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Zimbabwe Insurance Report Q3 2016

  • June 2016
  • -
  • Business Monitor International
  • -
  • 51 pages

Includes 3 FREE quarterly updates

BMI View: With annual average growth rates of over 10%, we have a positive long-term outlook forZimbabwe's insurance sector. While we are mindful of the wider economic issues presently faced byZimbabwe, both markets will see particularly strong growth prospects from 2018 onwards, which shouldprovide fruitful opportunities for increased investment and new market entries. Especially in the smallerand more fragmented non-life market, we expect to see some degree of consolidation as new entrants mayseek to establish a rapid presence by acquiring smaller incumbents.

Key Updates And Forecasts

- Life insurance will account for roughly 58% of total insurance premiums written in Zimbabwe over 2016,and is also expected to outpace the non-life segment over the 2016-2020 period - reaching 59.8% marketshare (USD472) in 2020.

- At an annual average growth rate of 9.4%, Zimbabwe's smaller non-life insurance segment is expected togrow slightly less rapidly than the more developed life segment. In 2020, non-life insurance is expectedto reach USD317mn.

- Non-life insurance will remain dominated by motor and property insurance, although they will graduallylose market share to particularly the personal accident line over the course of five year forecast period.This is mainly due to increasing restrictions on governmental spending on general medical treatment inlight of falling economic receipts, which leads to an uptick in demand for personal accident products.

Table Of Contents

Zimbabwe Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Zimbabwe 2013-2020) 5
SWOT 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Zimbabwe 2013-2020) 11
Table: Life Insurance Claims (Zimbabwe 2009-2014) 12
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Zimbabwe 2013-2020) 15
Table: Non-Life Insurance Claims (Zimbabwe 2010-2014) 15
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (Zimbabwe 2013-2020) 26
Insurance Risk/Reward Index 27
Sub-Saharan Africa Risk/Reward Index 27
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q316 27
Market Overview 29
Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Table: Life Market Shares (USDmn), 2011-2014 31
Non-life Market Overview 33
The Product Offering 33
The Competitive Landscape 33
Table: Non-Life Market Shares, USD, 2011-2014 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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