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

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

Summary

The Insurance Industry in Togo, Key Trends and Opportunities to 2022, report provides detailed analysis of the market trends, drivers and challenges in the Togolese 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 Togolese economy and demographics, provides detailed information on the competitive landscape 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 Togolese insurance industry, including -

  • The Togolese insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Togolese economy and demographics
  • Details of the competitive landscape in the Togolese insurance industry
  • The various distribution channels in the Togolese insurance industry
  • Details of regulatory policy applicable to the Togolese insurance industry
  • Analysis of natural hazards in the Togolese insurance industry.
    • Key Findings
      • In April 2018, Conférence Interafricaine des Marchés d’Assurances (CIMA) issued a regulation amending provisions on reserve requirements for life insurers.
      • Effective March 2018, the Togolese council of ministers issued a decree making Economic Community of West African States (ECOWAS) insurance brown cards mandatory for all vehicle owners, in addition to motor third party liability (MTPL) policies.
      • Due to the rise in mobile penetration, MNOs are playing an instrumental role in the development of microinsurance.
      • The Togolese general insurance segment is highly price competitive, due to the large low income population.
        • Scope
          • This report provides a comprehensive analysis of the insurance industry in Togo.
          • It provides historical values for the Togolese 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 Togolese 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 Togo.
          • It profiles the top insurance companies in Togo 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 Togolese insurance industry and each segment and category within it.
          • Understand the demand-side dynamics, key market trends and growth opportunities in the Togolese insurance industry.
          • Assess the competitive dynamics in the Togolese insurance industry.
          • Identify the growth opportunities and market dynamics in key segments.
          • Gain insights into key regulations governing the Togolese insurance industry and their impact on companies and the industry's future.


