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

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

Summary

GlobalData’s The Insurance Industry in Niger, Key Trends and Opportunities to 2022 report provides detailed analysis of the market trends, drivers and challenges in the Nigerien 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 Nigerien 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 Nigerien insurance industry, including -

  • The Nigerien insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Nigerien economy and demographics
  • Details of the competitive landscape in the Nigerien insurance industry
  • The various distribution channels in the Nigerien insurance industry
  • Details of regulatory policy applicable to the Nigerien insurance industry
  • Analysis of natural hazards in the Nigerien insurance industry.
Scope
  • This report provides a comprehensive analysis of the insurance industry in Niger
  • It provides historical values for the Nigerien 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 Nigerien 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 Niger.
  • It profiles the top insurance companies in Niger, 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 Nigerien insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Nigerien insurance industry.
  • Assess the competitive dynamics in the Nigerien insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Nigerien 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
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 Locusts
9.4 Man-made Disasters
9.5 Exposure
10 Competitive Landscape
10.1 Company Profiles
10.1.1 Compagnie d'Assurances et de Reassurances du Niger - company overview
10.1.2 Societe Nigerienne d'Assurances et de Reassurances - company overview
10.1.3 Sunu Assurances Vie Niger - company overview
10.1.4 La Nigerienne d'Assurances et de Reassurances - company overview
10.1.5 Sunu Assurances IARD Niger - 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
11.5 Supervision and Control
11.5.1 International Association of Insurance Supervisors
11.5.2 Commission Regional des Assurances
11.5.3 Direction des Assurances
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: Nigerien Insurance Industry - Key Facts,
Table 2: Nigerien Insurance Industry - Market Shares of the Top Insurers,
Table 3: Nigerien Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2013-
Table 4: Nigerien Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2017-
Table 5: Nigerien Insurance Industry - Density (XOF), 2013-
Table 6: Nigerien Insurance Industry - Density (XOF), 2017-
Table 7: Nigerien Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2013-
Table 8: Nigerien Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2017-
Table 9: Nigerien Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-
Table 10: Nigerien Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-
Table 11: Nigerien Life Insurance - Paid Claims (XOF Billion and US$ Million), 2013-
Table 12: Nigerien Life Insurance - Paid Claims (XOF Billion and US$ Million), 2017-
Table 13: Nigerien Life Insurance - Total Investment Income (XOF Million and US$ Thousands), 2013-
Table 14: Nigerien Life Insurance - Total Investment Income (XOF Million and US$ Thousands), 2017-
Table 15: Nigerien Life Insurance - Investment Portfolio (XOF Billion), 2013-
Table 16: Nigerien Life Insurance - Investment Portfolio (XOF Billion), 2017-
Table 17: Nigerien General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-
Table 18: Nigerien General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-
Table 19: Nigerien General Insurance - Paid Claims (XOF Billion and US$ Million), 2013-
Table 20: Nigerien General Insurance - Paid Claims (XOF Billion and US$ Million), 2017-
Table 21: Nigerien General Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-
Table 22: Nigerien General Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-
Table 23: Nigerien General Insurance - Investment Portfolio (XOF Billion), 2013-
Table 24: Nigerien General Insurance - Investment Portfolio (XOF Billion), 2017-
Table 25: Nigerien Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-
Table 26: Nigerien Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-
Table 27: Nigerien Property Insurance - Loss Ratio (%), 2013-
Table 28: Nigerien Property Insurance - Loss Ratio (%), 2017-
Table 29: Nigerien Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-
Table 30: Nigerien Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-
Table 31: Nigerien Motor Insurance - Loss Ratio (%), 2013-
