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Insurance in Nigeria

Insurance in Nigeria

Summary

Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Synopsis

Essential resource for top-line data and analysis covering the Nigeria insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Key Highlights

The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.

The Nigerian insurance market had total gross written premiums of $1.1bn in 2016, representing a compound annual growth rate (CAGR) of 2.3% between 2012 and 2016.

The non-life insurance segment was the market's most lucrative in 2016, with total gross written premiums of $0.8bn, equivalent to 71.1% of the market's overall value.

The growth of the market has been decelerated since 2015 when the Nigerian economy entered recession.

Scope

  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Nigeria
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Nigeria
  • Leading company profiles reveal details of key insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria insurance market with five year forecasts
Reasons to buy
  • What was the size of the Nigeria insurance market by value in 2016?
  • What will be the size of the Nigeria insurance market in 2021?
  • What factors are affecting the strength of competition in the Nigeria insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitiors in Nigeria's insurance market?


Executive Summary
Market value
Market value forecast
Category segmentation
Geography segmentation
Market rivalry
Market Overview
Market definition
Market analysis
Market Data
Market value
Market Segmentation
Category segmentation
Geography segmentation
Market Outlook
Market value forecast
Five Forces Analysis
Summary
Buyer power
Supplier power
New entrants
Threat of substitutes
Degree of rivalry
Leading Companies
Aiico Insurance PLC
Royal Exchange Plc
Sovereign Trust Insurance Plc
Zenith Bank Plc
Macroeconomic Indicators
Country data
Methodology
Industry associations
Related MarketLine research
Appendix
About MarketLine
List of Tables
Table 1: Nigeria insurance market value: $ billion, 2012-16
Table 2: Nigeria insurance market category segmentation: $ billion, 2016
Table 3: Nigeria insurance market geography segmentation: $ billion, 2016
Table 4: Nigeria insurance market value forecast: $ billion, 2016-21
Table 5: Aiico Insurance PLC: key facts
Table 6: Aiico Insurance PLC: key financials ($)
Table 7: Aiico Insurance PLC: key financials (NGN)
Table 8: Aiico Insurance PLC: key financial ratios
Table 9: Royal Exchange Plc: key facts
Table 10: Royal Exchange Plc: key financials ($)
Table 11: Royal Exchange Plc: key financials (NGN)
Table 12: Royal Exchange Plc: key financial ratios
Table 13: Sovereign Trust Insurance Plc: key facts
Table 14: Sovereign Trust Insurance Plc: key financials ($)
Table 15: Sovereign Trust Insurance Plc: key financials (NGN)
Table 16: Sovereign Trust Insurance Plc: key financial ratios
Table 17: Zenith Bank Plc: key facts
Table 18: Zenith Bank Plc: key financials ($)
Table 19: Zenith Bank Plc: key financials (NGN)
Table 20: Zenith Bank Plc: key financial ratios
Table 21: Nigeria size of population (million), 2012-16
Table 22: Nigeria gdp (constant 2005 prices, $ billion), 2012-16
Table 23: Nigeria gdp (current prices, $ billion), 2012-16
Table 24: Nigeria inflation, 2012-16
Table 25: Nigeria consumer price index (absolute), 2012-16
Table 26: Nigeria exchange rate, 2012-16
List of Figures
Figure 1: Nigeria insurance market value: $ billion, 2012-16
Figure 2: Nigeria insurance market category segmentation: % share, by value, 2016
Figure 3: Nigeria insurance market geography segmentation: % share, by value, 2016
Figure 4: Nigeria insurance market value forecast: $ billion, 2016-21
Figure 5: Forces driving competition in the insurance market in Nigeria, 2016
Figure 6: Drivers of buyer power in the insurance market in Nigeria, 2016
Figure 7: Drivers of supplier power in the insurance market in Nigeria, 2016
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Nigeria, 2016
Figure 9: Factors influencing the threat of substitutes in the insurance market in Nigeria, 2016
Figure 10: Drivers of degree of rivalry in the insurance market in Nigeria, 2016
Figure 11: Aiico Insurance PLC: revenues & profitability
Figure 12: Aiico Insurance PLC: assets & liabilities
Figure 13: Royal Exchange Plc: revenues & profitability
Figure 14: Royal Exchange Plc: assets & liabilities
Figure 15: Sovereign Trust Insurance Plc: revenues & profitability
Figure 16: Sovereign Trust Insurance Plc: assets & liabilities
Figure 17: Zenith Bank Plc: revenues & profitability
Figure 18: Zenith Bank Plc: assets & liabilities

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