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Published: Aug, 2016 | Pages:
133 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis
Timetric's 'The Insurance Industry in Burkina Faso Key Trends and Opportunities to 2020' report provides a detailed analysis of the Burkinabe 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 Burkinabe economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural and man-made 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 Burkina Faso, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Burkinabe insurance industry, including: • An overview of Burkinabe insurance industry • The Burkinabe insurance industry's growth prospects by segment and category • A comprehensive overview of the Burkinabe economy and demographics • The detailed competitive landscape in the Burkinabe insurance industry • Various distribution channels in the Burkinabe insurance industry • Detailed regulatory policies of the Burkinabe insurance industry • An analysis of natural hazards in the Burkinabe insurance industry
Scope
This report provides a comprehensive analysis of the insurance industry in Burkina Faso: • It provides historical values for Burkinabe 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 Burkinabe 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 analyzes the various distribution channels in Burkina Faso. • It profiles the top insurance companies in Burkina Faso, and outlines the key regulations affecting them. • It covers the economy and demographics structure of Burkina Faso. • It analyzes the impact of natural and man-made hazards in Burkinabe insurance industry.
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to Burkinabe insurance industry and each segment and category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in Burkinabe insurance industry. • Assess the competitive dynamics in Burkinabe insurance industry. • Identify the growth opportunities and market dynamics in key segments. • Gain insights into key regulations governing Burkinabe insurance industry and their impact on companies and the industry's future.
Key Highlights
• The Burkinabe insurance industry grew in terms of gross written premium value at a review-period CAGR of 10.1%. • Life insurance penetration stood at 0.03% in 2015. • Agriculture micro insurance is a popular type of micro insurance product in Burkina Faso. • In line with growth in construction activities, the demand for related insurance products is expected to grow over the forecast period. • On September 5, 2015, the government of Burkina Faso adopted universal health insurance system (AMU) to provide quality healthcare to every citizen in the country. • Insurers in Burkina Faso mainly focus on alternative distribution channels such as mobile networks, micro finance institutions and banks to sell their products.
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 4.2.2 Claims 4.2.3 Investments 5 LIFE INSURANCE OUTLOOK 5.1 Individual Life Insurance 5.1.1 Gross written premium 5.1.2 Penetration 5.2 Group Life Insurance 5.2.1 Gross written premium 5.2.2 Penetration 6 NON-LIFE INSURANCE OUTLOOK 6.1 Property Insurance 6.1.1 Gross written premium 6.1.2 Penetration 6.1.3 Profitability 6.2 Motor Insurance 6.2.1 Gross written premium 6.2.2 Penetration 6.2.3 Profitability 6.3 Liability Insurance 6.3.1 Gross written premium 6.3.2 Penetration 6.3.3 Profitability 6.4 Marine, Aviation and Transit Insurance 6.4.1 Gross written premium 6.4.2 Penetration 6.4.3 Profitability 7 PERSONAL ACCIDENT AND HEALTH INSURANCE OUTLOOK 7.1 Personal Accident and Health Insurance 7.1.1 Gross written premium 7.1.2 Penetration 7.1.3 Profitability 8 REINSURANCE OUTLOOK 8.1 Premium Ceded 9 Distribution Channel Outlook 10 NATURAL HAZARDS 10.1 Flooding 10.2 Droughts 10.3 Man Made Hazards 10.4 Epidemics 10.5 Exposure 11 COMPETITIVE LANDSCAPE 11.1 Company Profiles 11.1.1 Union des Assurances du Burkina - company overview 11.1.2 Societe Nationale d'Assurances et de Reassurances - company overview 11.1.3 Allianz Burkina Assurances - company overview 11.1.4 Generale des Assurances - company overview 11.1.5 Saham Assurance - 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 Motor third-party liability insurance 