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The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2021

The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Burkinabé insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012–2016) and forecast period (2016–2021).

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

The report brings together Timetric’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.

Summary

Timetric’s 'The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Burkinabé insurance industry, including:

  • The Burkinabé insurance industry's growth prospects by segment and category
  • A comprehensive overview of Burkinabé economy and demographics
  • The detailed competitive landscape in the Burkinabé insurance industry
  • The various distribution channels in the Burkinabé insurance industry
  • Detailed regulatory policies of the Burkinabé insurance industry
  • Analysis of natural hazards in Burkinabé insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Burkina Faso:
  • It provides historical values for the Burkinabé insurance industry for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.
  • It offers a detailed analysis of the key segments in the Burkinabé insurance industry, along with market forecasts until 2021.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It analyzes the various distribution channels in Burkina Faso.
  • It profiles the top insurance companies in Burkina Faso 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 Burkinabé insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Burkinabé insurance industry.
  • Assess the competitive dynamics in the Burkinabé insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Burkinabé insurance industry and their impact on companies and the industry's future.
Key Highlights
  • In April 2017, Sunu Assurances and United Bank for Africa signed a bancassurance agreement and launched two new bancassurance products: Ca Gagne, a 15 year savings buy back product; and Beogo, which is pension and death cover.
  • In June 2017, the government of Burkina Faso secured a loan worth XOF36.3 billion (US$61.8 million) from the West African Development Bank and Ecowas Bank
  • In May 2016, the Old Mutual Emerging Markets (OMEM) signed a strategic agreement with Ecobank Transnational Incorporated (ETI) to distribute short-term insurance solutions, savings and life insurance through Ecobank branches in Burkina Faso.
  • During 2010–2015, 5,046 people were killed and 73,536 people were injured in road accidents in Burkina Faso.


