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Namibia Insurance Report Q4 2016

  • October 2016
  • -
  • Business Monitor International
  • -
  • 53 pages

Includes 3 FREE quarterly updates

BMI View:

Namibia's insurance market will be affected by depreciation and squeezed household income. While premiums are set to grow in local currency, over the short term the market will contract in US dollars before it shows a slow recovery over the remainder of the forecast period to 2020. On the upside, market penetration will remain strong and personal accident insurance will lead growth, albeit at the expense of life insurance. The market is characterised by a broad range of products on offer and strong distribution channels that are well suited to the local market, which is characterised by low-income households and a small, widely distributed population.


Latest Updates and Developments:

- We have left our forecasts for the life insurance sector unchanged in local currency terms with 7.9% growth expected in 2016, but a weaker depreciation of the Namibian dollar has prompted us to revise the decline in premiums in US dollars from 13.9% to 12.0%.

- We have updated our forecasts to reflect ongoing currency movements and changes in forecasts. In local currency terms, we maintain our growth forecast at 10%, but in US dollar terms the market will contract by 10.3%, revised from 12.3%.

Table Of Contents

Namibia Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Namibia 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Namibia 2013-2020) 11
Table: Life Insurance Claims (Namibia 2008-2013) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Namibia 2013-2020) 16
Table: Non-Life Insurance Claims (Namibia 2009-2014) 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums By Product Line (Namibia 2013-2020) 24
Industry Risk Reward Ratings 26
Industry Risk/Reward Index 26
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q416 26
Market Overview 28
Life Market Overview 28
Product Offering 28
Competitive Landscape 28
Non-Life Market Overview 30
Product Offering 30
Competitive Landscape 31
Company Profile 33
MMI Holdings 33
Old Mutual 37
Sanlam Group 40
Trustco 44
Methodology 47
Industry Forecast Methodology 47
Sector-Specific Methodology 48
Risk/Reward Index Methodology 50
Table: Indicators 52
Table: Weighting of Indicators 53

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