Zambia Insurance Q4 2018
Our core scenario is for a continued economic recovery to spur real growth in Zambia's insurance markets, with theunderdeveloped life sector outperforming the non-life market. The life insurance market is set for growth in the mid double digitsannually in local currency terms over the next five years, generating scope for market consolidation. The non-life market should stillpush annual growth of close to 10% per year. Premium growth across the various market segments is likely to lag in USD terms as aresult of renewed kwacha softening. The biggest risk remains a renewed downturn in commodity prices, especially in view of a 20%plunge in the copper price over a six week period to late July 2018.
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