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Zambia Insurance Report Q1 2016

  • November 2015
  • -
  • Business Monitor International
  • -
  • 55 pages

Includes 3 FREE quarterly updates

BMI View: Zambia's insurance market is underdeveloped, with low levels of penetration and density acrossthe life and non-life sectors. There is considerable scope for future development, however, and in localcurrency terms premiums are expected to increase steadily throughout our current forecast period throughto 2019 making this an increasingly attractive investment destination for leading regional and internationalinsurers. The regulatory environment in Zambia is relatively robust and continues to improve, and widereconomic growth, including solid real GDP growth, will support increased demand for a range of life andnon-life products over the longer term. Development of a wider range of products, including, crucially,affordable microinsurance products targeting the many low income households, will be a key driver ofgrowth moving forward.

Key Updates And Forecasts

- The life insurance market is expected to grow rapidly in local currency terms, with premiums expected toincrease from ZMW590mn in 2015 to ZMW880mn in 2019, though in US dollar terms currencyfluctuations mean premiums will be lower by the end of the current forecast period.

- A similar trend will be seen in the larger non-life market, where premiums are forecast to increase fromZMW1.3bn in 2015 to ZMW1.7bn in 2019 while decreasing in US dollar terms from USD154mn toUSD134mn.

Table Of Contents

Zambia Insurance Report Q1 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Zambia 2012-2019) 7
Key Updates And Forecasts 7
Industry Forecast 11
Life Premiums Forecast 11
Latest Updates 11
Structural Trends 11
Table: Life Premiums (Zambia 2012-2019) 14
Table: Life Insurance Claims (Zambia 2007-2013) 15
Non-Life Premiums Forecast 15
Latest Updates 15
Structural Trends 15
Table: Non-Life Premiums (Zambia 2012-2019) 18
Table: Non-Life Insurance Claims (Zambia 2008-2013) 18
Non-Life Sub-Sector Forecast 19
Latest Updates 19
Structural Trends 19
Table: Non Life Insurance Premiums By Product Line (Zambia 2012-2019) 27
Insurance Risk/Reward Index 28
Sub-Saharan Africa Risk/Reward Index 28
Table: Sub-Saharan Africa Insurance Risk/Reward Index 29
Market Overview 31
Life Market Overview 31
The Product Offering 31
The Competitive Landscape 32
Table: Life Market Share (USDmn), 2010-2013 33
Non-Life Market Overview 35
The Product Offering 35
The Competitive Landscape 35
Table: Non-Life Market Shares (USDmn), 2010-2013 37
Company Profile 39
African Life 39
Madison 42
Methodology 49
Industry Forecast Methodology 49
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

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