  • Key Facts and Highlights
    • Table Burkinabé Insurance Industry - Key Facts, 2016
    • Table Burkinabé Life Insurance Segment - Segment Shares of the Top Insurers, 2015
    • Table Burkinabé Non-Life Insurance Segment - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Burkinabé Government Credit Ratings
  • Industry Outlook
    • Regional Comparison
    • Industry Indicators
      • Gross written premium
        • Table Burkinabé Insurance Industry - Gross Written Premium by Segment (XOF Billion), 2012-2016
        • Table Burkinabé Insurance Industry - Gross Written Premium by Segment (XOF Billion), 2016-2021
        • Table Burkinabé Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (XOF), 2012-2016
        • Table Burkinabé Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (XOF), 2016-2021
      • Claims
        • Table Burkinabé Insurance Industry - Paid Claims by Segment(XOF Billion), 2012-2016
        • Table Burkinabé Insurance Industry - Paid Claims by Segment(XOF Billion), 2016-2021
      • Investments
        • Table Burkinabé Insurance Industry - Total Investment Income by Segment (XOF Billion), 2012-2016
        • Table Burkinabé Insurance Industry - Total Investment Income by Segment (XOF Billion), 2016-2021
        • Table Burkinabé Insurance Industry - Life Insurance Investment Portfolio (XOF Billion), 2012-2016
        • Table Burkinabé Insurance Industry - Life Insurance Investment Portfolio (XOF Billion), 2016-2021
        • Table Burkinabé Insurance Industry - Non-Life Insurance Investment Portfolio (XOF Billion), 2012-2016
        • Table Burkinabé Insurance Industry - Non-Life Insurance Investment Portfolio (XOF Billion), 2016-2021
        • Table Burkinabé Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (XOF Billion), 2012-2016
        • Table Burkinabé Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (XOF Billion), 2016-2021
  • Life Insurance Outlook
    • Individual Life Insurance
      • Gross written premium
        • Table Burkinabé Individual Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2012-2016
        • Table Burkinabé Individual Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2016-2021
      • Penetration
    • Group Life Insurance
      • Gross written premium
        • Table Burkinabé Group Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2012-2016
        • Table Burkinabé Group Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2016-2021
      • Penetration
  • Non-Life Insurance Outlook
    • Property Insurance
      • Gross written premium
        • Table Burkinabé Property Insurance - Gross Written Premium (XOF Billion and US$ Million), 2012-2016
        • Table Burkinabé Property Insurance - Gross Written Premium (XOF Billion and US$ Million), 2016-2021
      • Penetration
      • Profitability
        • Table Burkinabé Property Insurance - Loss Ratio (%), 2012-2016
        • Table Burkinabé Property Insurance - Loss Ratio(%), 2016-2021
    • Motor Insurance
      • Gross written premium
        • Table Burkinabé Motor Insurance - Gross Written Premium (XOF Billion and US$ Million), 2012-2016
        • Table Burkinabé Motor Insurance - Gross Written Premium (XOF Billion and US$ Million), 2016-2021
      • Penetration
      • Profitability
        • Table Burkinabé Motor Insurance - Loss Ratio (%), 2012-2016
        • Table Burkinabé Motor Insurance - Loss Ratio(%), 2016-2021
    • Liability Insurance
      • Gross written premium
        • Table Burkinabé Liability Insurance - Gross Written Premium (XOF Million and US$ Million), 2012-2016
        • Table Burkinabé Liability Insurance - Gross Written Premium (XOF Million and US$ Million), 2016-2021
      • Penetration
      • Profitability
        • Table Burkinabé Liability Insurance - Loss Ratio (%), 2012-2016
        • Table Burkinabé Liability Insurance - Loss Ratio(%), 2016-2021
    • Marine, Aviation and Transit Insurance
      • Gross written premium
        • Table Burkinabé Marine, Aviation and Transit Insurance - Gross Written Premium (XOF Billion and US$ Million), 2012-2016
        • Table Burkinabé Marine, Aviation and Transit Insurance - Gross Written Premium (XOF Billion and US$ Million), 2016-2021
      • Penetration
      • Profitability
        • Table Burkinabé Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2016
        • Table Burkinabé Marine, Aviation and Transit Insurance - Loss Ratio(%), 2016-2021
  • Personal Accident and Health Insurance Outlook
    • Personal Accident and Health Insurance
      • Gross written premium
        • Table Burkinabé Personal Accident and Health Insurance - Gross Written Premium (XOF Billion and US$ Million), 2012-2016
        • Table Burkinabé Personal Accident and Health Insurance - Gross Written Premium (XOF Billion and US$ Million), 2016-2021
      • Penetration
      • Claims
        • Table Burkinabé Personal Accident and Health Insurance - Paid Claims (XOF Billion and US$ Million), 2012-2016
        • Table Burkinabé Personal Accident and Health Insurance - Paid Claims (XOF Billion and US$ Million), 2016-2021
      • Profitability
        • Table Burkinabé Personal Accident and Health Insurance - Loss Ratio (%), 2012-2016
        • Table Burkinabé Personal Accident and Health Insurance - Loss Ratio(%), 2016-2021
  • Reinsurance Outlook
    • Reinsurance Accepted
      • Table Burkinabé Reinsurance - Total Premium Accepted (XOF Million), 2012-2016
      • Table Burkinabé Reinsurance - Total Premium Accepted (XOF Million), 2016-2021
    • Premium Ceded
