Toll Free: 1-888-928-9744
Toll Free: 1-888-928-9744
Published: Oct, 2017 | Pages:
103 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis
Timetric's 'The Insurance Industry in Rwanda, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in 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 period (2012-2016) and forecast period (2016-2021). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Rwandan 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 Rwanda, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Rwandan insurance industry, including: • The Rwandan insurance industry's growth prospects by segment and category • A comprehensive overview of Rwandan economy and demographics • The detailed competitive landscape in the Rwandan insurance industry • The various distribution channels in the Rwandan insurance industry • Detailed regulatory policies of the Rwandan insurance industry • Analysis of natural hazards in 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 2012-2016 review period, and projected figures for the 2016-2021 forecast period. • It offers a detailed analysis of the key segments in the Rwandan 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 Rwanda. • It profiles the top insurance companies in Rwanda 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 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 the 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
• On March 20, 2017, the National Bank of Rwanda (BNR) issued a regulation which aims to establish administrative and pecuniary sanctions applicable to insurers for violations of the law governing the organization of insurance business and the implementation of regulations, directives and decisions of the BNR. • As of June 2016, the financial sector of Rwanda was well capitalized, with its assets growth increasing from 53.8% in June 2015 to 55.0% in June 2016. The country has 494 microfinance institutions, 88 foreign exchange bureaus, 63 pension schemes and 17 banks. • In 2016, the Rwanda Revenue Authority implemented a new tax policy. The raised tax rate will discourage used car imports and support cuts on carbon emissions. The policy mainly targets vehicles that are more than one year old. • The Rwandan insurance industry comprises 15 insurance providers, of which nine are non-life insurers, four are life insurance providers and two are public medical insurers.
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 Insurance density 4.2.3 Assets and investments 5 Life Insurance 6 Non-Life Insurance 6.1 Property Insurance 6.1.1 Gross written premium 6.1.2 Penetration 6.2 Motor Insurance 6.2.1 Gross written premium 6.2.2 Penetration 6.3 Liability Insurance 6.3.1 Gross written premium 6.3.2 Penetration 6.4 Marine, Aviation and Transit Insurance 6.4.1 Gross written premium 6.4.2 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 Windstorms 10.5 Earthquakes 10.6 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 Ltd - 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 Assets and investments 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 category 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: Rwanda Insurance Industry - Key Facts, 2016 Table 2: Rwanda Insurance Industry - Leading Insurers, 2016 Table 3: Rwandan Government Credit Ratings Table 4: Rwandan Insurance Industry - Gross Written Premium by Segment (RWF Billion), 2012-2016 Table 5: Rwandan Insurance Industry - Gross Written Premium by Segment (RWF Billion), 2016-2021 Table 6: Rwandan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (RWF), 2012-2016 Table 7: Rwandan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (RWF), 2016-2021 Table 8: Rwandan Insurance Industry - Total Investment Income by Segment (RWF Billion), 2012-2016 Table 9: Rwandan Insurance Industry - Total Investment Income by Segment (RWF Billion), 2016-2021 Table 10: Rwanda Life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2012-2016 Table 11: Rwanda Life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2016-2021 Table 12: Rwanda Non-Life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2012-2016 Table 13: Rwanda Non-Life Insurance - Gross Written Premium (RWF Billion and US$ Million), 2016-2021 Table 14: Rwandan Property Insurance - Gross Written Premium (RWF Billion and US$ Million), 2012-2016 Table 