Kenya Insurance Report Q1 2015

  • December 2014
  • -
  • Business Monitor International
  • -
  • 79 pages

Includes 3 FREE quarterly updates

BMI View :

The outlook for Kenya's insurance market is increasingly positive, with substantial growth reported across a range of life and non-life insurance products in recent months. With healthy economic growth forecast for the next few years and private financial consumption increasingly steadily, we expect to see double digit premium growth throughout the forecast period through to 2018. As the market matures and develops, we expect to see more global players enter the field and a process of market consolidation. There are some significant challenges facing the insurance market in Kenya. Much of the population lives below the poverty line and there is little awareness of, or appetite for, long-term investment or savings products which restricts potential growth in the life sector. The launch of a revised mandatory state pension system in mid-2014 may go some way towards educating the public as to the benefits of pension planning, and as economic growth fuels private financial consumption we expect to see the life insurance market increase over the next few years.

Table Of Contents

Kenya Insurance Report Q1 2015
BMI Industry View 7
SWOT 9
Insurance 9
Political 11
Economic 12
Industry Forecast 13
Total Premiums Forecast 13
Total Premiums 13
Table: Total Gross Premiums Written (Kenya 2011-2018) 14
Table: Total Net Premiums Written (Kenya 2011-2018) 14
Reinsurance Premiums 14
Table: Total Reinsurance Premiums Written (Kenya 2011-2018) 15
Total Claims 15
Table: Total Insurance Claims (Kenya 2006-2013) 16
Assets And Liabilities 16
Table: Total Insurance Assets (Kenya 2006-2013) 16
Table: Total Insurance Liabilities (Kenya 2006-2013) 17
Life Premiums Forecast 17
Total Life Premiums 17
Table: Gross Life Premiums Written (Kenya 2011-2018) 18
Table: Net Life Premiums Written (Kenya 2011-2018) 19
Life Reinsurance 19
Table: Reinsurance Life Premiums Written (Kenya 2011-2018) 19
Life Insurance Drivers 20
Table: Insurance Key Drivers, Private Health Expenditure (Kenya 2011-2018) 20
Table: Insurance Key Drivers, Disease Adjusted Life Years (Kenya 2011-2018) 21
Life Claims 21
Table: Life Insurance Claims (Kenya 2006-2013) 22
Non-Life Premiums Forecast 22
Non-Life Premiums 23
Table: Gross Non-Life Premiums Written (Kenya 2011-2018) 24
Table: Net Non-Life Premiums Written (Kenya 2011-2018) 24
Reinsurance Premiums 25
Table: Reinsurance Non-Life Premiums Written (Kenya 2011-2018) 25
Non-Life Claims 25
Table: Non-Life Insurance Claims (Kenya 2006-2013) 26
Non-Life Sub-Sector Forecast 26
Table: Non-Life % Breakdown (Kenya 2011-2018) 27
Motor Vehicle And Transport Insurance 28
Table: Motor Vehicle Insurance (Kenya 2011-2018) 29
Table: Insurance Key Drivers, Autos (Kenya 2011-2018) 30
Table: Transport Insurance (Kenya 2011-2018) 31
Table: Insurance Key Drivers, Freight Tonnage (Kenya 2011-2018) 31
Property Insurance 31
Table: Property Insurance (Kenya 2011-2018) 32
Personal Accident Insurance 32
Table: Personal Accident Insurance (Kenya 2011-2018) 33
Industry Risk Reward Ratings 34
Sub-Saharan Africa Risk/Reward Index Q1 2015 34
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q1 2015 35
Market Overview 37
Life Market Overview 37
Table: Life Insurance Market (USDmn) 2006-2013 39
Table: Life Insurance Market (%) 2006-2013 40
Non-Life Market Overview 41
Table: Non-Life Insurance Market (USDmn) 2006-2013 44
Table: Non-Life Insurance Market (%) 2006-2013 45
Company Profile 47
British American Insurance Company (Kenya) 47
Jubilee Insurance 50
Liberty Holdings 54
MMI Holdings 57
Old Mutual 61
Pan Africa Life Assurance 65
Demographic Forecast 68
Table: Population Headline Indicators (Kenya 1990-2025) 69
Table: Key Population Ratios (Kenya 1990-2025) 69
Table: Urban/Rural Population and Life Expectancy (Kenya 1990-2025) 70
Table: Population By Age Group (Kenya 1990-2025) 70
Table: Population By Age Group % (Kenya 1990-2025) 71
Methodology 73
Industry Forecast Methodology 73
Risk/Reward Index Methodology 76
Table: Indicators 78
Table: Weighting of Indicators 79

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