Table 32: Nigerien Motor Insurance - Loss Ratio (%), 2017-
Table 33: Nigerien Liability Insurance - Direct Written Premium (XOF Million and US$ Million), 2013-
Table 34: Nigerien Liability Insurance - Direct Written Premium (XOF Million and US$ Million), 2017-
Table 35: Nigerien Liability Insurance - Loss Ratio (%), 2013-
Table 36: Nigerien Liability Insurance - Loss Ratio (%), 2017-
Table 37: Nigerien Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-
Table 38: Nigerien Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-
Table 39: Nigerien Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-
Table 40: Nigerien Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-
Table 41: Nigerien Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-
Table 42: Nigerien Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-
Table 43: Nigerien Personal Accident and Health Insurance - Loss Ratio (%), 2013-
Table 44: Nigerien Personal Accident and Health Insurance - Loss Ratio (%), 2017-
Table 45: Nigerien Miscellaneous - Direct Written Premium (XOF Million and US$ Million), 2013-
Table 46: Nigerien Miscellaneous - Direct Written Premium (XOF Million and US$ Million), 2017-
Table 47: Nigerien Miscellaneous - Loss Ratio (%), 2013-
Table 48: Nigerien Miscellaneous - Loss Ratio (%), 2017-
Table 49: Nigerien Reinsurance - Premium Accepted (XOF Million) by Reinsurance Type, 2013-
Table 50: Nigerien Reinsurance - Premium Accepted (XOF Million) by Reinsurance Type, 2017-
Table 51: Nigerien Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-
Table 52: Nigerien Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2017-
Table 53: Nigerien Insurance Industry - Market Shares of Leading Insurers (%),
Table 54: Nigerien Life Insurance Segment - Market Shares of Leading Insurers (%),
Table 55: Nigerien General Insurance Segment - Market Shares of Leading Insurers (%),
Table 56: Compagnie d'Assurances et de Reassurances du Niger - Key Facts
Table 57: Societe Nigerienne d'Assurances et de Reassurances - Key Facts
Table 58: Sunu Assurances Vie Niger - Key Facts
Table 59: La Nigerienne d'Assurances et de Reassurances - Key Facts
Table 60: Sunu Assurances IARD Niger - Key Facts
Table 61: Niger- Insurance Regulatory Framework Key Features
Table 62: Niger - Insurance Intermediary Remuneration
Table 63: Niger - Life Insurance Regulatory Framework
Table 64: Niger - Property Insurance Regulatory Framework
Table 65: Niger - Motor Insurance Regulatory Framework
Table 66: Niger - Liability Insurance Regulatory Framework
Table 67: Niger - Insurance Premium Tax Rates
Table 68: Niger - Corporate Tax Rates for the Financial Year
Table 69: Nigerien Life Insurance - Policies and Premium, 2013-
Table 70: Nigerien Life Insurance - Policies and Premium, 2017-
Table 71: Nigerien Life Insurance - Claims and Expenses, 2013-
Table 72: Nigerien Life Insurance - Claims and Expenses, 2017-
Table 73: Nigerien Life Insurance - Assets and Investments, 2013-
Table 74: Nigerien Life Insurance - Assets and Investments, 2017-
Table 75: Nigerien General Insurance - Policies and Premium, 2013-
Table 76: Nigerien General Insurance - Policies and Premium, 2017-
Table 77: Nigerien General Insurance - Claims and Expenses, 2013-
Table 78: Nigerien General Insurance - Claims and Expenses, 2017-
Table 79: Nigerien General Insurance - Assets and Investments, 2013-
Table 80: Nigerien General Insurance - Assets and Investments, 2017-
Table 81: Nigerien General Insurance - Property Insurance, 2013-
Table 82: Nigerien General Insurance - Property Insurance, 2017-
Table 83: Nigerien General Insurance - Property Insurance by Category, 2013-
Table 84: Nigerien General Insurance - Property Insurance by Category, 2017-
Table 85: Nigerien General Insurance - Motor Insurance, 2013-
Table 86: Nigerien General Insurance - Motor Insurance, 2017-
Table 87: Nigerien General Insurance - Motor Insurance by Category, 2013-
Table 88: Nigerien General Insurance - Motor Insurance by Category, 2017-
Table 89: Nigerien General Insurance - Liability Insurance, 2013-
Table 90: Nigerien General Insurance - Liability Insurance, 2017-
Table 91: Nigerien General Insurance - Marine, Aviation and Transit Insurance, 2013-
Table 92: Nigerien General Insurance - Marine, Aviation and Transit Insurance, 2017-
Table 93: Nigerien General Insurance - Marine Aviation and Transit Insurance by Category, 2013-
Table 94: Nigerien General Insurance - Marine Aviation and Transit Insurance by Category, 2017-
Table 95: Nigerien General Insurance - Personal Accident and Health Insurance, 2013-
