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Published: Feb, 2017 | Pages:
89 | Publisher: Timetric
Industry: Pet Food | Report Format: Electronic (PDF)
Synopsis
Timetric's 'The Insurance Industry in Rwanda, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Rwandan 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 (2015-2020) periods. The report also gives a comprehensive overview of Rwanda's 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 Rwanda, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Rwandan insurance industry, including: • An overview of the Rwandan insurance industry • The Rwandan insurance industry's growth prospects by segment and category • A comprehensive overview of the Rwandan economy and demographics • The detailed competitive landscape in the Rwandan insurance industry • Details of regulatory policy applicable to the Rwandan insurance industry • Analysis of natural hazards in the Rwandan insurance industry
Scope
This report provides a comprehensive analysis of the insurance industry in Rwanda: • It provides historical values for the Rwandan 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 Rwandan 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 Rwanda, and highlights recent developments. • It covers the economy and demographic structure of Rwanda. • It analyzes the impact of natural hazards in the Rwandan insurance industry.
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Rwandan insurance industry and each segment and category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in the Rwandan insurance industry. • Assess the competitive dynamics in the Rwandan insurance industry. • Identify growth opportunities and market dynamics in key segments. • Gain insights into key regulations governing the Rwandan insurance industry, and their impact on companies and the industry's future.
Key Highlights
• The Rwandan insurance industry is attractive for new entrants, due to its low penetration and growing economy. • The relatively small elderly population limits awareness of retirement-related life products such as pension, annuity and superannuation insurance. • The unfavorable regulatory framework in Rwanda restricts demand for insurance. Rwanda applies 18.0% VAT to insurance premiums. • The non-life insurance segment accounted for 68.8% of the industry's gross written premium in 2015. • The Rwanda Revenue Authority has increased taxes to discourage used car imports and reduce carbon emissions.
Table of Contents
1 Key Facts and Highlights 2 Executive Summary 3 Economy and Demographics 4 Industry Outlook 4.1 Regional Comparison 4.2 Industry Indicators 4.2.1 Gross written premium 5 Life Insurance 6 Non-Life Insurance 6.1 Property Insurance 6.1.1 Penetration 6.2 Motor Insurance 6.2.1 Penetration 6.3 Liability Insurance 6.3.1 Penetration 6.4 Marine, Aviation and Transit Insurance 6.4.1 Penetration 7 Personal Accident and Health Insurance 8 Reinsurance 8.1 Premium Ceded 9 Distribution Channel Outlook 10 Natural and Man-Made Hazards 10.1 Flooding 10.2 Droughts 10.3 Landslides 10.4 Exposure 11 Competitive Landscape 11.1 Company Profiles 11.1.1 Sonarwa General Insurance Ltd - company overview 11.1.2 Soras Assurances Generales Ltd - company overview 11.1.3 Saham Assurance Rwanda Limited - company overview 11.1.4 Prime Insurance Ltd - company overview 11.1.5 Radiant Insurance Company - company overview 12 Governance, Risk and Compliance 12.1 Legislation Overview and Historical Evolution 12.2 Latest Changes in Regulation 12.3 Legislation and Market Practice by Type of Insurance 12.3.1 Life insurance 12.3.2 Property insurance 12.3.3 Motor insurance 12.3.4 Liability insurance 12.3.5 Marine, aviation and transit insurance 12.3.6 Personal accident and health insurance 12.4 Compulsory Insurance 12.4.1 Professional indemnity insurance for insurance brokers, agents and loss adjusters 12.4.2 Motor third-party liability insurance 12.4.3 Social health insurance 12.5 Supervision and Control 12.5.1 International Association of Insurance Supervisors 12.5.2 National Bank of Rwanda 12.6 Non-Admitted Insurance Regulations 12.6.1 Overview 12.6.2 Intermediaries 12.6.3 Market practices 12.6.4 Fines and Penalties 12.7 Company Registration and Operations 12.7.1 Type of insurance organization 12.7.2 Establishing a local company 12.7.3 Foreign ownership 12.7.4 Types of license 12.7.5 Capital requirements 12.7.6 Solvency margin 12.7.7 Reserve requirements 12.7.8 Investment regulations 12.7.9 Statutory return requirements 12.7.10 Fee structure 12.8 Taxation 12.8.1 Insurance premium or policy taxation 12.8.2 Withholding taxes on premium paid overseas 12.8.3 Corporate tax 12.8.4 VAT 12.8.5 Captives 12.9 Legal System 12.9.1 Introduction 12.9.2 Access to court 12.9.3 Alternative dispute resolution 13 Databook 13.1 Life Insurance 13.1.1 Policies and premium 13.1.2 Claims and expenses 13.1.3 Assets and investments 13.1.4 Linked vs. non-linked policies 13.2 Non-Life Insurance 13.2.1 Policies and premium 13.2.2 Claims and expenses 13.2.3 Assets and investments 13.2.4 Property insurance 13.2.5 Property insurance by product 13.2.6 Motor insurance 13.2.7 Motor insurance by product 13.2.8 Liability insurance 13.2.9 Marine, aviation and transit insurance 13.3 Personal Accident and Health Insurance 13.3.1 Policies and premium 13.3.2 Claims and expenses 13.3.3 Assets and investments 14 Definitions and Methodology 14.1 Definitions 14.2 Methodology 15 About Timetric 15.1 Contact Timetric 15.2 About Timetric 15.3 Timetric's Services 15.4 Disclaimer