      • Table Burkinabé Reinsurance - Premium Ceded by Insurance Segment (XOF Million), 2012-2016
      • Table Burkinabé Reinsurance - Premium Ceded by Insurance Segment (XOF Million), 2016-2021
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Man-made Hazards
    • Exposure
  • Competitive Landscape
    • Table Burkinabé Life Insurance Segment - Market Shares of Leading Insurers (%), 2015
    • Table Burkinabé Non-Life Insurance Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Union des Assurances du Burkina - company overview
        • Table Union des Assurances du Burkina - Key Facts
      • Societe Nationale d'Assurances et de Reassurances Vie - company overview
        • Table Societe Nationale d'Assurances et de Reassurances Vie - Key Facts
      • Allianz Burkina Assurances Vie - company overview
        • Table Allianz Burkina Assurances Vie - Key Facts
      • Generale des Assurances - company overview
        • Table Generale des Assurances - Key Facts
      • Sunu Assurances- Company Overview
        • Table Sunu Assurances - Key Facts
  • Governance, Risk and Compliance
    • Table Burkina Faso - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Table Burkina Faso - Intermediary Remuneration Rates
      • Life insurance
        • Table Burkina Faso - Life Insurance Regulatory Framework
      • Property insurance
        • Table Burkina Faso - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Burkina Faso - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Burkina Faso - 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
      • International Association of Insurance Supervisors
      • Commission Regional des Assurances
      • Directions Nationales des Assurances
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • 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 Burkina Faso - Insurance Premium Tax Rates
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Burkina Faso - 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 Burkinabé Life Insurance - Policies and Premium, 2012-2016
        • Table Burkinabé Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Burkinabé Life Insurance - Claims and Expenses, 2012-2016
        • Table Burkinabé Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Burkinabé Life Insurance - Assets and Investments, 2012-2016
        • Table Burkinabé Life Insurance - Assets and Investments, 2016-2021
      • Individual life insurance
        • Table Burkinabé Life Insurance - Individual Life Insurance, 2012-2016
        • Table Burkinabé Life Insurance - Individual Life Insurance, 2016-2021
      • Individual life insurance by category
        • Table Burkinabé Life Insurance - Individual Life Insurance by Category, 2012-2016
        • Table Burkinabé Life Insurance - Individual Life Insurance by Category, 2016-2021
      • Group life insurance
        • Table Burkinabé Life Insurance - Group Life Insurance, 2012-2016
        • Table Burkinabé Life Insurance - Group Life Insurance, 2016-2021
      • Group life insurance by category
        • Table Burkinabé Life Insurance - Group Life Insurance by Category, 2012-2016
        • Table Burkinabé Life Insurance - Group Life Insurance by Category, 2016-2021
    • Non-Life Insurance
      • Policies and premium
        • Table Burkinabé Non-Life Insurance - Policies and Premium, 2012-2016
        • Table Burkinabé Non-Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Burkinabé Non-Life Insurance - Claims and Expenses, 2012-2016
        • Table Burkinabé Non-Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Burkinabé Non-Life Insurance - Assets and Investments, 2012-2016
        • Table Burkinabé Non-Life Insurance - Assets and Investments, 2016-2021
      • Property insurance
        • Table Burkinabé Non-Life Insurance - Property Insurance, 2012-2016
        • Table Burkinabé Non-Life Insurance - Property Insurance, 2016-2021
      • Property insurance by category
        • Table Burkinabé Non-Life Insurance - Property Insurance by Category, 2012-2016
        • Table Burkinabé Non-Life Insurance - Property Insurance by Category, 2016-2021
      • Motor insurance
        • Table Burkinabé Non-Life Insurance - Motor Insurance, 2012-2016
        • Table Burkinabé Non-Life Insurance - Motor Insurance, 2016-2021
      • Motor insurance by category
        • Table Burkinabé Non-Life Insurance - Motor Insurance by Category, 2012-2016
        • Table Burkinabé Non-Life Insurance - Motor Insurance by Category, 2016-2021
      • Liability insurance
        • Table Burkinabé Non-Life Insurance - Liability Insurance, 2012-2016
        • Table Burkinabé Non-Life Insurance - Liability Insurance, 2016-2021
      • Marine, aviation and transit insurance
        • Table Burkinabé Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
        • Table Burkinabé Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
    • Personal Accident and Health Insurance
      • Policies and premium
        • Table Burkinabé Personal Accident and Health Insurance - Policies and Premium, 2012-2016
        • Table Burkinabé Personal Accident and Health Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Burkinabé Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
        • Table Burkinabé Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Burkinabé Personal Accident and Health Insurance - Assets and Investments, 2012-2016
        • Table Burkinabé Personal Accident and Health Insurance - Assets and Investments, 2016-2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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