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

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

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

Synopsis

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

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

This report provides a comprehensive analysis of the insurance industry in Zimbabwe:
  • It provides historical values for the Zimbabwean 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 Zimbabwean 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 Zimbabwe.
  • It profiles the top insurance companies in Zimbabwe 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 Zimbabwean insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Zimbabwean insurance industry.
  • Assess the competitive dynamics in the Zimbabwean insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Zimbabwean insurance industry and their impact on companies and the industry's future.
Key Highlights
  • On June 16, 2017, the Insurance and Pensions Commission (IPEC) introduced microinsurance regulation.
  • In 2017, First Mutual Health (FMHC) launched a mobile app to manage their insurance portfolio online. The app also enables the online purchase of insurance products from the company
  • FBC Insurance has adopted SSP’s digital insurance technology in order to operate more efficiently and remain compliant with the stringent Zimbabwean regulatory environment.
  • In March 2016, IPEC increased registration fees and levies for insurance companies and pension funds.
  • In 2016, Old Mutual Life, in partnership with Blue Marble Microinsurance, launched a drought insurance product providing insurance against seasonal droughts.


  • Key Facts and Highlights
    • Table Zimbabwean Insurance Industry - Key Facts, 2016
    • Table Zimbabwean Insurance Industry - Segment Shares of the Top Insurers, 2016
  • Executive Summary
  • Economy and Demographics
  • Industry Outlook
    • Industry Indicators
      • Gross written premium
        • Table Zimbabwean Insurance Industry - Gross Written Premium by Segment (US$ Million), 2012-2016
        • Table Zimbabwean Insurance Industry - Gross Written Premium by Segment (US$ Million), 2016-2021
        • Table Zimbabwean Insurance Industry - Density by Segment (US$), 2012-2016
        • Table Zimbabwean Insurance Industry - Density by Segment (US$), 2016-2021
      • Claims
        • Table Zimbabwean Insurance Industry - Paid Claims (US$ Million), 2012-2016
        • Table Zimbabwean Insurance Industry - Paid Claims (US$ Million), 2016-2021
      • Assets and investments
        • Table Zimbabwean Insurance Industry - Total Assets by Segment (US$ Billion), 2012-2016
        • Table Zimbabwean Insurance Industry - Total Assets by Segment (US$ Billion), 2016- 2021
        • Table Zimbabwean Insurance Industry - Total Investment Income by Segment (US$ Billion), 2012-2016
        • Table Zimbabwean Insurance Industry - Total Investment Income by Segment (US$ Billion), 2016-2021
        • Table Zimbabwean Insurance Industry - Life Insurance Investment Portfolio (US$ Million), 2012-2016
        • Table Zimbabwean Insurance Industry - Life Insurance Investment Portfolio (US$ Million), 2016-2021
  • Life Insurance Outlook
    • Individual Life Insurance
      • Gross written premium
        • Table Zimbabwean Individual Life Insurance - Gross Written Premium (US$ Million ), 2012-2016
        • Table Zimbabwean Individual Life Insurance - Gross Written Premium (US$ Million), 2016-2021
      • Penetration
    • Group Life Insurance
      • Gross written premium
        • Table Zimbabwean Group Life Insurance - Gross Written Premium (US$ Million), 2012-2016
        • Table Zimbabwean Group Life Insurance - Gross Written Premium (US$ Million), 2016-2021
      • Penetration
  • Non-Life Insurance Outlook
    • Property Insurance
      • Gross written premium
        • Table Zimbabwean Property Insurance - Gross Written Premium (US$ Million), 2012-2016
        • Table Zimbabwean Property Insurance - Gross Written Premium (US$ Million), 2016-2021
      • Penetration
    • Motor Insurance
      • Gross written premium
        • Table Zimbabwean Motor Insurance - Gross Written Premium (US$ Million), 2012-2016
        • Table Zimbabwean Motor Insurance - Gross Written Premium (US$ Million), 2016-2021
      • Penetration
    • Liability Insurance
      • Gross written premium
        • Table Zimbabwean Liability Insurance - Gross Written Premium (US$ Million), 2012-2016
        • Table Zimbabwean Liability Insurance - Gross Written Premium (US$ Million), 2016-2021
      • Penetration
    • Marine, Aviation and Transit Insurance
      • Gross written premium
        • Table Zimbabwean Marine, Aviation and Transit Insurance - Gross Written Premium (US$ Million), 2012-2016
        • Table Zimbabwean Marine, Aviation and Transit Insurance - Gross Written Premium (US$ Million), 2016-2021
      • Penetration
  • Personal Accident and Health Insurance Outlook
    • Personal Accident Insurance
      • Gross written premium
        • Table Zimbabwean Personal Accident Insurance - Gross Written Premium (US$ Million), 2012-2016
        • Table Zimbabwean Personal Accident Insurance - Gross Written Premium (US$ Million), 2016-2021
      • Penetration
    • Health Insurance
      • Gross written premium
        • Table Zimbabwean Health Insurance - Gross Written Premium (US$ Million), 2012-2015
        • Table Zimbabwean Health Insurance - Gross Written Premium (US$ Million), 2017-2021
      • Penetration
  • Reinsurance Outlook
    • Premium Ceded
