks . 4
Market data 5
Definitions .. 5
Investment-related life insurance . 5
Retirement savings .. 6
Risk life insurance . 6
Accident insurance .. 6
Health / hospital cash plans 6
Medical expenses insurance .. 7
Personal motor insurance 7
Household insurance .. 7
Creditor insurance . 7
Travel insurance 7
Agricultural insurance . 8
Commercial insurance 8
Mortgages and consumer finance .. 8
Weighted provider share of partnerships 8
Operating models . 9
Abbreviations and exchange rates .. 9
PartnerBASE 9
Finaccord . 10
2.0 MARKET ANALYSIS .. 11
Macro-economic background .. 11
Gross domestic product and purchasing power parity (PPP) .. 11
As a major oil producer in Africa, Angola's economy has grown strongly in recent years… 11
…but poverty and unemployment remain key challenges .. 11
Total population, age structure and level of urbanisation 12
Angola's population is likely to exceed 25 million by 2020 .. 12
Political risk . 14
Angola has made significant improvements particularly in the area of political stability . 14
Other key indicators .. 15
Life expectancy at birth has moved up at a rate below that achieved elsewhere in sub-Saharan Africa . 15
Telecoms infrastructure has experienced radical changes in recent years .. 16
Introduction to the banking sector . 18
Structure of the banking sector .. 18
By the end of 2013, there were 23 fully-licensed banks operating in Angola 18
… with BPC leading the market in terms of its number of customers… . 18
..and with a number of entities owned by Portugal's large banking groups 18
Development of the banking sector . 20
Both the number of branches and number of accounts have risen substantially since 2005 . 20
Consumer lending .. 22
Having fallen in value in 2010, mortgage balances have grown rapidly since . 22
Non-mortgage consumer lending balances per capita stood at USD 177 as of 2013 . 22
Introduction to the insurance sector . 24
Angola's life insurance market remains at an embryonic stage of development 24
Over a third of the non-life insurance market is composed of accident and health insurance 24
The bancassurance market .. 27
Regulatory environment . 27
There are no particular restrictions in place to stop banks from distributing insurance products… . 27
Importance of bancassurance as a distribution channel . 27
… although the potential of bancassurance has yet to be fully realised… . 27
…even if the market entry of BIC Insurance may be something of a game changer .. 27
Product range, operating models and partnerships of the ten leading banks . 27
Banco Sol is unique in offering stand-alone policies as well as bundled cover 27
Nine insurance types achieve some degree of penetration among the leading ten banks in Angola . 28
There is a simple dichotomy in the operating models used in this context… 29
…with the providers ranked second and third both acting as captive underwriters .. 29
Future outlook 33
The very small life insurance market is set to outgrow its more developed non-life equivalent . 33

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY . 1
Bancassurance in Angola: key data points . 2
1.0 INTRODUCTION .. 3
2.0 MARKET ANALYSIS .. 11
GDP in current prices and PPP (purchasing power parity) per capita in Angola, 2008 to 2020 (forecast) . 12
Total population and level of urbanisation in Angola, 2008 to 2020 (forecast) 13
Population age structure in Angola, 2014 . 13
Key economic indicators for Angola, 2008, 2014 and 2020 (forecast) (table) . 14
Index of political stability, regulatory quality and rule of law in Angola, 1996 to 2012 . 15
Life expectancy at birth in Angola, 2005 to 2013 . 16
Mobile phone subscriptions, fixed broadband subscriptions and fixed phone lines per 100 people in Angola, 2005 to 2013 17
Other key indicators for Angola, 2005 to 2013 (table) 17
Ultimate holding companies and credit ratings of the ten largest retail banking organisations in Angola, 2014 19
Total assets, number of customers and number of branches of the ten largest retail banking organisations in Angola, 2014 19
Number of fully-licensed banks and deposit accounts in Angola, 2005 to 2013 20
Number of branches and ATMs per 100,000 adults in Angola, 2005 to 2013 21
Key banking sector indicators for Angola, 2005 to 2013 (table) .. 21
Residential mortgage lending balances outstanding in Angola (absolute and per capita), 2009 to 2013 .. 22
Consumer non-mortgage lending balances outstanding in Angola (absolute and per capita), 2009 to 2013 23
Key data points for the consumer lending market in Angola, 2009 to 2013 (table) .. 23
Gross written premiums for life and non-life insurance in Angola, 2009 to 2013 .. 24
Gross written premiums per capita and as percentage of GDP in Angola, 2009 to 2013 25
Gross written premiums for life and non-life insurance in Angola, 2009 to 2013 (table) 25
(table) . 25
Segmentation of non-life insurance gross written premiums in Angola, 2013 . 26
Involvement in bancassurance of the ten largest retail banking organisations in Angola: provision of bundled and stand-alone products, 2014 . 28
Overview of provision rates for different types of insurance offered by the ten largest retail banking organisations in Angola, 2014 . 29
Bancassurance in Angola: provision rates, weighted operating models and weighted provider share of partnerships, 2014 . 31
Summary of use of captive and joint venture bancassurance partners by the ten largest retail banking organisations in Angola, 2014 . 32
Summary of use of external bancassurance partners by the ten largest retail banking organisations in Angola, 2014 . 32
Forecast for gross written premiums for life and non-life insurance in Angola to 2020 .. 33

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Bancassurance Global Market Briefing 2017

Bancassurance Global Market Briefing 2017

  • $ 1000
  • Industry report
  • December 2016
  • by TBRC Business Research

Bancassurance refer to selling insurance products and services through banking institutions. This distribution channel includes joint ventures between banks and insurance companies or banks selling insurance ...

Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2020

Non-Life Insurance in Malaysia, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • January 2017
  • by Timetric

Synopsis Timetric’s 'Non-Life Insurance in Malaysia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Malaysian non-life insurance segment, ...

Life Insurance in Malaysia, Key Trends and Opportunities to 2020

Life Insurance in Malaysia, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • January 2017
  • by Timetric

Synopsis Timetric’s 'Life Insurance in Malaysia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Malaysian life insurance segment, including: ...


Download Unlimited Documents from Trusted Public Sources

Life Insurance Industry in India

  • January 2017
    9 pages
  • Life Insurance  

    Insurance  

  • India  

View report >

Insurance Industry in the US - Forecast

  • January 2017
    14 pages
  • Insurance  

  • United States  

    North America  

View report >

Insurance Industry in Africa

  • December 2016
    21 pages
  • Insurance  

  • Africa  

    World  

    Asia  

View report >

Insurance Industry

2 months ago

Related Market Segments :

Bancassurance

ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.