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The Insurance Industry in Zambia, Key Trends and Opportunities to 2021

  • Key Facts and Highlights
    • Table Zambian Insurance Industry - Key Facts, 2016
    • Table Zambian Insurance Industry - Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Zambian Government Credit Ratings
  • Industry Outlook
    • Industry Indicators
      • Gross written premium
        • Table Zambian Insurance Industry - Gross Written Premium by Segment (ZMW Million), 2012-2016
        • Table Zambian Insurance Industry - Gross Written Premium by Segment (ZMW Million), 2016-2021
      • Claims
        • Table Zambian Insurance Industry - Paid Claims by Segment (ZMW Million), 2012-2016
        • Table Zambian Insurance Industry - Paid Claims by Segment (ZMW Million), 2016-2021
      • Assets and investments
        • Table Zambian Insurance Industry - Total Assets by Segment (ZMW Billion), 2012-2016
        • Table Zambian Insurance Industry - Total Assets by Segment (ZMW Billion), 2016-2021
        • Table Zambian Insurance Industry - Total Investment Income by Segment (ZMW Million), 2012-2016
        • Table Zambian Insurance Industry - Total Investment Income by Segment (ZMW Million), 2016-2021
        • Table Zambian Insurance Industry - Life Insurance Investment Portfolio (ZMW Million) 2012-2016
        • Table Zambian Insurance Industry - Life Insurance Investment Portfolio (ZMW Million), 2016-2021
        • Table Zambian Insurance Industry - Non-Life Insurance Investment Portfolio (ZMW Million), 2012-2016
        • Table Zambian Insurance Industry - Non-Life Insurance Investment Portfolio (ZMW Billion), 2016-2021
        • Table Zambian Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (ZMW Million), 2012-2016
        • Table Zambian Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (ZMW Million), 2016-2021
  • Life Insurance Outlook
    • Individual Life Insurance
      • Gross written premium
        • Table Zambian Individual Life Insurance - Gross Written Premium (ZMW Million and US$ Million), 2012-2016
        • Table Zambian Individual Life Insurance - Gross Written Premium (ZMW Million and US$ Million), 2016-2021
  • Non-Life Insurance Outlook
    • Property Insurance
      • Gross written premium
        • Table Zambian Property Insurance - Gross Written Premium (ZMW Million and US$ Million), 2012-2016
        • Table Zambian Property Insurance - Gross Written Premium (ZMW Million and US$ Million), 2016-2021
    • Motor Insurance
      • Gross written premium
        • Table Zambian Motor Insurance - Gross Written Premium (ZMW Million and US$ Million), 2012-2016
        • Table Zambian Motor Insurance - Gross Written Premium (ZMW Million and US$ Billion), 2016-2021
    • Liability Insurance
      • Gross written premium
        • Table Zambian Liability Insurance - Gross Written Premium (ZMW Million and US$ Million), 2012-2016
        • Table Zambian Liability Insurance - Gross Written Premium (ZMW Million and US$ Million), 2016-2021
    • Marine, Aviation and Transit Insurance
      • Gross written premium
        • Table Zambian Marine, Aviation and Transit Insurance - Gross Written Premium (ZMW Million and US$ Million), 2012-2016
        • Table Zambian Marine, Aviation and Transit Insurance - Gross Written Premium (ZMW Million and US$ Million), 2016-2021
  • Reinsurance Outlook
    • Reinsurance Accepted
      • Table Zambian Reinsurance - Premium Accepted (ZMW Million), 2012-2016
      • Table Zambian Reinsurance - Premium Accepted (ZMW Million), 2016-2021
    • Premium Ceded
      • Table Zambian Reinsurance - Premium Ceded by Insurance Segment (ZMW Billion), 2012-2016
      • Table Zambian Reinsurance - Premium Ceded by Insurance Segment (ZMW Billion), 2016-2021
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Earthquakes
    • Epidemics
    • Exposure
  • Competitive Landscape
    • Table Zambian Insurance Industry - Segment of the Leading Life Insurers (%), 2015
    • Table Zambian Insurance Industry - Segment Shares (%) of the Leading Non-Life
    • Company Profile
      • African Life Assurance Company Ltd - company overview
        • Table Insurance Company - Key Facts
      • Madison Life Insurance Company Zambia Ltd - company overview
        • Table Madison Life Insurance Company Zambia Ltd - Key Facts
      • Professional Insurance Corporation Zambia Plc - company overview
        • Table Professional Insurance Corporation Zambia Plc - Key Facts
      • ZSIC General Insurance Ltd - company overview
        • Table ZSIC General Insurance Ltd - Key Facts
      • Madison General Insurance Company Zambia Ltd - company overview
        • Table Madison General Insurance Company Zambia Ltd - Key Facts
  • Governance, Risk and Compliance
    • Table Zambia - 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 Zambia - Life Insurance Regulatory Framework
      • Property insurance
        • Table Zambia - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Zambia - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Zambia - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Aviation liability insurance
      • Social insurance system
      • Professional indemnity and fidelity insurance for insurance brokers
      • Group funeral assistance insurance scheme
    • Supervision and Control
      • International Association of Insurance Supervisors
      • African Insurance Organization
      • Pension and Insurance Authority
      • Insurance Association of Zambia
    • 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
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Zambia - 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 Zambian Life Insurance - Policies and Premium, 2012-2016
        • Table Zambian Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Zambian Life Insurance - Claims and Expenses, 2012-2016
        • Table Zambian Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Zambian Life Insurance - Assets and Investments, 2012-2016
        • Table Zambian Life Insurance - Assets and Investments, 2016-2021
      • Individual life insurance
        • Table Zambian Life Insurance - Individual Life Insurance, 2012-2016
        • Table Zambian Life Insurance - Individual Life Insurance, 2016-2021
      • Individual life insurance by category
        • Table Zambian Life Insurance - Individual Life Insurance by Category, 2012-2016
        • Table Zambian Life Insurance - Individual Life Insurance by Category, 2016-2021
    • Non-Life Insurance
      • Policies and premium
        • Table Zambian Non-Life Insurance - Policies and Premium, 2012-2016
        • Table Zambian Non-Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Zambian Non-Life Insurance - Claims and Expenses, 2012-2016
        • Table Zambian Non-Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Zambian Non-Life Insurance - Assets and Investments, 2012-2016
        • Table Zambian Non-Life Insurance - Assets and Investments, 2016-2021
      • Property insurance
        • Table Zambian Non-Life Insurance - Property Insurance, 2012-2016
        • Table Zambian Non-Life Insurance - Property Insurance, 2016-2021
      • Property insurance by category
        • Table Zambian Non-Life Insurance - Property Insurance by Category, 2012-2016
        • Table Zambian Non-Life Insurance - Property Insurance by Category, 2016-2021
      • Motor insurance
        • Table Zambian Non-Life Insurance - Motor Insurance, 2012-2016
        • Table Zambian Non-Life Insurance - Motor Insurance, 2016-2021
      • Liability insurance
        • Table Zambian Non-Life Insurance - Liability Insurance, 2012-2016
        • Table Zambian Non-Life Insurance - Liability Insurance, 2016-2021
      • Marine, aviation and transit insurance
        • Table Zambian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
        • Table Zambian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
    • Personal Accident and Health Insurance
      • Policies and premium
        • Table Zambian Personal Accident and Health Insurance - Policies and Premium, 2012-2016
        • Table Zambian Personal Accident and Health Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Zambian Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
        • Table Zambian Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Zambian Personal Accident and Health Insurance - Assets and Investments, 2012-2016
        • Table Zambian 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

