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Finaccord’s report titled Bancassurance in Côte d'Ivoire: 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 Côte d'Ivoire.

In addition to offering a review of key macro-economic metrics in Côte d'Ivoire, 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 Côte d'Ivoire through to 2020.

Table Of Contents

Bancassurance in Côte d'Ivoire: 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 Côte d'Ivoire 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
The outlook for growth in GDP and PPP per capita up to 2020 is very positive ... 11
… albeit GDP per capita was lower in 2013 than it had been in 2000 .. 11
Total population, age structure and level of urbanisation ... 12
Côte d'Ivoire's population grew by around 4 million between 2008 and 2014… .. 12
…helping the urbanisation rate to exceed 50% for the first time ... 12
Political risk 14
Indices of political stability, regulatory quality and rule of law have all improved in recent years . 14
Other key indicators .. 15
Life expectancy at birth is stuck at only 50 years for men and slightly over than for women 15
Mobile phone subscriptions per 100 citizens reached 95.4 in 2013 .. 16

Introduction to the banking sector ... 18
Structure of the banking sector 18
The retail banking sector is dominated by French banks and state-owned entities… .. 18
…with La Caisse d'Épargne ranking first in terms of its number of customers . 18
Development of the banking sector . 20
The number of bank deposit accounts rose by almost ten-fold between 2005 and 2013 20
Consumer lending . 22
Mortgage balances outstanding surged in 2012 and 2013… 22
… with a similar trajectory visible for non-mortgage consumer lending balances 22
Introduction to the insurance sector 24
The Ivorian insurance market grew at a real compound annual rate of 5.3% between 2009 and 2013… .. 24
Motor insurance is the largest segment within the country's non-life insurance sector 24
The bancassurance market . 27
Regulatory environment ... 27
There are no specific restrictions for banks to act as distributors for insurance products . 27
Importance of bancassurance as a distribution channel 27
Banks already enjoy a very significant distribution share in the life insurance sector… ... 27
Product range, operating models and partnerships of the ten leading banks ... 27
… which is a consequence of the activity in this arena of each of the ten leading institutions . 27
The provision of creditor and household insurance policies is particularly widespread… 28
…and risk life insurance is often promoted in a stand-alone format .. 28
Most bancassurance partnerships have been forged with a single, external partner… ... 29
… with La Loyale the most prominent among these according to Finaccord's analysis… ... 29
…albeit Allianz and UA-Vie are also highly visible in this market .. 30
NSIA and Atlantique Assurance are the only captive underwriters identified 30
Future outlook ... 33
The value of the Ivorian insurance market is forecast to more than double from 2013 to 2020… ... 33
… which should bolster further the prospects for the country's bancassurers .. 33

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY ... 1
Bancassurance in Côte d'Ivoire: 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 Côte d'Ivoire, 2008 to 2020 (forecast) ... 12
Total population and level of urbanisation in Côte d'Ivoire, 2008 to 2020 (forecast) 13
Population age structure in Côte d'Ivoire, 2014 .. 13
Key economic indicators for Côte d'Ivoire, 2008, 2014 and 2020 (forecast) (table) . 14
Index of political stability, regulatory quality and rule of law in Côte d'Ivoire, 1996 to 2012 . 15
Life expectancy at birth in Côte d'Ivoire, 2005 to 2013 .. 16
Mobile phone subscriptions, fixed broadband subscriptions and fixed phone lines per 100 people in Côte d'Ivoire, 2005 to 2013 ... 17
Other key indicators for Côte d'Ivoire, 2005 to 2013 (table)... 17
Ultimate holding companies and credit ratings of the ten largest retail banking organisations in Côte d'Ivoire, 2014 19
Total assets, number of customers and number of branches of the ten largest retail banking organisations in Côte d'Ivoire, 2014 ... 19
Number of fully-licensed banks and deposit accounts in Côte d'Ivoire, 2005 to 2013 . 20
Number of branches and ATMs per 100,000 adults in Côte d'Ivoire, 2005 to 2013 21
Key banking sector indicators for Côte d'Ivoire, 2005 to 2013 (table) ... 21
Residential mortgage lending balances outstanding in Côte d'Ivoire (absolute and per capita), 2009 to 2013 .. 22
Consumer non-mortgage lending balances outstanding in Côte d'Ivoire (absolute and per capita), 2009 to 2013 .. 23
Key data points for the consumer lending market in Côte d'Ivoire, 2009 to 2013 (table). 23
Gross written premiums for life and non-life insurance in Côte d'Ivoire, 2009 to 2013 24
Gross written premiums per capita and as percentage of GDP in Côte d'Ivoire, 2009 to 2013 .. 25
Gross written premiums for life and non-life insurance in Côte d'Ivoire, 2009 to 2013 (table) . 25
(table) 25
Segmentation of non-life insurance gross written premiums in Côte d'Ivoire, 2013 . 26
Involvement in bancassurance of the ten largest retail banking organisations in Côte d'Ivoire: 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 Côte d'Ivoire, 2014 29
Bancassurance in Côte d'Ivoire: 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 Côte d'Ivoire, 2014 32
Summary of use of external bancassurance partners by the ten largest retail banking organisations in Côte d'Ivoire, 2014 ... 32
Forecast for gross written premiums for life and non-life insurance in Côte d'Ivoire to 2020 ... 33

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