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The Insurance Industry in Kenya, Key Trends and Opportunities to 2020

The Insurance Industry in Kenya, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Insurance Industry in Kenya, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Kenyan 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 (2011–2015) and forecast periods (2015–2020).

The report also gives a comprehensive overview of the Kenyan economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes analysis of the impact of natural hazards on the insurance industry.

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 Kenya, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Kenyan insurance industry, including:

  • An overview of the Kenyan insurance industry
  • The Kenyan insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Kenyan economy and demographics
  • The detailed competitive landscape in the Kenyan insurance industry
  • Details of regulatory policy applicable to the Kenyan insurance industry
  • Analysis of natural hazards in the Kenyan insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Kenya:
  • It provides historical values for the Kenyan insurance industry for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key segments in the Kenyan insurance industry, with market forecasts to 2020.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Kenya, and highlights recent developments.
  • It covers the economy and demographic structure of Kenya.
  • It analyzes the impact of natural hazards in the Kenyan insurance industry.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Kenyan insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Kenyan insurance industry.
  • Assess the competitive dynamics in the Kenyan insurance industry.
  • Identify growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Kenyan insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • In August 2015, the Kenyan government launched pastoral livestock insurance in northern Kenya, in partnership with the World Bank and the International Livestock Research Institute (ILRI).
  • Life insurance penetration in Kenya was 1.0% in 2015.
  • The non-life segment accounted for 70.0% of the industry’s gross written premium in 2015.
  • In 2015, there were 16 life insurers, 25 general insurers, 10 composite insurers and three reinsurers operating in the country.


