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Zimbabwe Insurance Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 51 pages

Includes 3 FREE quarterly updates

BMI View: We are currently forecasting healthy growth in Zimbabwe's nascent insurance industry, withdouble digit growth expected in both the life and non-life sectors. Retention ratios are high and claimsratios are relatively low, creating a healthy operating environment, however there are shortfalls in theregulatory environment which can create investor uncertainty. The market is also dominated by severallarge firms which limits opportunities for new entrants. We also caution that wider economic issuesalongside political uncertainty have the potential to derail current positive forecasts.

Key Updates and Forecasts

- Updates to the regulatory environment continue with recent reports indicating that three bills to amendinsurance law are due to be presented in parliament by the end of 2015, aimed at improving supervisionand enhancing shareholder restrictions.

- The Insurance And Pensions Commission has issued warnings to four insurance companies likely to fallshort of enhanced capitalisation requirements which come into force on 31 December 2015 for non-lifecompanies and on 31 March 2016 for life companies.

- We are currently forecasting healthy growth in non-life premiums throughout the forecast period leadingto gross premiums written of USD380mn by 2019.

- The slightly larger life sector is expected to show stronger growth leading to gross premiums written ofUSD490mn by the end of the current forecast period.

Table Of Contents

Zimbabwe Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Zimbabwe 2012-2019) 5
SWOT 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Zimbabwe 2012-2019) 11
Table: Life Insurance Claims (Zimbabwe 2009-2013) 12
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Zimbabwe 2012-2019) 14
Table: Non-Life Insurance Claims (Zimbabwe 2010-2013) 15
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (Zimbabwe 2012-2019) 25
Industry Risk Reward Ratings 26
Sub-Saharan Africa Risk/Reward Index 26
Table: Sub-Saharan Africa Insurance Risk/Reward Index 27
Market Overview 29
Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Table: Life Market Share (USDmn), 2010-2013 31
Non-life Market Overview 33
The Product Offering 33
The Competitive Landscape 33
Table: Non-Life Market Share (USDmn), 2011-2013 35
Company Profile 37
Alliance 37
NICOZ 39
Nyaradzo 41
Old Mutual 43
Methodology 45
Industry Forecast Methodology 45
Risk/Reward Index Methodology 48
Table: Indicators 50
Table: Weighting of Indicators 51

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