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  4. > Kenya Insurance Report Q4 2016

Kenya Insurance Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 68 pages

Includes 3 FREE quarterly updates

BMI View:
We maintain our bullish outlook for the Kenyan insurance sector as a whole, with significantupward revisions to our life sector forecasts over the last quarter. We maintain our expectation that thenon-life sectors will post robust and explosive growth over the course of our forecast period out to 2020,with some modest tweaks since our last update. Increases in average household income rates, as well aswider economic growth, is driving demand across the board, although there are some risks to the coreexpectation of continued strong economic growth, especially in terms of a widening government deficit andweaknesses in the private financial sector.

Key Updates And Forecasts
We now expect the life sector to register growth in gross annual premiums of 13.4% in 2016, taking totalpremiums written to KES70.4bn, while we expect growth in USD terms of 7.0% this year. Across theperiod 2016-2020, we anticipate strong annual double digit returns in KES terms and just over 10% per yeargrowth in USD terms.

- Our non-life forecasts were already very bullish and we've made some further tweaks this quarter, withgross premiums set to rise by 15.7% in 2016 to KES127.8bn (and 9.2% in USD terms to USD1.2bn),with most sub-sectors benefiting from an accelerating economic growth rate, which is stoking strongerconsumer demand.

Table Of Contents

Kenya Insurance Report Q4 2016
BMI Industry View 7
BMI View 7
Table: Headline Insurance Forecasts (Kenya 2013-2020) 7
Insurance 9
Industry Forecast 11
Life Premiums Forecast 11
Table: Life Premiums (Kenya 2013-2020) 15
Table: Life Insurance Claims (Kenya 2008-2015) 15
Non-Life Premiums Forecast 16
Table: Non-Life Premiums (Kenya 2013-2020) 19
Table: Non-Life Insurance Claims (Kenya 2009-2015) 21
Non-Life Sub-Sector Forecast 22
Table: Non-Life Insurance Premiums by Product Line (Kenya 2013-2020) 31
Insurance Risk/Reward Index 33
Sub-Saharan Africa Risk/Reward Index 33
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q416 33
Market Overview 35
Life Market Overview 35
The Product Offering and Regulatory Environment 35
The Competitive Landscape 36
Table: Company Performance: Life Insurance Market (USDmn) 2008-2014 38
Non-Life Market Overview 39
The Product Offering 39
The Competitive Landscape 40
Table: Non-Life Insurance Market (USDmn) 2008-2014 42
Company Profile 44
British American Insurance Company (Kenya) 44
Jubilee Insurance 47
Liberty Holdings 50
MMI Holdings 53
Old Mutual 56
Pan Africa Life Assurance 59
Methodology 62
Industry Forecast Methodology 62
Risk/Reward Index Methodology 65
Table: Indicators 67
Table: Weighting of Indicators 68

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