  • Key Facts and Highlights
    • Table Kenyan Insurance Industry - Key Facts, 2015
    • Table Kenyan Insurance Industry - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demography
    • Table Kenyan Government Credit Ratings
  • Industry Outlook
    • Regional Comparison
    • Industry Indicators
      • Gross written premium
        • Table Kenyan Insurance Industry - Gross Written Premium by Segment (KES Billion), 2011-2015
        • Table Kenyan Insurance Industry - Gross Written Premium by Segment (KES Billion), 2015-2020
      • Direct written premium
        • Table Kenyan Insurance Industry - Direct Written Premium by Segment (KES Billion), 2011-2015
        • Table Kenyan Insurance Industry - Direct Written Premium by Segment (KES Billion), 2015-2020
        • Table Kenyan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (KES), 2011-2015
        • Table Kenyan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (KES), 2015-2020
      • Policies sold
        • Table Kenyan Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Kenyan Life Insurance- Number of Policies Sold Thousand), 2015-2020
      • Claims
        • Table Kenyan Life Insurance - Paid Claims (KES Billion), 2011-2015
        • Table Kenyan Life Insurance - Paid Claims (KES Billion), 2015-2020
      • Assets and investments
        • Table Kenyan Insurance Industry - Total Assets by Segment (KES Billion), 2011-2015
        • Table Kenyan Insurance Industry - Total Assets by Segment (KES Billion), 2015-2020
        • Table Kenyan Insurance Industry - Total Investment Income by Segment (KES Billion), 2011-2015
        • Table Kenyan Insurance Industry - Total Investment Income by Segment (KES Billion), 2015-2020
        • Table Kenyan Insurance Industry - Life Insurance Investment Portfolio (KES Billion), 2011-2015
        • Table Kenyan Insurance Industry - Life Insurance Investment Portfolio (KES Billion), 2015-2020
        • Table Kenyan Insurance Industry - Non-Life Insurance Investment Portfolio (KES Billion), 2011-2015
        • Table Kenyan Insurance Industry - Non-Life Insurance Investment Portfolio (KES Billion), 2015-2020
        • Table Kenyan Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (KES Billion), 2011-2015
        • Table Kenyan Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (KES Billion), 2015-2020
  • Life Insurance Outlook
    • Individual Life Insurance
      • Policies sold
        • Table Kenyan Individual Life Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Kenyan Individual Life Insurance - Number of Active Policies (Thousand), 2015-2020
      • Penetration
    • Group Life Insurance
      • Policies sold
        • Table Kenyan Group Life Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Kenya Group Life Insurance - Number of Active Policies (Thousand), 2015-2020
      • Penetration
  • Non-Life Insurance Outlook
    • Property Insurance
      • Gross written premium
        • Table Kenyan Property Insurance - Gross Written Premium (KES Billion and US$ Million), 2011-2015
        • Table Kenyan Property Insurance - Gross Written Premium (KES Billion and US$ Million), 2015-2020
      • Penetration
      • Profitability
        • Table Kenyan Property Insurance - Loss Ratio (%), 2011-2015
        • Table Kenyan Property Insurance - Loss Ratio(%), 2015-2020
    • Motor Insurance
      • Gross written premium
        • Table Kenyan Motor Insurance - Gross Written Premium (KES Billion and US$ Million), 2011-2015
        • Table Kenyan Motor Insurance - Gross Written Premium (KES Billion and US$ Million), 2015-2020
      • Penetration
      • Profitability
        • Table Kenyan Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Kenyan Motor Insurance - Loss Ratio(%), 2015-2020
    • Liability Insurance
      • Gross written premium
        • Table Kenyan Liability Insurance - Gross Written Premium (KES Billion and US$ Million), 2011-2015
        • Table Kenyan Liability Insurance - Gross Written Premium (KES Billion and US$ Million), 2015-2020
      • Penetration
      • Profitability
        • Table Kenyan Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Kenyan Liability Insurance - Loss Ratio(%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Gross written premium
        • Table Kenyan Marine, Aviation and Transit Insurance - Gross Written Premium (KES Billion and US$ Million), 2011-2015
        • Table Kenyan Marine, Aviation and Transit Insurance - Gross Written Premium (KES Billion and US$ Million), 2015-2020
      • Penetration
      • Profitability
        • Table Kenyan Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Kenyan Marine, Aviation and Transit Insurance - Loss Ratio(%), 2015-2020
  • Personal Accident and Health Insurance Outlook
    • Personal Accident Insurance
      • Gross written premium
        • Table Kenyan Personal Accident Insurance - Gross Written Premium (KES Billion and US$ Million), 2011-2015
        • Table Kenyan Personal Accident Insurance - Gross Written Premium (KES Billion and US$ Million), 2015-2020
      • Penetration
      • Profitability
        • Table Kenyan Personal Accident Insurance - Loss Ratio (%), 2011-2015
        • Table Kenyan Personal Accident Insurance - Loss Ratio(%), 2015-2020
    • Health Insurance
      • Gross written premium
        • Table Kenyan Health Insurance - Gross Written Premium (KES Billion and US$ Million), 2011-2015
        • Table Kenyan Health Insurance - Gross Written Premium (KES Billion and US$ Million), 2015-2020
      • Penetration
      • Profitability
        • Table Kenyan Health Insurance - Loss Ratio (%), 2011-2015
        • Table Kenyan Health Insurance - Loss Ratio(%), 2015-2020
  • Reinsurance Outlook
    • Premium Ceded
      • Table Kenyan Reinsurance - Premium Ceded by Insurance Segment (KES Billion), 2011-2015
      • Table Kenyan Reinsurance - Premium Ceded by Insurance Segment (KES Billion), 2015-2020
  • Distribution Channel Outlook
  • Natural Hazards
    • Table Kenyan Average Annual Loss by Hazard (US$ Million), 1990-2014
    • Flooding
    • Droughts
    • Landslide
    • Exposure
  • Competitive Landscape
    • Table Kenyan Insurance Industry - Shares of Leading Insurers (%), 2015
    • Table Kenyan Life Insurance - Segment Shares of Leading Insurers (%), 2015
    • Table Kenyan Non-Life Insurance - Segment Shares of Leading Insurers (%), 2015
