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

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

Summary

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

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

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Malian 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.

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

  • The industry's growth prospects by segment and category
  • A comprehensive overview of the Malian economy and demographics
  • Details of the competitive landscape in the industry
  • The various distribution channels in the industry
  • Details of regulatory policy applicable to the industry
  • Analysis of natural hazards in the industry
Key Highlights
  • In 2017, the general insurance segment accounted for 77.5% of the industry’s direct written premium, while life insurance accounted for 22.5%.
  • In April 2016, registered capital requirements for direct insurers increased from XOF1.0 billion (US$1.6 million) to XOF5.0 billion (US$8.4 million).
  • Effective from May 2018, the Conference Interafricaine des Marchés d'Assurances Code amended the reserve requirements for life insurers, ensuring that they are always in a position to fulfill their obligations.
  • General insurance is driven by a large number of compulsory classes such as motor third-party liability (MTPL), airport operator’s liability, insurance on imports, decennial insurance and workers compensation.
  • As of 2016, there were three life insurers and eight general insurers operating in Mali.
Scope
  • This report provides a comprehensive analysis of the insurance industry in Mali.
  • It provides historical values for the Malian 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 Malian 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 Mali.
  • It profiles the top insurance companies in Mali, 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 Malian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the industry.
  • Assess the competitive dynamics in the industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the 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 Direct written premium
4.2 Insurance density
4.3 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
5.1.4 Assets and investments
6 GENERAL INSURANCE OUTLOOK
6.1 Segment Indicators
6.1.1 Direct written premium
6.1.2 Paid claims
6.1.3 Penetration
6.1.4 Loss ratio
6.1.5 Assets and investments
6.2 Property Insurance
6.2.1 Direct written premium
6.2.2 Penetration
6.2.3 Profitability
6.3 Motor Insurance
6.3.1 Direct written premium
6.3.2 Penetration
6.3.3 Profitability
6.4 Liability Insurance
6.4.1 Direct written premium
6.4.2 Penetration
6.4.3 Profitability
6.5 Marine, Aviation and Transit Insurance
6.5.1 Direct written premium
6.5.2 Penetration
6.5.3 Profitability
6.6 Personal Accident and Health Insurance
6.6.1 Direct written premium
6.6.2 Penetration
6.6.3 Profitability
6.7 Miscellaneous
6.7.1 Direct written premium
6.7.2 Penetration
6.7.3 Profitability
7 REINSURANCE OUTLOOK
7.1 Reinsurance Accepted
7.2 Premium Ceded
8 DISTRIBUTION CHANNEL OUTLOOK
9 NATURAL AND MAN-MADE HAZARDS
9.1 Flooding
9.2 Droughts
9.3 Sandstorms
9.4 Man-made disasters
9.5 Epidemics
9.6 Exposure
10 COMPETITIVE LANDSCAPE
10.1 Company Profiles
10.1.1 Saham Assurances - company overview
10.1.2 Les Assurances Bleues CNAR - company overview
10.1.3 Societe Nouvelle d'Assurance Vie - company overview
10.1.4 Allianz Mali Assurances - company overview
10.1.5 Assurances Lafia SA - 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 insurance intermediaries
11.4.3 Worker’s compensation insurance
11.5 Supervision and Control
11.5.1 International Association of Insurance Supervisors
11.5.2 Commission Regional des Assurances
11.5.3 Direction Nationale du Trésor et de la Comptabilité Publique
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
12.1.3 Assets and investments
12.2 General Insurance
12.2.1 Policies and premium
12.2.2 Claims and expenses
12.2.3 Assets and investments
12.2.4 Property insurance
12.2.5 Property insurance by category
12.2.6 Motor insurance
12.2.7 Motor insurance by category
12.2.8 Liability insurance
12.2.9 Marine, aviation and transit insurance
12.2.10 Marine, aviation and transit insurance by category
12.2.11 Personal accident and health insurance
12.2.12 Miscellaneous
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: Malian Insurance Industry - Key Facts, 2017
Table 2: Malian Insurance Industry - Industry Shares of the Top Insurers, 2016
Table 3: Malian Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 4: Malian Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 5: Malian Insurance Industry - Density (XOF), 2013-2017
Table 6: Malian Insurance Industry - Density (XOF), 2017-2022
Table 7: Malian Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 8: Malian Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 9: Malian Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 10: Malian Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 11: Malian Life Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 12: Malian Life Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 13: Malian Life Insurance - Total Investment Income (XOF Million and US$ Million), 2013-2017
