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Zimbabwe Insurance Report Q2 2016

Zimbabwe Insurance Report Q2 2016

BMI View: We have a positive long-term outlook for Zimbabwe's insurance sector, with double-digitgrowth rates from 2018 onwards in both major market segments. In both life and non-life markets, thesegrowth prospects provide ample opportunities for future investment by potential new market entrants. Thefragmented non-life insurance in particular, may see growth in market entries, through acquisitions ofsmaller incumbents, while life insurance is more likely to see new (foreign) players entering throughorganic routes. In spite of our positive view, we are mindful that wider economic issues may hamper growthover the foreseeable future.

Key Updates And Forecasts

Following the recent suspension of three non-life operators, the IPAC has issued further warnings to fourinsurance providers unlikely to fulfil the enhanced capital requirements as introduced per 31 December2015. Over the coming years, this regulatory development may encourage further market consolidationacross especially the fragmented non-life segment - offering a way to survival for struggling players.

Accounting for 57% of total premiums written over 2016, life insurance is expected to outpace non-lifeinsurance in terms of growth potential over the coming 5 years - reaching 59.2% market share in 2020and USD470mn.

Following a decline over 2015, we now have a positive outlook for the non-life segment, non-lifepremiums expected to grow at an increasing rate through the forecast period - achieving double-digitgrowth rates from 2018 onwards and reaching USD324mn in 2020.


BMI Industry View
Table: Headline Insurance Forecasts (Zimbabwe 2013-2020)
SWOT
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Zimbabwe 2013-2020)
Table: Life Insurance Claims (Zimbabwe 2009-2013)
Non-Life Premiums Forecast
Table: Non-Life Premiums (Zimbabwe 2013-2020)
Table: Non-Life Insurance Claims (Zimbabwe 2010-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Zimbabwe 2013-2020)
Insurance Risk/Reward Index
Sub-Saharan Africa Risk/Reward Index
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Life Market Share (USDmn), 2010-2013
Non-life Market Overview
The Product Offering
The Competitive Landscape
Table: Non-Life Market Shares, USD, 2011-2014
Company Profile
Alliance
NICOZ
Nyaradzo
Old Mutual
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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