Executive Summary

The Report titled “Africa Insurance Market Outlook to 2015 - Surge in Insurance Density, Key Medium for Growth” provides an in-depth analysis of the Africa insurance industry. The report covers specific insights on the market size, insurance density, insurance penetration and segmentation, drivers and restraints, recent trends and developments and future outlook of the insurance industry in Africa and in couple of countries including the South Africa and Morocco. The report also entails the market size on the basis of gross insurance premium written in case of life and non-life insurance and market share of various companies at the country level. Overall, the report offers a comprehensive analysis of the entire African insurance industry.

Insurance Industry in Africa

African insurance market is dominated by life insurance segments with ~ % of the insurance premium written in 2009. The distribution channels have also evolved in the region with new medium of bancassurance gaining more popularity. Distribution channel of Brokers and Agents have continued to remain strong with new association coming up in the region.

South Africa is the largest insurance market in Africa which contributed approximately ~ % of the insurance premium in the region. Since the South Africa market is in the growing and developing stage, the growth in the African insurance market is supported by the country’s growth.

The density level of both life and non-life insurance sector is low in the region (USD ~ in 2009). This is largely due to insufficient awareness about the insurance policies, its working, structure and significance in the region.

South Africa

Life insurance market in South Africa is highly developed in terms of the distribution channel, technology and expertise. Life insurance premium written in the country was valued at USD ~ million. It has decreased by ~% in 2009 from USD ~ million in 2008 due to the financial turmoil. It is expected that South Africa will require some time to recover and is expected to get back on track from 2011 onwards. It is estimated that life insurance market will reach USD ~ million by 2011 and USD ~ million by 2015.

Morocco

Morocco insurance market is in the developing and growing stage with gross insurance premium of USD ~ million in 2009. The market has witnessed an historical average growth rate of ~ % from 2001 to 2009. The insurance premium of the country contributed approximately ~ % to the insurance premium of Africa region.

With over ~ million population of Morocco, nearly USD ~ per person was spent on the life insurance policies in 2009. It has approximately increased ~ times from the density level of USD ~ in 2001. It is expected that with the population of ~ million in 2010, the density will be USD ~ in 2010. It is projected to reach to USD ~ by 2015, registering an expected 6 year CAGR of ~ % from 2009 to 2015.

Scope of Research

The report entails thorough analysis, drivers, restraints and market opportunities for insurance industry in the Africa. The scope of the report includes:

The market size of life and non-life insurance industry in terms of gross insurance premium written for Africa and 2 countries (South Africa and Morocco) 2001 to 2015
Life and Non-life insurance density in USD for Africa and for 2 countries, 2001 to 2015
Life and Non-life insurance penetration, premium as a percentage of GDP for Africa and for 2 countries, 2001 to 2015
Market segmentation on the basis of Geography and on the basis of Product for Africa and major 2 countries, 2009 and 2015
Competitive Landscape of the major life and non-life insurers (Wafa Assurance, RMAWatanya, Axa Assurance Maroc, RMAWatanya, Old Mutual, Momentum Group, Santam, Mutual & Federal) in various countries on the basis of gross premium written
In-depth analysis of trends and developments, drivers, restraints and future outlook of the insurance industry in Africa and the major 2 countries
Market opportunities and Future Outlook of the insurance industry in Africa and major 2 countries.

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