  • Key Facts and Highlights
    • Table Togolese Insurance Industry - Key Facts, 2017
    • Table Togolese Insurance Industry - Segment Shares of the Top Insurers, 2016
  • Executive Summary
  • Economy and Demographics
    • Table Figure 1: Togolese Real GDP (XOF Trillion), 2013-2022
    • Table Figure 2: Togolese Exchange Rate (XOF per US$), 2013-2022
    • Table Figure 3: Togolese Consumer Price Inflation (%), 2013-2022
    • Table Figure 4: Togolese Current Account Balance as Percentage of GDP (%), 2013-2022
    • Table Figure 5: Togolese Unemployment Rate, 2013-2022
    • Table Figure 6: Togolese Population by Age Group, 2013-2022
  • Industry Outlook
    • Industry Indicators
      • Direct written premium
        • Table Togolese Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 7: Togolese Insurance Industry - Direct Written Premium (XOF Billion), 2013-2022
      • Insurance density
        • Table Togolese Insurance Industry - Density (XOF), 2013-2017
        • Table Togolese Insurance Industry - Density (XOF), 2017-2022
        • Table Figure 8: Togolese Insurance Industry - Density (XOF), 2013-2022
      • Paid claims
        • Table Togolese Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2017-2022
        • Table Figure 9: Togolese Insurance Industry - Paid Claims (XOF Billion), 2013-2022
  • Life Insurance Outlook
    • Segment Indicators
      • Direct written premium
        • Table Togolese Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 10: Togolese Life Insurance - Direct Written Premium (XOF Billion), 2013-2022
        • Table Togolese Life Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Life Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
        • Table Figure 11: Togolese Life Insurance - Paid Claims (XOF Billion), 2013-2022
      • Penetration
        • Table Figure 12: Togolese Life Insurance - Penetration (%), 2013-2017
        • Table Figure 13: Togolese Life Insurance - Penetration (%), 2017-2022
      • Assets and Investments
        • Table Togolese Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
        • Table Figure 14: Togolese Life Insurance - Total Investment Income (XOF Billion), 2013-2022
        • Table Togolese Life Insurance - Investment Portfolio (XOF Billion), 2013-2017
        • Table Togolese Life Insurance - Investment Portfolio (XOF Billion), 2017-2022
        • Table Figure 15: Togolese Life Insurance - Investment Portfolio (XOF Billion), 2013-2022
        • Table Figure 16: Togolese Life Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
  • General Insurance Outlook
    • Segment Indicators
      • Gross written premium
        • Table Togolese General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 17: Togolese General Insurance - Gross Written Premium (XOF Billion), 2013-2022
      • Direct written premium
        • Table Togolese General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 18: Togolese General Insurance - Direct Written Premium (XOF Billion), 2013-2022
      • Paid claims
        • Table Togolese General Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
        • Table Togolese General Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
        • Table Figure 19: Togolese General Insurance - Paid Claims (XOF Billion), 2013-2022
      • Penetration
        • Table Figure 20: Togolese General Insurance - Penetration (%), 2013-2017
        • Table Figure 21: Togolese General Insurance - Penetration (%), 2017-2022
      • Loss ratio
        • Table Figure 22: Togolese General Insurance - Loss Ratio (%), 2013-2017
        • Table Figure 23: Togolese General Insurance - Loss Ratio (%), 2017-2022
      • Assets and Investments
        • Table Togolese General Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
        • Table Togolese General Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
        • Table Figure 24: Togolese General Insurance - Total Investment Income (XOF Billion), 2013-2022
        • Table Togolese General Insurance - Investment Portfolio (XOF Billion), 2013-2017
        • Table Togolese General Insurance - Investment Portfolio (XOF Billion), 2017-2022
        • Table Figure 25: Togolese General Insurance - Investment Portfolio (XOF Billion), 2013-2022
        • Table Figure 26: Togolese General Insurance - Investment Portfolio Dynamics (XOF Billion), 2013- 2022
    • Property Insurance
      • Direct written premium
        • Table Togolese Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 27: Togolese Property Insurance - Direct Written Premium (XOF Billion), 2013-2022
      • Penetration
        • Table Figure 28: Togolese Property Insurance - Penetration (%), 2013-2017
        • Table Figure 29: Togolese Property Insurance - Penetration (%), 2017-2022
      • Profitability
        • Table Togolese Property Insurance - Loss Ratio (%), 2013-2017
        • Table Togolese Property Insurance - Loss Ratio (%), 2017-2022
        • Table Figure 30: Togolese Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
    • Motor Insurance
      • Direct written premium
        • Table Togolese Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 31: Togolese Motor Insurance - Direct Written Premium (XOF Billion), 2013-2022
      • Penetration
        • Table Figure 32: Togolese Motor Insurance - Penetration (%), 2013-2017
        • Table Figure 33: Togolese Motor Insurance - Penetration (%), 2017-2022
      • Profitability
        • Table Togolese Motor Insurance - Loss Ratio (%), 2013-2017
        • Table Togolese Motor Insurance - Loss Ratio (%), 2017-2022
        • Table Figure 34: Togolese Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
    • Liability Insurance
      • Direct written premium
        • Table Togolese Liability Insurance - Direct Written Premium (XOF Million and US$ Million), 2013-2017
        • Table Togolese Liability Insurance - Direct Written Premium (XOF Million and US$ Million), 2017-2022
        • Table Figure 35: Togolese Liability Insurance -Direct Written Premium (XOF Billion), 2013-2022
      • Penetration
        • Table Figure 36: Togolese Liability Insurance - Penetration (%), 2013-2017
        • Table Figure 37: Togolese Liability Insurance - Penetration (%), 2017-2022
      • Profitability
        • Table Togolese Liability Insurance - Loss Ratio (%), 2013-2017
        • Table Togolese Liability Insurance - Loss Ratio (%), 2017-2022
        • Table Figure 38: Togolese Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
    • Marine, Aviation and Transit Insurance
      • Direct written premium
        • Table Togolese Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 39: Togolese Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion), 2013-2022
      • Penetration
        • Table Figure 40: Togolese Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
        • Table Figure 41: Togolese Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
      • Profitability
        • Table Togolese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017
        • Table Togolese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022
        • Table Figure 42: Togolese Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
    • Personal Accident and Health Insurance
      • Direct written premium
        • Table Togolese Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
