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The Insurance Industry in Burundi, Key Trends and Opportunities to 2022

The Insurance Industry in Burundi, Key Trends and Opportunities to 2022

Summary

GlobalData’s The Insurance Industry in Burundi, Key Trends and Opportunities to 2022 report provides detailed analysis of the market trends, drivers and challenges in the Burundian insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Burundian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

The report provides in-depth market analysis, information and insights into the Burundian insurance industry, including -

  • The Burundian insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Burundian economy and demographics
  • Details of the competitive landscape in the Burundian insurance industry
  • The various distribution channels in the Burundian insurance industry
  • Details of regulatory policy applicable to the Burundian insurance industry
  • Analysis of natural hazards in the Burundian insurance industry.
Scope
  • This report provides a comprehensive analysis of the insurance industry in Burundi
  • It provides historical values for the Burundian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
  • It offers a detailed analysis of the key segments in the Burundian insurance industry, with market forecasts to 2022.
  • It covers an exhaustive list of parameters, including written premium and claims.
  • It analyzes the various distribution channels in Burundi.
  • It profiles the top insurance companies in Burundi, and outlines the key regulations affecting them.
Reasons to buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Burundian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Burundian insurance industry.
  • Assess the competitive dynamics in the Burundian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Burundian insurance industry and their impact on companies and the industry's future.