12.4.2 Professional indemnity insurance for insurance intermediaries 12.4.3 Worker's compensation 12.5 Supervision and Control 12.5.1 International Association of Insurance Supervisors 12.5.2 Commission Regional des Assurances (CRCA) 12.5.3 Direction Nationales des Assurances (DNA) 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 (ADR) 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 Individual life insurance 13.1.5 Individual life insurance by product 13.1.6 Group life insurance 13.1.7 Linked versus 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: Burkinabe Insurance Industry - Key Facts, 2015 Table 2: Burkinabe Insurance Industry - Segment Shares (%) of the Top Insurers, 2014 Table 3: Burkinabe Insurance Industry - Gross Written Premium by Segment (XOF Billion), 2011-2015 Table 4: Burkinabe Insurance Industry - Gross Written Premium by Segment (XOF Billion), 2015-2020 Table 5: Burkinabe Insurance Industry - Density (XOF) by Segment, 2011-2015 Table 6: Burkinabe Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (XOF), 2015-2020 Table 7: Burkinabe Insurance Industry - Paid Claims by Segment (XOF Billion), 2011-2015 Table 8: Burkinabe Insurance Industry - Paid Claims by Segment (XOF Billion), 2015-2020 Table 9: Burkinabe Insurance Industry - Total Investment Income by Segment (XOF Billion), 2011-2015 Table 10: Burkinabe Insurance Industry - Total Investment Income by Segment (XOF Billion), 2015-2020 Table 11: Burkinabe Insurance Industry - Life Insurance Investment Portfolio (XOF Billion), 2011-2015 Table 12: Burkinabe Insurance Industry - Life Insurance Investment Portfolio (XOF Billion), 2015-2020 Table 13: Burkinabe Insurance Industry - Non-Life Insurance Investment Portfolio (XOF Billion), 2011-2015 Table 14: Burkinabe Insurance Industry - Non-Life Insurance Investment Portfolio (XOF Billion), 2015-2020 Table 15: Burkinabe Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (XOF Billion), 2011-2015 Table 16: Burkinabe Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (XOF Billion), 2015-2020 Table 17: Burkinabe Individual Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2011-2015 Table 18: Burkinabe Individual Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2015-2020 Table 19: Burkinabe Group Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2011-2015 Table 20: Burkinabe Group Life Insurance - Gross Written Premium (XOF Billion and US$ Million), 2015-2020 Table 21: Burkinabe Property Insurance - Gross Written Premium (XOF Billion and US$ Million), 2011-2015 Table 22: Burkinabe Property Insurance - Gross Written Premium (XOF Billion and US$ Million), 2015-2020 Table 23: Burkinabe Property Insurance - Loss Ratio (%), 2011-2015 Table 24: Burkinabe Property Insurance - Loss Ratio (%), 2015-2020 Table 25: Burkinabe Motor Insurance - Gross Written Premium (XOF Billion and US$ Million), 2011-2015 Table 26: Burkinabe Motor Insurance - Gross Written Premium (XOF Billion and US$ Million), 2015-2020 Table 27: Burkinabe Motor Insurance - Loss Ratio (%),2011-2015 Table 28: Burkinabe Motor Insurance - Loss Ratio (%), 2015-2020 Table 29: Burkinabe Liability Insurance - Gross Written Premium (XOF Million and US$ Million), 2011-2015 Table 30: Burkinabe Liability Insurance - Gross Written Premium (XOF Million and US$ Million), 2015-2020 Table 31: Burkinabe Liability Insurance - Loss Ratio (%),2011-2015 Table 32: Burkinabe Liability Insurance - Loss Ratio (%), 2015-2020 Table 33: Burkinabe Marine, Aviation and Transit Insurance - Gross Written Premium (XOF Billion and US$ Million), 2011-2015 Table 34: Burkinabe Marine, Aviation and Transit Insurance - Gross Written Premium (XOF Billion and US$ Million), 2015-2020 Table 35: Burkinabe Marine, Aviation and Transit Insurance - Loss Ratio (%),2011-2015 Table 36: Burkinabe Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020 Table 37: Burkinabe Personal Accident and Health Insurance - Gross Written Premium (XOF Billion and US$ Million), 2011-2015 Table 38: Burkinabe Personal Accident and Health Insurance - Gross Written Premium (XOF Billion and US$ Million), 2015-2020 Table 39: Burkinabe Personal Accident and Health Insurance - Loss Ratio (%),2011-2015 Table 40: Burkinabe Personal Accident and Health