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Namibia Insurance Report Q2 2015


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Namibia Insurance Report Q2 2015

BMI View: Although small on a global scale, Namibia's insurance market is well developed on a regional basis and life insurance penetration in particular is very high, reflecting recent growth in the insurance sector. The market is dominated by local subsidiaries of major South African and global firms, which benefit from an extensive knowledge base and solid capitalisation. With gross premiums written expected to increase steadily over the forecast period, we would expect to see further investment in the industry from international developers which recognise Namibia's growth potential.

We have a positive outlook for insurance premium growth in Namibia in 2015. The wider economy is expected to show robust GDP growth of 4.5%, providing a boost to private financial consumption and creating higher demand for key products such as health insurance and motor vehicle insurance. Gross premiums written are expected to increase by 13.3% in US dollar terms, to reach USD1.1bn. This gives the insurance sector a fairly high penetration rate of 7.5% (gross premiums written as a % of GDP) which reflects the importance of the insurance industry to the domestic economy.


BMI Industry View
SWOT
Insurance
Political
Economic
Operational Risk
Industry Forecast
Total Premiums Forecast
Total Premiums
Table: Total Gross Premiums Written (Namibia 2012-2019)
Total Claims And Assets
Table: Total Insurance Claims (Namibia 2008-2013)
Table: Total Insurance Assets (Namibia 2007-2014)
Life Premiums Forecast
Total Premiums
Table: Gross Life Premiums Written (Namibia 2012-2019)
Key Drivers
Table: Insurance Key Drivers, Private Health Expenditure (Namibia 2012-2019)
Table: Insurance Key Drivers, Disease Adjusted Life Years (Namibia 2012-2019)
Life Claims And Assets
Table: Life Insurance Claims (Namibia 2008-2013)
Table: Assets (Namibia 2007-2013)
Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Namibia 2012-2019)
Table: Net Non-Life Premiums Written (Namibia 2012-2019)
Non-Life Reinsurance
Table: Reinsurance Non-Life Premiums Written (Namibia 2012-2019)
Non-Life Claims And Assets
Table: Non-Life Insurance Claims (Namibia 2007-2013)
Table: Assets (Namibia 2007-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Namibia 2012-2019)
Motor Vehicle And Transport Insurance
Table: Motor Vehicle Insurance (Namibia 2012-2019)
Table: Insurance Key Drivers, Autos (Namibia 2012-2019)
Table: Transport Insurance (Namibia 2012-2019)
Personal Accident Insurance
Table: Personal Accident Insurance (Namibia 2012-2019)
Property Insurance
Table: Property Insurance (Namibia 2012-2019)
Credit/Financial Guarantee Insurance
Table: Credit/Financial Guarantee Insurance (Namibia 2012-2019)
Industry Risk Reward Ratings
Sub-Saharan Africa Risk/Reward Index - Q2 2015
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q2 2015
Market Overview
Life Market Overview
Non-Life Market Overview
Company Profile
Hollard
Liberty Holdings
MMI Holdings
Old Mutual
Sanlam Group
Trustco
Demographic Forecast
Table: Population Headline Indicators (Namibia 1990-2025)
Table: Key Population Ratios (Namibia 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Namibia 1990-2025)
Table: Population By Age Group (Namibia 1990-2025)
Table: Population By Age Group % (Namibia 1990-2025)
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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