1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Industry Outlook
4.1 Industry Indicators
4.1.1 Direct written premium
4.1.2 Insurance density
4.1.3 Paid claims
5 Life Insurance Outlook
5.1 Segment Indicators
5.1.1 Direct written premium
5.1.2 Paid claims
5.1.3 Penetration
6 General Insurance Outlook
6.1 Segment Indicators
6.1.1 Direct written premium
6.1.2 Penetration
7 Reinsurance Outlook
7.1 Premium Ceded
8 Distribution Channel Outlook
9 Natural and Man-Made Hazards
9.1 Flooding
9.2 Landslides
9.3 Exposure
10 Competitive Landscape
10.1 Company Profiles
10.1.1 Burundi Insurance Corporation (BICOR) - company overview
10.1.2 Commercial Insurance and Reinsurance Company (SOCAR) - company overview
10.1.3 General Insurance And Reinsurance Company (SOGEAR) - company overview
10.1.4 Insurance Company of Burundi (SOCABU) - company overview
10.1.5 Commercial Insurance and Reinsurance Union of Burundi (UCAR) - company overview
11 Governance, Risk and Compliance
11.1 Legislation Overview and Historical Evolution
11.2 Latest Changes in Regulation
11.3 Legislation and Market Practice by Type of Insurance
11.3.1 Life insurance
11.3.2 Property insurance
11.3.3 Motor insurance
11.3.4 Liability insurance
11.3.5 Marine, aviation and transit insurance
11.3.6 Personal accident and health insurance
11.4 Compulsory Insurance
11.4.1 Motor third-party liability insurance
11.4.2 Professional indemnity insurance for doctors
11.4.3 Professional indemnity insurance for lawyers
11.4.4 Civil liability insurance for operators of commercial buildings against fire or explosion
11.4.5 Insurance for administrative buildings against fire or explosion
11.4.6 Construction risk insurance
11.4.7 Financial guarantee/professional liability insurance for insurance intermediaries
11.4.8 Insurance for import of goods
11.5 Supervision and Control
11.5.1 The African Insurance Organization
11.5.2 Agency of Regulation and Insurance Supervision
11.6 Non-Admitted Insurance Regulations
11.6.1 Overview
11.6.2 Intermediaries
11.6.3 Market practices
11.6.4 Fines and Penalties
11.7 Company Registration and Operations
11.7.1 Type of insurance organization
11.7.2 Establishing a local company
11.7.3 Foreign ownership
11.7.4 Types of license
11.7.5 Capital requirements
11.7.6 Solvency margin
11.7.7 Reserve requirements
11.7.8 Investment regulations
11.7.9 Statutory return requirements
11.7.10 Fee structure
11.8 Taxation
11.8.1 Insurance premium or policy taxation
11.8.2 Withholding taxes on premium paid overseas
11.8.3 Corporate tax
11.8.4 VAT
11.8.5 Captives
11.9 Legal System
11.9.1 Introduction
11.9.2 Access to court
11.9.3 Alternative dispute resolution
12 Databook
12.1 Life Insurance
12.1.1 Policies and premium
12.1.2 Claims and expenses
12.2 General Insurance
12.2.1 Policies and premium
12.2.2 Claims and expenses
13 Definitions and Methodology
13.1 Definitions
13.2 Methodology
14 About GlobalData
14.1 Contact GlobalData
14.2 About GlobalData
14.3 GlobalData’s Services
14.4 Disclaimer
List of Tables
Table 1: Burundian Insurance Industry - Key Facts,
Table 2: Burundian Insurance Industry - Industry Shares of the Top Insurers,
Table 3: Burundian Insurance Industry - Direct Written Premium (BIF Billion and US$ Million), 2013-
Table 4: Burundian Insurance Industry - Direct Written Premium (BIF Billion and US$ Million), 2017-
Table 5: Burundian Insurance Industry - Density (BIF and US$), 2013-
Table 6: Burundian Insurance Industry - Density (BIF and US$), 2017-
Table 7: Burundian Insurance Industry - Paid Claims (BIF Billion and US$ Million), 2013-
Table 8: Burundian Insurance Industry - Paid Claims (BIF Billion and US$ Million), 2017-
Table 9: Burundian Life Insurance - Direct Written Premium (BIF Billion and US$ Million), 2013-
Table 10: Burundian Life Insurance - Direct Written Premium (BIF Billion and US$ Million), 2017-
Table 11: Burundian Life Insurance - Paid Claims (BIF Billion and US$ Million), 2013-
Table 12: Burundian Life Insurance - Paid Claims (BIF Billion and US$ Million), 2017-
Table 13: Burundian General Insurance - Direct Written Premium (BIF Billion and US$ Million), 2013-
Table 14: Burundian General Insurance - Direct Written Premium (BIF Billion and US$ Million), 2017-
Table 15: Burundian Reinsurance - Premium Ceded by Insurance Segment (BIF Billion), 2013-
Table 16: Burundian Reinsurance - Premium Ceded by Insurance Segment (BIF Billion), 2017-
Table 17: Burundian Insurance Industry - Leading Insurers,
Table 18: Burundi Insurance Corporation (BICOR) - Key Facts
Table 19: Commercial Insurance and Reinsurance Company (SOCAR) - Key Facts
Table 20: General Insurance And Reinsurance Company (SOGEAR) - Key Facts
Table 21: Insurance Company Of Burundi (SOCABU) - Key Facts
Table 22: Commercial Insurance and Reinsurance Union of Burundi (UCAR) - Key Facts
Table 23: Burundi - Insurance Regulatory Framework Key Features
Table 24: Burundi - Non-life Insurance - Commission Rates for Insurance Brokers
Table 25: Burundi - Fees for Services Rendered by the ARCA
Table 26: Burundi - Life Insurance Regulatory Framework
Table 27: Burundi - Property Insurance Regulatory Framework
Table 28: Burundi - Motor Insurance Regulatory Framework
Table 29: Burundi - Liability Insurance Regulatory Framework
Table 30: Burundi - Corporate Tax Rates for the Financial Year
Table 31: Burundian Life Insurance - Policies and Premium, 2013-
Table 32: Burundian Life Insurance - Policies and Premium, 2017-
Table 33: Burundian Life Insurance - Claims and Expenses, 2013-
Table 34: Burundian Life Insurance - Claims and Expenses, 2017-
Table 35: Burundian General Insurance - Policies and Premium, 2013-
Table 36: Burundian General Insurance - Policies and Premium, 2017-
Table 37: Burundian General Insurance - Claims and Expenses, 2013-
Table 38: Burundian General Insurance - Claims and Expenses, 2017-
Table 39: Insurance Industry Definitions
List of Figures
Figure 1: Burundian Real GDP (BIF Trillion), 2013-
Figure 2: Burundian Exchange Rate (BIF per US$), 2013-
Figure 3: Burundian Consumer Price Inflation (%), 2013-
Figure 4: Burundian Current Account Balance (% of GDP), 2013-
Figure 5: Burundian Population by Age Group, 2013-
Figure 6: Burundian Insurance Industry - Direct Written Premium (BIF Billion), 2013-
Figure 7: Burundian Insurance Industry - Density (BIF), 2013-
Figure 8: Burundian Insurance Industry - Paid Claims (BIF Billion), 2013-
Figure 9: Burundian Life Insurance - Direct Written Premium (BIF Billion), 2013-
Figure 10: Burundian Life Insurance - Paid Claims (BIF Billion), 2013-
Figure 11: Burundian Life Insurance - Penetration (%), 2013-
Figure 12: Burundian Life Insurance - Penetration (%), 2017-
Figure 13: Burundian General Insurance - Direct Written Premium (BIF Billion), 2013-
Figure 14: Burundian General Insurance - Penetration (%), 2013-
Figure 15: Burundian General Insurance - Penetration (%), 2017-
Figure 16: Burundian Reinsurance - Premium Ceded by Insurance Segment (BIF Billion), 2013-
Figure 17: Burundi - Insurance Supervision and Control at Various Levels
Figure 18: Burundi - Insurance Regulatory Frameworks for Company Registration and Operation

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