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Ghana Insurance Report Q4 2017

Ghana Insurance Report Q4 2017

BMI View: The outlook for Ghana's insurance markets is robust, especially since they proved resilient tothe economic downturn of 2014-16. A recovery of economic growth, which our Country Risk team forecastswill exceed 6% in both 2017 and 2018, will help drive continued growth in premiums in both real terms andUSD terms, in a country where the insurance market is relatively underdeveloped compared to the widereconomy. Both the life and non-life sectors will experience average annual growth that reaches doubledigits in percentage terms for both currency classes over the period 2017 to 2021.

Key Updates And Forecasts

We have again made a few changes to our forecasts this quarter. We expect premium growth in the lifesector to total 22.4% in local currency terms in 2017, taking total premiums to GHS1.2bn, ahead of agradual deceleration from this elevated level during the remainder of our forecast period, such thatpremium growth of 15.6% in 2021 takes total premiums written to GHS2.19bn.


BMI Industry View
Table: Headline Insurance Forecasts (Ghana 2014-2021)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Ghana 2014-2021)
Non-Life Premiums Forecast
Table: Non-Life Premiums (Ghana 2014-2021)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums By Product Line (Ghana 2014-2021)
Insurance Risk/Reward Index
Sub-Saharan Africa Insurance Risk/Reward Index
Table: Sub-Saharan Africa Insurance Risk/Reward Index, Q4 2017
Market Overview
Life Market Overview
Product Offering
Competitive Landscape
Table: Company Insurance: Life Insurance Market, 2008-2013 (USDmn)
Non-Life Market Overview
Product Offering
Competitive Landscape
Table: Company Performance: Non-Life Insurance Market, 2008-2013 (USDmn)
Company Profile
Enterprise Life/Enterprise Insurance
GLICO/GGICO
Star Assurance/StarLife
SIC Insurance Group
Methodology
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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