Table 14: Malian Life Insurance - Total Investment Income (XOF Million and US$ Million), 2017-2022
Table 15: Malian Life Insurance - Investment Portfolio (XOF Billion), 2013-2017
Table 16: Malian Life Insurance - Investment Portfolio (XOF Billion), 2017-2022
Table 17: Malian General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 18: Malian General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 19: Malian General Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 20: Malian General Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 21: Malian General Insurance - Total Investment Income (XOF Million and US$ Million), 2013-2017
Table 22: Malian General Insurance - Total Investment Income (XOF Million and US$ Million), 2017-2022
Table 23: Malian General Insurance - Investment Portfolio (XOF Billion), 2013-2017
Table 24: Malian General Insurance - Investment Portfolio (XOF Billion), 2017-2022
Table 25: Malian Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 26: Malian Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 27: Malian Property Insurance - Loss Ratio (%), 2013-2017
Table 28: Malian Property Insurance - Loss Ratio (%), 2017-2022
Table 29: Malian Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 30: Malian Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 31: Malian Motor Insurance - Loss Ratio (%), 2013-2017
Table 32: Malian Motor Insurance - Loss Ratio (%), 2017-2022
Table 33: Malian Liability Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 34: Malian Liability Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 35: Malian Liability Insurance - Loss Ratio (%), 2013-2017
Table 36: Malian Liability Insurance - Loss Ratio (%), 2017-2022
Table 37: Malian Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 38: Malian Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 39: Malian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017
Table 40: Malian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022
Table 41: Malian Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 42: Malian Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 43: Malian Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
Table 44: Malian Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
Table 45: Malian Miscellaneous - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 46: Malian Miscellaneous - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 47: Malian Miscellaneous - Loss Ratio (%), 2013-2017
Table 48: Malian Miscellaneous - Loss Ratio (%), 2017-2022
Table 49: Malian Reinsurance - Premium Accepted by Category (XOF Million), 2013-2017
Table 50: Malian Reinsurance - Premium Accepted by Category (XOF Million), 2017-2022
Table 51: Malian Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2017
Table 52: Malian Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2017-2022
Table 53: Malian Insurance Industry - Market Shares of Leading Insurers (%), 2016
Table 54: Malian Insurance Industry - Market Shares of Leading Life Insurers (%), 2016
Table 55: Malian Insurance Industry - Market Shares of Leading General Insurers (%), 2016
Table 56: Saham Assurances - Key Facts
Table 57: Les Assurances Bleues CNAR - Key Facts
Table 58: Societe Nouvelle d'Assurance Vie - Key Facts
Table 59: Allianz Mali Assurances - Key Facts
Table 60: Assurances Lafia SA - Key Facts
Table 61: Mali - Insurance Regulatory Framework Key Features
Table 62: Mali - Life Insurance Regulatory Framework
Table 63: Mali - Property Insurance Regulatory Framework
Table 64: Mali - Motor Insurance Regulatory Framework
Table 65: Mali - Liability Insurance Regulatory Framework
Table 66: Mali - Insurance Premium Tax Rates
Table 67: Mali - Corporate Tax Rates for the Financial Year 2017
Table 68: Malian Life Insurance - Policies and Premium, 2013-2017
Table 69: Malian Life Insurance - Policies and Premium, 2017-2022
Table 70: Malian Life Insurance - Claims and Expenses, 2013-2017
Table 71: Malian Life Insurance - Claims and Expenses, 2017-2022
Table 72: Malian Life Insurance - Assets and Investments, 2013-2017
Table 73: Malian Life Insurance - Assets and Investments, 2017-2022
Table 74: Malian General Insurance - Policies and Premium, 2013-2017
Table 75: Malian General Insurance - Policies and Premium, 2017-2022
Table 76: Malian General Insurance - Claims and Expenses, 2013-2017
Table 77: Malian General Insurance - Claims and Expenses, 2017-2022
Table 78: Malian General Insurance - Assets and Investments, 2013-2017
Table 79: Malian General Insurance - Assets and Investments, 2017-2022
Table 80: Malian General Insurance - Property Insurance, 2013-2017
Table 81: Malian General Insurance - Property Insurance, 2017-2022
Table 82: Malian General Insurance - Property Insurance by Category, 2013-2017
Table 83: Malian General Insurance - Property Insurance by Category, 2017-2022
Table 84: Malian General Insurance - Motor Insurance, 2013-2017
Table 85: Malian General Insurance - Motor Insurance, 2017-2022