15: Rwandan Property Insurance - Gross Written Premium (RWF Billion and US$ Million), 2016-2021 Table 16: Rwandan Motor Insurance - Gross Written Premium (RWF Billion and US$ Million), 2012-2016 Table 17: Rwandan Motor Insurance - Gross Written Premium (RWF Billion and US$ Million), 2016-2021 Table 18: Rwandan Liability Insurance - Gross Written Premium (RWF Billion and US$ Million), 2012-2016 Table 19: Rwandan Liability Insurance - Gross Written Premium (RWF Billion and US$ million), 2016-2021 Table 20: Rwandan Marine, Aviation and Transit Insurance - Gross Written Premium (RWF Billion and US$ Million), 2012-2016 Table 21: Rwandan Marine, Aviation and Transit Insurance - Gross Written Premium (RWF Billion and US$ Million), 2016-2021 Table 22: Rwandan Personal Accident and Health Insurance - Gross Written Premium (RWF Billion and US$ Million), 2012-2016 Table 23: Rwandan Personal Accident and Health Insurance - Gross Written Premium (RWF Billion and US$ Million), 2016-2021 Table 24: Rwandan Reinsurance - Premium Ceded by Insurance Segment (RWF Million), 2012-2016 Table 25: Rwandan Reinsurance - Premium Ceded by Insurance Segment (RWF Million), 2016-2021 Table 26: Rwandan Average Annual Loss by Hazard (US$ Million), 1990-2014 Table 27: Rwanda - Leading Insurance Companies, 2016 Table 28: Sonarwa General Insurance Limited - Key Facts Table 29: Soras Assurances Generales Ltd - Key Facts Table 30: Saham Assurance Rwanda Limited - Key Facts Table 31: Prime Insurance Ltd - Key Facts Table 32: Radiant Insurance Company - Key Facts Table 33: Rwanda - Insurance Regulatory Framework Key Features Table 34: Rwanda - Pecuniary Sanctions Table 35: Rwanda - Life Insurance Regulatory Framework Table 36: Rwanda - Property Insurance Regulatory Framework Table 37: Rwanda - Motor Insurance Regulatory Framework Table 38: Rwanda - Liability Insurance Regulatory Framework Table 39: Rwanda - Investment Limits Table 40: Rwanda - Fee Structure Table 41: Rwanda - Corporate Tax Rates for the Financial Year 2017 Table 42: Rwandan Life Insurance - Policies and Premium, 2012-2016 Table 43: Rwandan Life Insurance - Policies and Premium, 2016-2021 Table 44: Rwandan Life Insurance - Assets and Investments, 2012-2016 Table 45: Rwandan Life Insurance - Assets and Investments, 2016-2021 Table 46: Rwandan Non-Life Insurance - Policies and Premium, 2012-2016 Table 47: Rwandan Non-Life Insurance - Policies and Premium, 2016-2021 Table 48: Rwandan Non-Life Insurance - Claims and Expenses, 2012-2016 Table 49: Rwandan Non-Life Insurance - Claims and Expenses, 2016-2021 Table 50: Rwandan Non-Life Insurance - Assets and Investments, 2012-2016 Table 51: Rwandan Non-Life Insurance - Assets and Investments, 2016-2021 Table 52: Rwandan Non-Life Insurance - Property Insurance, 2012-2016 Table 53: Rwandan Non-Life Insurance - Property Insurance, 2016-2021 Table 54: Rwandan Non-Life Insurance - Property Insurance by Category, 2012-2016 Table 55: Rwandan Non-Life Insurance - Property Insurance by Category, 2016-2021 Table 56: Rwandan Non-Life Insurance - Motor Insurance, 2012-2016 Table 57: Rwandan Non-Life Insurance - Motor Insurance, 2016-2021 Table 58: Rwandan Non-Life Insurance - Motor Insurance by Category, 2012-2016 Table 59: Rwandan Non-Life Insurance - Motor Insurance by Category, 2016-2021 Table 60: Rwandan Non-Life Insurance - Liability Insurance, 2012-2016 Table 61: Rwandan Non-Life Insurance - Liability Insurance, 2016-2021 Table 62: Rwandan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016 Table 63: Rwandan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021 Table 64: Rwandan Personal Accident and Health Insurance - Policies and Premium, 2012-2016 Table 65: Rwandan Personal Accident and Health Insurance - Policies and Premium, 2016-2021 Table 66: Rwandan Personal Accident and Health Insurance - Claims and Expenses, 2012-2016 Table 67: Rwandan Personal Accident and Health Insurance - Claims and Expenses, 2016-2021 Table 68: Rwandan Personal Accident and Health Insurance - Assets and Investments, 2012-2016 Table 69: Rwandan Personal Accident and Health Insurance - Assets and Investments, 2016-2021 Table 70: Insurance Industry Definitions
Speak to the report author to design an exclusive study to serve your research needs.
Your personal and confidential information is safe and secure.
