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Kenya Insurance Report Q1 2016

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

Includes 3 FREE quarterly updates

BMI View: Kenya's non life market is relatively well established, though coverage remains low andpenetration is restricted compared to more mature markets. The life insurance market is less welldeveloped,hampered by low household income levels and a general lack of demand for retirement and laterin life savings products due to the low life expectancy rate in the country. Moving forward, wider economicgrowth will support an expansion in both life and non-life premiums throughout our forecast period,making Kenya's insurance sector an increasingly attractive prospect for regional and internationalinsurance providers.

Key Updates and Forecasts

-Kenya's Insurance Regulatory Authority has reportedly formed an agreement with Namibia's FinancialInstitutions Supervisory Authority to share information in order to facilitate the entry or expansion ofKenyan insurance firms into the Namibian market.
-Kenya Deposit Insurance Corporation has been appointed to take over management of Imperial Bankwhich was taken over by regulators and placed under statutory management.
-Britam will reportedly spend KES3bn on a new IT system to unify operating practices across itsbusinesses in seven markets (Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique andMalawi) as part of group strategy to expand in the region.

Table Of Contents

Kenya Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Kenya 2012-2019) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Kenya 2012-2019) 12
Table: Life Insurance Claims (Kenya 2007-2014) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Kenya 2012-2019) 16
Table: Non-Life Insurance Claims (Kenya 2008-2014) 18
Non-Life Sub-Sector Forecast 18
Table: Non Life Insurance Premiums by Product Line (Kenya 2012-2019) 27
Industry Risk Reward Ratings 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 33
Table: Company Performance: Life Insurance Market (USDmn) 2007-2014 34
Non-Life Market Overview 35
The Product Offering 35
The Competitive Landscape 36
Table: COMPANY PERFORMANCE: Non-Life Insurance Market (USDmn) 2007-2014 38
Company Profile 40
British American Insurance Company (Kenya) 40
Jubilee Insurance 43
Liberty Holdings 46
MMI Holdings 49
Old Mutual 52
Pan Africa Life Assurance 55
Methodology 58
Industry Forecast Methodology 58
Risk/Reward Index Methodology 61
Table: Indicators 63
Table: Weighting of Indicators 64

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