      • Table Zimbabwean Reinsurance - Premium Ceded by Insurance Segment (US$ Million), 2012-2016
      • Table Zimbabwean Reinsurance - Premium Ceded by Insurance Segment (US$ Million), 2016-2021
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Earthquakes
    • Wildfires
    • Epidemics
    • Man-Made Hazards
    • Exposure
  • Competitive Landscape
    • Table Zimbabwean Life Insurance - Market Shares of Leading Insurers (%), 2016
    • Table Zimbabwean Non-Life Insurance - Market Shares of Leading Insurers (%), 2016
    • Table Zimbabwean Reinsurance - Market Shares of Leading Insurers (%), 2016
    • Company Profiles
      • Old Mutual Life Assurance Company Zimbabwe Ltd - company overview
        • Table Old Mutual Life Assurance Company Zimbabwe Ltd - Key Facts
      • Nicoz Diamond Insurance Ltd - company overview
        • Table Nicoz Diamond Insurance Ltd - Key Facts
      • Alliance Insurance Company (Pvt) Ltd - company overview
        • Table Alliance Insurance Company (Pvt) Ltd - Key Facts
      • Cell Insurance Company (Pvt) Ltd - company overview
        • Table Cell Insurance Company (Pvt) Ltd - Key Facts
      • Zimnat Lion Insurance Company Ltd - company overview
        • Table Zimnat Lion Insurance Company Ltd - Key Facts
  • Governance, Risk and Compliance
    • Table Zimbabwe - 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 Zimbabwe - Life Insurance Regulatory Framework
      • Property insurance
        • Table Zimbabwe - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Zimbabwe Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Zimbabwe - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workmen's compensation
    • Supervision and Control
      • African Insurance Organization
      • Insurance and Pensions Commission
    • 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 Zimbabwe - Corporate Tax Rates for the Financial Year 2017
      • VAT87
      • Captives
      • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Life Insurance
      • Policies and premium
        • Table Zimbabwean Life Insurance - Policies and Premium, 2012-2016
        • Table Zimbabwean Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Zimbabwean Life Insurance - Claims and Expenses, 2012-2016
        • Table Zimbabwean Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Zimbabwean Life Insurance - Assets and Investments, 2012-2016
        • Table Zimbabwean Life Insurance - Assets and Investments, 2016-2021
      • Individual life insurance
        • Table Zimbabwean Life Insurance - Individual Life Insurance, 2012-2016
        • Table Zimbabwean Life Insurance - Individual Life Insurance, 2016-2021
      • Group life insurance
        • Table Zimbabwean Life Insurance - Group Life Insurance, 2012-2016
        • Table Zimbabwean Life Insurance - Group Life Insurance, 2016-2021
    • Non-Life Insurance
      • Policies and premium
        • Table Zimbabwean Non-Life Insurance - Policies and Premium, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Zimbabwean Non-Life Insurance - Claims and Expenses, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Zimbabwean Non-Life Insurance - Assets and Investments, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Assets and Investments, 2016-2021
      • Insurance brokers and agencies
        • Table Zimbabwean Non-Life Insurance - Insurance Brokers and Agencies, 2012-2016
      • Property insurance
        • Table Zimbabwean Non-Life Insurance - Property Insurance, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Property Insurance, 2016-2021
      • Property insurance by category
        • Table Zimbabwean Non-Life Insurance - Property Insurance by Category, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Property Insurance by Category, 2016-2021
      • Motor insurance
        • Table Zimbabwean Non-Life Insurance - Motor Insurance, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Motor Insurance, 2016-2021
      • Liability insurance
        • Table Zimbabwean Non-Life Insurance - Liability Insurance, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Liability Insurance, 2016-2021
      • Marine, aviation and transit insurance
        • Table Zimbabwean Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
        • Table Zimbabwean Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
    • Personal Accident and Health Insurance
      • Policies and premium
        • Table Zimbabwean Personal Accident and Health Insurance - Policies and Premium, 2012-2016
        • Table Zimbabwean Personal Accident and Health Insurance - Policies and Premium, 2016-2021
      • Claims and expenses
        • Table Zimbabwean Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
        • Table Zimbabwean Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
      • Assets and investments
        • Table Zimbabwean Personal Accident and Health Insurance - Assets and Investments, 2012-2016
        • Table Zimbabwean Personal Accident and Health Insurance - Assets and Investments, 2016-2021
      • Personal accident insurance
        • Table Zimbabwean Personal Accident and Health Insurance - Personal Accident Insurance, 2012-2016
        • Table Zimbabwean Personal Accident and Health Insurance - Personal Accident Insurance, 2016-2021
      • Health insurance
        • Table Zimbabwean Personal Accident and Health Insurance - Health Insurance, 2012-2016
        • Table Zimbabwean Personal Accident and Health Insurance - Health Insurance, 2017-2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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