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Zambia Insurance Report Q2 2015


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Zambia Insurance Report Q2 2015

BMI View: In Zambia's insurance sector, strong local currency growth of around 8-10% will be held back by currency weakness that will translate into growth of around 4-5% in USD terms. Motor and property lines will continue to dominate, equating to over 40% of all premiums in the industry, and around twothirds of total non-life premiums. The industry, despite growth and strong regulation, is small even by regional standards, with per capita premiums of less than USD20.

Gross insurance premiums in 2014 reached just USD284mn, following a significant weakening of the kwacha, and will grow in 2015 by 4.8% to USD298mn, again hurt by currency weakness. This rate of growth is expected to continue through to 2019, by which point total premiums will reach USD360mn, equivalent to only USD20 per capita. In local currency terms, performance will be much better, but BMI anticipates ongoing currency weakness relative to a strong dollar throughout the next five years. The relative underdevelopment of the insurance sector, barring a significant uptick in investment, will keep growth rates below overall GDP expansion.


BMI Industry View
SWOT
Political
Economic
Zambia - Operational Risk
Industry Forecast
Total Premiums Forecast
Total Premiums
Table: Total Gross Premiums Written (Zambia 2012-2019)
Net Premiums
Table: Total Net Premiums Written (Zambia 2012-2019)
Reinsurance Premiums
Table: Total Reinsurance Premiums Written (Zambia 2012-2019)
Total Claims
Table: Total Insurance Claims (Zambia 2007-2012)
Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Zambia 2012-2019)
Net Life Premiums
Table: Net Life Premiums Written (Zambia 2012-2019)
Life Insurance Claims
Table: Life Insurance Claims (Zambia 2007-2012)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Zambia 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Zambia 2012-2019)
Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Zambia 2012-2019)
Net Non-Life Premiums
Table: Net Non-Life Premiums Written (Zambia 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Zambia 2007-2012)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Zambia 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Zambia 2012-2019)
Table: Insurance Key Drivers, Autos (Zambia 2012-2019)
Table: Transport Insurance (Zambia 2012-2019)
Property Insurance
Table: Property Insurance (Zambia 2012-2019)
Personal Accident Insurance
Table: Personal Accident Insurance (Zambia 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
Table: Life Market Share, USDmn (2010-2013)
Table: Life Market Share (%), 2010-2013
Non-Life Market Overview
Table: Non-Life Market Share, USDmn (2010-2013)
Table: Non-Life Market Share (%), 2010-2013
Company Profile
African Life
Madison
PICZ
ZSIC
Demographic Forecast
Table: Population Headline Indicators (Zambia 1990-2025)
Table: Key Population Ratios (Zambia 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Zambia 1990-2025)
Table: Population By Age Group (Zambia 1990-2025)
Table: Population By Age Group % (Zambia 1990-2025)
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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