Ethiopia Insurance Q4 2018
Similar to other markets in the region, Ethiopia's insurance industry is still in the very earliest stages of development withvery low rates of penetration and density. The market faces significant structural challenges: a substantial proportion of thepopulation still fall into very low income brackets and unemployment (and informal employment) rates are high. The market islargely closed to foreign investors, restricting the competitive landscape to small domestic providers with limited capitalisation andslim product lines. Despite these challenges, Ethiopia's insurance industry does offer growth potential. The country is home to oneof the largest populations regionally (and indeed globally) and economic growth is gradually gaining traction, helping to improveincome rates and increasing demand for a range of life and non-life products.
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