Table 86: Malian General Insurance - Motor Insurance by Category, 2013-2017
Table 87: Malian General Insurance - Motor Insurance by Category, 2017-2022
Table 88: Malian General Insurance - Liability Insurance, 2013-2017
Table 89: Malian General Insurance - Liability Insurance, 2017-2022
Table 90: Malian General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
Table 91: Malian General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
Table 92: Malian General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017
Table 93: Malian General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022
Table 94: Malian General Insurance - Personal Accident and Health Insurance, 2013-2017
Table 95: Malian General Insurance - Personal Accident and Health Insurance, 2017-2022
Table 96: Malian General Insurance - Miscellaneous, 2013-2017
Table 97: Malian General Insurance - Miscellaneous, 2017-2022
Table 98: Insurance Industry Definitions
List of Figures
Figure 1: Malian Real GDP (XOF Trillion), 2013-2022
Figure 2: Malian Exchange Rate (XOF per US$), 2013-2022
Figure 3: Malian Consumer Price Inflation (%), 2013-2022
Figure 4: Malian Current Account Balance as Percentage of GDP (%), 2013-2022
Figure 5: Malian Unemployment Rate, 2013-2022
Figure 6: Malian Population by Age Group, 2013-2022
Figure 7: Malian Insurance Industry - Direct Written Premium (XOF Billion), 2013-2022
Figure 8: Malian Insurance Industry - Density (XOF), 2013-2022
Figure 9: Malian Insurance Industry - Paid Claims (XOF Billion), 2013-2022
Figure 10: Malian Life Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 11: Malian Life Insurance - Paid Claims (XOF Billion), 2013-2022
Figure 12: Malian Life Insurance - Penetration (%), 2013-2017
Figure 13: Malian Life Insurance - Penetration (%), 2017-2022
Figure 14: Malian Life Insurance - Total Investment Income (XOF Million), 2013-2022
Figure 15: Malian Life Insurance - Investment Portfolio (XOF Billion), 2013-2022
Figure 16: Malian Life Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
Figure 17: Malian General Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 18: Malian General Insurance - Paid Claims (XOF Billion), 2013-2022
Figure 19: Malian General Insurance - Penetration (%), 2013-2017
Figure 20: Malian General Insurance - Penetration (%), 2017-2022
Figure 21: Malian General Insurance - Loss Ratio (%), 2013-2017
Figure 22: Malian General Insurance - Loss Ratio (%), 2017-2022
Figure 23: Malian General Insurance - Total Investment Income (XOF Million), 2013-2022
Figure 24: Malian General Insurance - Investment Portfolio (XOF Billion), 2013-2022
Figure 25: Malian General Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
Figure 26: Malian Property Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 27: Malian Property Insurance - Penetration (%), 2013-2017
Figure 28: Malian Property Insurance - Penetration (%), 2017-2022
Figure 29: Malian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 30: Malian Motor Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 31: Malian Motor Insurance - Penetration (%), 2013-2017
Figure 32: Malian Motor Insurance - Penetration (%), 2017-2022
Figure 33: Malian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 34: Malian Liability Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 35: Malian Liability Insurance - Penetration (%), 2013-2017
Figure 36: Malian Liability Insurance - Penetration (%), 2017-2022
Figure 37: Malian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 38: Malian Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 39: Malian Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
Figure 40: Malian Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
Figure 41: Malian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 42: Malian Personal Accident and Health Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 43: Malian Personal Accident and Health Insurance - Penetration (%), 2013-2017
Figure 44: Malian Personal Accident and Health Insurance - Penetration (%), 2017-2022
Figure 45: Malian Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 46: Malian Miscellaneous - Direct Written Premium (XOF Billion), 2013-2022
Figure 47: Malian Miscellaneous - Penetration (%), 2013-2017
Figure 48: Malian Miscellaneous - Penetration (%), 2017-2022
Figure 49: Malian Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 50: Malian Reinsurance - Premium Accepted by Category (XOF Million), 2013-2022
Figure 51: Malian Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2022
Figure 52: Malian Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
Figure 53: Malian General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
Figure 54: Malian Insurance Industry - Market Shares of Leading Insurers (%), 2016
Figure 55: Malian Insurance Industry - Market Shares of Leading Life Insurers (%), 2016
Figure 56: Malian Insurance Industry - Market Shares of Leading General Insurers (%), 2016
Figure 57: Mali - Insurance Supervision and Control at Various Levels
Figure 58: Mali - Insurance Regulatory Frameworks for Company Registration and Operation

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