Table 96: Nigerien General Insurance - Personal Accident and Health Insurance, 2017-
Table 97: Nigerien General Insurance - Miscellaneous, 2013-
Table 98: Nigerien General Insurance - Miscellaneous, 2017-
Table 99: Insurance Industry Definitions
List of Figures
Figure 1: Nigerien GDP Composition,
Figure 2: Nigerien Real GDP (XOF trillion), 2013-
Figure 3: Nigerien Exchange Rate (XOF per US$), 2013-
Figure 4: Nigerien Consumer Price Inflation (%), 2013-
Figure 5: Nigerien Current Account Balance as Percentage of GDP (%), 2013-
Figure 6: Nigerien Unemployment Rate, 2013-
Figure 7: Nigerien Population by Age Group, 2013-
Figure 8: Nigerien Insurance Industry - Direct Written Premium (XOF Billion), 2013-
Figure 9: Nigerien Insurance Industry - Density (XOF), 2013-
Figure 10: Nigerien Insurance Industry - Paid Claims (XOF Billion), 2013-
Figure 11: Nigerien Life Insurance - Direct Written Premium (XOF Billion), 2013-
Figure 12: Nigerien Life Insurance - Paid Claims (XOF Billion), 2013-
Figure 13: Nigerien Life Insurance - Penetration (%), 2013-
Figure 14: Nigerien Life Insurance - Penetration (%), 2017-
Figure 15: Nigerien Life Insurance - Total Investment Income (XOF Million), 2013-
Figure 16: Nigerien Life Insurance - Investment Portfolio (XOF Billion), 2013-
Figure 17: Nigerien Life Insurance - Investment Portfolio Dynamics (XOF Billion), 2017-
Figure 18: Nigerien General Insurance - Direct Written Premium (XOF Billion), 2013-
Figure 19: Nigerien General Insurance - Paid Claims (XOF Billion), 2013-
Figure 20: Nigerien General Insurance - Penetration (%), 2013-
Figure 21: Nigerien General Insurance - Penetration (%), 2017-
Figure 22: Nigerien General Insurance - Loss Ratio (%), 2013-
Figure 23: Nigerien General Insurance - Loss Ratio (%), 2017-
Figure 24: Nigerien General Insurance - Total Investment Income (XOF Billion), 2013-
Figure 25: Nigerien General Insurance - Investment Portfolio (XOF Billion), 2013-
Figure 26: Nigerien General Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-
Figure 27: Nigerien Property Insurance - Direct Written Premium (XOF Billion), 2013-
Figure 28: Nigerien Property Insurance - Penetration (%), 2013-
Figure 29: Nigerien Property Insurance - Penetration (%), 2017-
Figure 30: Nigerien Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-
Figure 31: Nigerien Motor Insurance - Direct Written Premium (XOF Billion), 2013-
Figure 32: Nigerien Motor Insurance - Penetration (%), 2013-
Figure 33: Nigerien Motor Insurance - Penetration (%), 2017-
Figure 34: Nigerien Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-
Figure 35: Nigerien Liability Insurance - Direct Written Premium (XOF Million), 2013-
Figure 36: Nigerien Liability Insurance - Penetration (%), 2013-
Figure 37: Nigerien Liability Insurance - Penetration (%), 2017-
Figure 38: Nigerien Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-
Figure 39: Nigerien Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion), 2013-
Figure 40: Nigerien Marine, Aviation and Transit Insurance - Penetration (%), 2013-
Figure 41: Nigerien Marine, Aviation and Transit Insurance - Penetration (%), 2017-
Figure 42: Nigerien Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-
Figure 43: Nigerien Personal Accident and Health Insurance - Direct Written Premium (XOF Billion), 2013-
Figure 44: Nigerien Personal Accident and Health Insurance - Penetration (%), 2013-
Figure 45: Nigerien Personal Accident and Health Insurance - Penetration (%), 2017-
Figure 46: Nigerien Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-
Figure 47: Nigerien Miscellaneous - Direct Written Premium (XOF Million), 2013-
Figure 48: Nigerien Miscellaneous - Penetration (%), 2013-
Figure 49: Nigerien Miscellaneous - Penetration (%), 2017-
Figure 50: Nigerien Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-
Figure 51: Nigerien Reinsurance - Premium Accepted (XOF Million) by Reinsurance Type, 2013-
Figure 52: Nigerien Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-
Figure 53: Nigerien General Insurance - Percentage of Reinsurance Ceded (%), 2013-
Figure 54: Nigerien Insurance Industry - Market Shares of Leading Insurers (%),
Figure 55: Nigerien Life Insurance Segment - Market Shares of Leading Insurers (%),
Figure 56: Nigerien General Insurance Segment - Market Shares of Leading Insurers (%),
Figure 57: Niger - Insurance Supervision and Control at Various Levels
Figure 58: Niger - Insurance Regulatory Frameworks for Company Registration and Operation

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