    • Table Kenyan Personal Accident & Health Insurance - Segment Shares of Leading Insurers (%), 2015
    • Company Profiles
      • The Jubilee Insurance Company of Kenya Ltd - Company overview
        • Table The Jubilee Insurance Company of Kenya Ltd - Key Facts
      • British American Insurance Company (Kenya) Ltd - Company overview
        • Table British American Insurance Company (Kenya) Ltd - Key Facts
      • UAP Insurance Company Ltd - Company overview
        • Table UAP Insurance Company Ltd - Key Facts
      • APA Insurance Company - Company overview
        • Table APA Insurance Company - Key Facts
      • ICEA Lion Life Assurance Company - Company overview
        • Table ICEA Lion Life Assurance Company - Key Facts
  • Governance, Risk and Compliance
    • Table Kenya - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Kenya - Life Insurance Regulatory Framework
        • Table Kenya - Bond Investment Commission Rates
        • Table Kenya - Industrial Life Business
        • Table Kenya - Ordinary Life Business (Individual Life Policies)
        • Table Kenya - Superannuation Business (Including Group Life Policies)
      • Property insurance
        • Table Kenya - Property Insurance Regulatory Framework
        • Table Kenya - Property Insurance Commission Rates
      • Motor insurance
        • Table Kenya - Motor Insurance Regulatory Framework
        • Table Kenya - - No-Claims Discount
      • Liability insurance
        • Table Kenya - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workmen's compensation insurance
      • Professional indemnity insurance for brokers and agents
    • Supervision and Control
      • International Association of Insurance Supervisors
      • African Insurance Organization
      • Insurance Regulatory Authority (IRA)
      • Association of Kenya Insurers (AKI)
    • Non-Admitted Insurance Regulation
      • 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
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Kenya - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Life Insurance
      • Policies and premium
        • Table Kenyan Life Insurance - Policies and Premium, 2011-2015
        • Table Kenyan Life Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Kenyan Life Insurance - Claims and Expenses, 2011-2015
        • Table Kenyan Life Insurance - Claims and Expenses, 2015-2020
      • Assets and investments
        • Table Kenyan Life Insurance - Assets and Investments, 2011-2015
        • Table Kenyan Life Insurance - Assets and Investments, 2015-2020
      • Individual life insurance
        • Table Kenyan Life Insurance - Individual Life Insurance, 2011-2015
        • Table Kenyan Life Insurance - Individual Life Insurance, 2015-2020
      • Group life insurance
        • Table Kenyan Life Insurance - Group Life Insurance, 2011-2015
        • Table Kenyan Life Insurance - Group Life Insurance, 2015-2020
      • Group life insurance by product
        • Table Kenyan Life Insurance - Group Life Insurance by Product, 2011-2015
        • Table Kenyan Life Insurance - Group Life Insurance by Product, 2015-2020
      • Individual life - Single vs non-single premium
        • Table Kenyan Life Insurance - Individual Life Insurance by Premium, 2011-2015
        • Table Kenyan Life Insurance - Individual Life Insurance by Premium, 2015-2020
      • Group life - Single vs non-single premium
        • Table Kenyan Life Insurance - Group Life Insurance by Premium, 2011-2015
        • Table Kenyan Life Insurance - Group Life Insurance by Premium, 2015-2020
      • Linked vs non-linked policies
        • Table Kenyan Life Insurance - Linked vs Non-Linked Policies, 2011-2015
        • Table Kenyan Life Insurance - Linked vs Non-Linked Policies, 2015-2020
    • Non-Life Insurance
      • Policies and premium
        • Table Kenyan Non-Life Insurance - Policies and Premium, 2011-2015
        • Table Kenyan Non-Life Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Kenyan Non-Life Insurance - Claims and Expenses, 2011-2015
        • Table Kenyan Non-Life Insurance - Claims and Expenses, 2015-2020
      • Assets and investments
        • Table Kenyan Non-Life Insurance - Assets and Investments, 2011-2015
        • Table Kenyan Non-Life Insurance - Assets and Investments, 2015-2020
      • Property insurance
        • Table Kenyan Non-Life Insurance - Property Insurance, 2011-2015
        • Table Kenyan Non-Life Insurance - Property Insurance, 2015-2020
      • Property insurance by product
        • Table Kenyan Non-Life Insurance - Property Insurance by Product, 2011-2015
        • Table Kenyan Non-Life Insurance - Property Insurance by Product, 2015-2020
      • Motor insurance
        • Table Kenyan Non-Life Insurance - Motor Insurance, 2011-2015
        • Table Kenyan Non-Life Insurance - Motor Insurance, 2015-2020
      • Motor insurance by product
        • Table Kenyan Non-Life Insurance - Liability Insurance, 2011-2015
        • Table Kenyan Non-Life Insurance - Liability Insurance, 2015-2020
      • Marine, aviation and transit insurance
        • Table Kenyan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
        • Table Kenyan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
    • Personal Accident and Health Insurance
      • Policies and premium
        • Table Kenyan Personal Accident and Health Insurance - Policies and Premium, 2011-2015
        • Table Kenyan Personal Accident and Health Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Kenyan Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
        • Table Kenyan Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
      • Assets and investments
        • Table Kenyan Personal Accident and Health Insurance - Assets and Investments, 2011-2015
        • Table Kenyan Personal Accident and Health Insurance - Assets and Investments, 2015-2020
      • Personal accident insurance
        • Table Kenyan Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
        • Table Kenyan Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
      • Health insurance
        • Table Kenyan Personal Accident and Health Insurance - Health Insurance, 2011-2015
        • Table Kenyan Personal Accident and Health Insurance - Health Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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