        • Table Togolese Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
        • Table Figure 43: Togolese Personal Accident and Health Insurance - Direct Written Premium (XOF Billion), 2013-2022
      • Penetration
        • Table Figure 44: Togolese Personal Accident and Health Insurance - Penetration (%), 2013-2017
        • Table Figure 45: Togolese Personal Accident and Health Insurance - Penetration (%), 2017-2022
      • Profitability
        • Table Togolese Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
        • Table Togolese Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
        • Table Figure 46: Togolese Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
    • Miscellaneous
      • Direct written premium
        • Table Togolese Miscellaneous - Direct Written Premium (XOF Million and US$ Million), 2013-2017
        • Table Togolese Miscellaneous - Direct Written Premium (XOF Million and US$ Million), 2017-2022
        • Table Figure 47: Togolese Miscellaneous - Direct Written Premium (XOF Million), 2013-2022
      • Penetration
        • Table Figure 48: Togolese Miscellaneous - Penetration (%), 2013-2017
        • Table Figure 49: Togolese Miscellaneous - Penetration (%), 2017-2022
      • Profitability
        • Table Togolese Miscellaneous - Loss Ratio (%), 2013-2017
        • Table Togolese Miscellaneous - Loss Ratio (%), 2017-2022
        • Table Figure 50: Togolese Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
  • Reinsurance Outlook
    • Premium Ceded
      • Table Togolese Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013- 2017
      • Table Togolese Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2017- 2022
      • Table Figure 51: Togolese Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2022
      • Table Figure 52: Togolese Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
      • Table Figure 53: Togolese General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
  • Competitive Landscape
    • Table Togolese Insurance Industry - Market Shares of Leading Insurers (%), 2016
    • Table Figure 54: Togolese Insurance Industry - Market Shares of Leading Insurers (%), 2016
    • Table Togolese Life Insurance Segment - Market Shares of Leading Insurers (%), 2016
    • Table Figure 55: Togolese Life Insurance Segment - Market Shares of Leading Insurers (%), 2016
    • Table Togolese General Insurance Segment - Market Shares of Leading Insurers (%), 2016
    • Table Figure 56: Togolese General Insurance Segment - Market Shares of Leading Insurers (%), 2016
    • Company Profiles
      • Groupement Togolias d'Assurances Vie - company overview
        • Table Groupement Togolais d'Assurances Vie - Key Facts
      • Nouvelle Société Interafricaine d'Assurance Group - company overview
        • Table Nouvelle Société Interafricaine d'Assurance Group - Key Facts
      • Saham insurance- company overview
        • Table Saham Assurance - Key Facts
      • Sunu Assurances IARD - company overview
        • Table Sunu Assurances IARD Togo - Key Facts
      • Groupement Togolias d'Assurances (GTA-C2A) - company overview
        • Table Groupement Togolias d'Assurances (GTA-C2A) - Key Facts
  • Governance, Risk and Compliance
    • Table Togo - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Table Togo - Insurance Intermediary Remuneration
      • Life insurance
        • Table Togo - Life Insurance Regulatory Framework
      • Property insurance
        • Table Togo - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Togo- Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Togo - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Professional indemnity insurance for insurance intermediaries
      • Worker's Compensation
    • Supervision and Control
      • Table Figure 57: Togo - Insurance Supervision and Control at Various Levels
      • International Association of Insurance Supervisors
      • Commission Regional des Assurances
      • Direction Nationale des Assurances
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Table Figure 58: Togo - Insurance Regulatory Frameworks for Company Registration and Operation
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Togo - Insurance Premium Tax Rates
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Togo - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Life Insurance
      • Policies and premium
        • Table Togolese Life Insurance - Policies and Premium, 2013-2017
        • Table Togolese Life Insurance - Policies and Premium, 2017-2022
      • Claims and expenses
        • Table Togolese Life Insurance - Claims and Expenses, 2013-2017
        • Table Togolese Life Insurance - Claims and Expenses, 2017-2022
      • Assets and investments
        • Table Togolese Life Insurance - Assets and Investments, 2013-2017
        • Table Togolese Life Insurance - Assets and Investments, 2017-2022
    • General Insurance
      • Policies and premium
        • Table Togolese General Insurance - Policies and Premium, 2013-2017
        • Table Togolese General Insurance - Policies and Premium, 2017-2022
      • Claims and expenses
        • Table Togolese General Insurance - Claims and Expenses, 2013-2017
        • Table Togolese General Insurance - Claims and Expenses, 2017-2022
      • Assets and investments
        • Table Togolese General Insurance - Assets and Investments, 2013-2017
        • Table Togolese General Insurance - Assets and Investments, 2017-2022
      • Property insurance
        • Table Togolese General Insurance - Property Insurance, 2013-2017
        • Table Togolese General Insurance - Property Insurance, 2017-2022
      • Property insurance by category
        • Table Togolese General Insurance - Property Insurance by Category, 2013-2017
        • Table Togolese General Insurance - Property Insurance by Category, 2017-2022
      • Motor insurance
        • Table Togolese General Insurance - Motor Insurance, 2013-2017
        • Table Togolese General Insurance - Motor Insurance, 2017-2022
      • Motor insurance by category
        • Table Togolese General Insurance - Motor Insurance by Category, 2013-2017
        • Table Togolese General Insurance - Motor Insurance by Category, 2017-2022
      • Liability insurance
        • Table Togolese General Insurance - Liability Insurance, 2013-2017
        • Table Togolese General Insurance - Liability Insurance, 2017-2022
      • Marine, aviation and transit insurance
        • Table Togolese General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
        • Table Togolese General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
      • Marine Aviation and Transit Insurance by category
        • Table Togolese General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017
        • Table Togolese General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022
      • Personal Accident and Health Insurance
        • Table Togolese General Insurance - Personal Accident and Health Insurance, 2013-2017
        • Table Togolese General Insurance - Personal Accident and Health Insurance, 2017-2022
      • Miscellaneous
        • Table Togolese General Insurance - Miscellaneous, 2013-2017
        • Table Togolese General Insurance - Miscellaneous, 2017-2022
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
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