Demand for Nigeria Insurance Products to See Boost from Rising Household Spending
In spite of low penetration levels, Nigeria's life and non-life insurance segments are set to grow at high single-digit to double-digit rates through the next years. The country's favourable economic prospects, leading to rising household spending, and rapidly growing population will produce a strong boost in demand for life and non-life products, which will attract more foreign insurance companies and consequently increase the level of competitiveness within both markets . Importantly, however, investors should be mindful of potential challenges which...
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