The Insurance Industry in Zambia, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'The Insurance Industry in Zambia, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Zambian 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 Zambian 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 Zambia, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Zambian insurance industry, including:

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

This report provides a comprehensive analysis of the insurance industry in Zambia:
  • It provides historical values for the Zambian 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 Zambian 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 Zambia.
  • It profiles the top insurance companies in Zambia 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 Zambian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Zambian insurance industry.
  • Assess the competitive dynamics in the Zambian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Zambian insurance industry and their impact on companies and the industry's future.
Key Highlights
  • By 2017, the new Insurance Act 2013 (amendments to the 1997 Insurance Act) is expected to become applicable in Zambia.
  • In 2017, the Zambian government announced that all beneficiaries of the Farmer Input Support Program (FISP) will be covered by weather-indexed insurance.
  • In January 2017, Zambia National Marketeers Association (Zanamaca), in collaboration with Liberty Life Insurance, collaborated with the manufacturing company Uniturtle industries to provide low-cost funeral insurance to small-scale farmers and marketers.
  • In 2016, the Zambia Meteorological Department, with the support of Nasa and the International Research Institute for Climate and Society, launched a data platform that provides rainfall forecasts collected via satellite information.
  • In 2016, the Ministry of Labour and Social Security presented a draft social protection bill to address areas of social security such as pension, social health insurance, occupational injuries and diseases, and social assistance.


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