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Kenya Insurance Report Q3 2015

84 Pages BMI Research May 06, 2015 SKU: BMI5552900

Kenya Insurance Report Q3 2015

BMI View: Kenya's insurance industry presents both established domestic firms and international insurers,new to the market, with a range of opportunities for growth. The life insurance sector is growing from a lowbase, and with household income rising demand for life insurance is expected to increase steadilythroughout our forecast period to 2019. The larger non-life sector is also benefiting from rising householdincome, and an increasing awareness of the benefits offered by a range of non-life insurance products suchas personal accident and property cover.

Domestic economic growth is boosting demand for a range of life and non-life products, with rising rates ofprivate financial consumption and a growing middle class indicating increased expenditure on health,motor, property and retirement related products in 2015. BMI is forecasting robust GDP growth of 6.3% inKenya in 2015, as the tourism industry regains ground and the country's key agricultural sector sees morepositive growth. This economic growth will drive a leap in private financial consumption, providingopportunities for insurance firms in related sectors such as motor vehicle insurance (with auto sales on theup) and mobile phone insurance (Kenya Orient Insurance has reported a sharp increase in demand for itsnew smart phone insurance products).

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Kenya Insurance Report Q3 2015

BMI Research
May 06, 2015

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Report with 3 quarterly updates
Report with 3 quarterly updates - 3 User License
Report with 3 quarterly updates - 5 User License
Report with 3 quarterly updates - Departmental/Site License
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