Insurance - Loss Ratio (%), 2015-2020 Table 41: Burkinabe Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2011-2015 Table 42: Burkinabe Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2015-2020 Table 43: Burkinabe Insurance Industry - Market Shares of Leading Insurers (%), 2014 Table 44: Burkinabe Life Insurance Industry - Market Shares of Leading Insurers (%), 2014 Table 45: Burkinabe Non-Life Insurance Segment - Market Shares of Leading Insurers (%), 2014 Table 46: Union des Assurances du Burkina - Key Facts Table 47: Societe Nationale d'Assurances et de Reassurances - Key Facts Table 48: Allianz Burkina Assurance - Key Facts Table 49: Generale des Assurances - Key Facts Table 50: Saham Assurance - Key Facts Table 51: Burkina Faso - Insurance Regulatory Framework Key Features Table 52:Burkina Faso- Intermediary Remuneration Rates Table 53:Burkina Faso- Life Insurance Regulatory Framework Table 54: Burkina Faso- Property Insurance Regulatory Framework Table 55: Burkina Faso- Motor Insurance Regulatory Framework Table 56: Burkina Faso- Liability Insurance Regulatory Framework Table 57: Burkina Faso - Insurance Premium Tax Rates Table 58: Burkina Faso - Corporate Tax Rates for the Financial Year 2015 Table 59: Burkinabe Life Insurance - Policies and Premium, 2011-2015 Table 60: Burkinabe Life Insurance - Policies and Premium, 2015-2020 Table 61: Burkinabe Life Insurance - Claims and Expenses, 2011-2015 Table 62: Burkinabe Life Insurance - Claims and Expenses, 2015-2020 Table 63: Burkinabe Life Insurance - Assets and Investments, 2011-2015 Table 64: Burkinabe Life Insurance - Assets and Investments, 2015-2020 Table 65: Burkinabe Life Insurance - Individual Life Insurance, 2011-2015 Table 66: Burkinabe Life Insurance - Individual Life Insurance, 2015-2020 Table 67: Burkinabe Life Insurance - Individual Life Insurance by Product, 2011-2015 Table 68: Burkinabe Life Insurance - Individual Life Insurance by Product, 2015-2020 Table 69: Burkinabe Life Insurance - Group Life Insurance, 2011-2015 Table 70: Burkinabe Life Insurance - Group Life Insurance, 2015-2020 Table 71: Burkinabe Life Insurance - Linked vs. Non-Linked Policies, 2011-2015 Table 72: Burkinabe Life Insurance - Linked vs. Non-Linked Policies, 2015-2020 Table 73: Burkinabe Non-Life Insurance - Policies and Premium, 2011-2015 Table 74: Burkinabe Non-Life Insurance - Policies and Premium, 2015-2020 Table 75: Burkinabe Non-Life Insurance - Claims and Expenses, 2011-2015 Table 76: Burkinabe Non-Life Insurance - Claims and Expenses, 2015-2020 Table 77: Burkinabe Non-Life Insurance - Assets and Investments, 2011-2015 Table 78: Burkinabe Non-Life Insurance - Assets and Investments, 2015-2020 Table 79: Burkinabe Non-Life Insurance - Property Insurance, 2011-2015 Table 80: Burkinabe Non-Life Insurance - Property Insurance, 2015-2020 Table 81: Burkinabe Non-Life Insurance - Property Insurance by Product, 2011-2015 Table 82: Burkinabe Non-Life Insurance - Property Insurance by Product, 2015-2020 Table 83: Burkinabe Non-Life Insurance - Motor Insurance, 2011-2015 Table 84: Burkinabe Non-Life Insurance - Motor Insurance, 2015-2020 Table 85: Burkinabe Non-Life Insurance - Motor Insurance by Product, 2011-2015 Table 86: Burkinabe Non-Life Insurance - Motor Insurance by Product, 2015-2020 Table 87: Burkinabe Non-Life Insurance - Liability Insurance, 2011-2015 Table 88: Burkinabe Non-Life Insurance - Liability Insurance, 2015-2020 Table 89: Burkinabe Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015 Table 90: Burkinabe Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020 Table 91: Burkinabe Personal Accident and Health Insurance - Policies and Premium, 2011-2015 Table 92: Burkinabe Personal Accident and Health Insurance - Policies and Premium, 2015-2020 Table 93: Burkinabe Personal Accident and Health Insurance - Claims and Expenses, 2011-2015 Table 94: Burkinabe Personal Accident and Health Insurance - Claims and Expenses, 2015-2020 Table 95: Burkinabe Personal Accident and Health Insurance - Assets and Investments, 2011-2015 Table 96: Burkinabe Personal Accident and Health Insurance - Assets and Investments, 2015-2020 Table 97: Insurance Industry Definitions
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