List of Tables
Table 1: Rwandan Insurance Industry - Key Facts, 2015 Table 2: Rwandan Government Credit Ratings Table 3: Rwandan Insurance Industry - Gross Written Premium by Segment (RWF Billion), 2011-2015 Table 4: Rwandan Insurance Industry - Gross Written Premium by Segment (RWF Billion), 2015-2020 Table 5: Rwandan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (RWF), 2011-2015 Table 6: Rwandan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (RWF), 2015-2020 Table 7: Rwandan Life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2011-2015 Table 8: Rwandan Life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2015-2020 Table 9: Rwandan Non-life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2011-2015 Table 10: Rwandan Non-life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2015-2020 Table 11: Rwandan Personal Accident and Health Insurance - Gross Written Premium (RWF Billion and US$ Million), 2011-2015 Table 12: Rwandan Personal Accident and Health Insurance - Gross Written Premium (RWF Billion and US$ Million), 2015-2020 Table 13: Rwandan Reinsurance - Premium Ceded by Life Insurance Segment (RWF Million), 2011-2015 Table 14: Rwandan Reinsurance - Premium Ceded by Life Insurance Segment (RWF Million), 2015-2020 Table 15: Rwandan Average Annual Loss by Hazard (US$ Million), 1990-2014 Table 16: Rwandan Private Insurance Companies 2015 Table 17: Sonarwa General Insurance Limited - Key Facts Table 18: Soras Assurances Generales Ltd - Key Facts Table 19: Saham Assurance Rwanda Limited - Key Facts Table 20: Prime Insurance Ltd - Key Facts Table 21: Radiant Insurance Company - Key Facts Table 22: Rwanda - Insurance Regulatory Framework Key Features Table 23: Rwanda - Life Insurance Regulatory Framework Table 24: Rwanda - Property Insurance Regulatory Framework Table 25: Rwanda - Motor Insurance Regulatory Framework Table 26: Rwanda - Liability Insurance Regulatory Framework Table 27: Rwanda - Investment Limits Table 28: Rwanda - Fee Structure Table 29: Rwanda - Corporate Tax Rates for the Financial Year 2017 Table 30: Rwandan Life Insurance - Policies and Premium, 2011-2015 Table 31: Rwandan Life Insurance - Policies and Premium, 2015-2020 Table 32: Rwandan Life Insurance - Claims and Expenses, 2011-2015 Table 33: Rwandan Life Insurance - Claims and Expenses, 2015-2020 Table 34: Rwandan Life Insurance - Assets and Investments, 2011-2015 Table 35: Rwandan Life Insurance - Assets and Investments, 2015-2020 Table 36: Rwandan Life Insurance - Linked vs. Non-Linked Policies, 2011-2015 Table 37: Rwandan Life Insurance - Linked vs. Non-Linked Policies, 2015-2020 Table 38: Rwandan Non-Life Insurance - Policies and Premium, 2011-2015 Table 39: Rwandan Non-Life Insurance - Policies and Premium, 2015-2020 Table 40: Rwandan Non-Life Insurance - Claims and Expenses, 2011-2015 Table 41: Rwandan Non-Life Insurance - Claims and Expenses, 2015-2020 Table 42: Rwandan Non-Life Insurance - Assets and Investments, 2011-2015 Table 43: Rwandan Non-Life Insurance - Assets and Investments, 2015-2020 Table 44: Rwandan Non-Life Insurance - Property Insurance, 2011-2015 Table 45: Rwandan Non-Life Insurance - Property Insurance, 2015-2020 Table 46: Rwandan Non-Life Insurance - Property Insurance by Product, 2011-2015 Table 47: Rwandan Non-Life Insurance - Property Insurance by Product, 2015-2020 Table 48: Rwandan Non-Life Insurance - Motor Insurance, 2011-2015 Table 49: Rwandan Non-Life Insurance - Motor Insurance, 2015-2020 Table 50: Rwandan Non-Life Insurance - Motor Insurance by Product, 2011-2015 Table 51: Rwandan Non-Life Insurance - Motor Insurance by Product, 2015-2020 Table 52: Rwandan Non-Life Insurance - Liability Insurance, 2011-2015 Table 53: Rwandan Non-Life Insurance - Liability Insurance, 2015-2020 Table 54: Rwandan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015 Table 55: Rwandan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020 Table 56: Rwandan Personal Accident and Health Insurance - Policies and Premium, 2011-2015 Table 57: Rwandan Personal Accident and Health Insurance - Policies and Premium, 2015-2020 Table 58: Rwandan Personal Accident and Health Insurance - Claims and Expenses, 2011-2015 Table 59: Rwandan Personal Accident and Health Insurance - Claims and Expenses, 2015-2020 Table 60: Rwandan Personal Accident and Health Insurance - Assets and Investments, 2011-2015 Table 61: Rwandan Personal Accident and Health Insurance - Assets and Investments, 2015-2020 Table 62: Insurance Industry Definitions
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