Boston, MA -- (SBWIRE) -- 06/18/2013 -- Liberia has a small insurance industry, encompassing a population of around 4 million. Given its size, the insurance industry is highly competitive and fragmented. Despite a decade of peace and economic growth, it is still ranked among the poorest countries in the world. Several basic services such as electricity, landline phones, water and sewage infrastructure are limited. Poor infrastructural facilities have largely restricted the growth of the non-life insurance segment in Liberia. Propelled by strong economic growth, the Liberian insurance industry recorded strong growth during the review period (2008-2012), a trend which is expected to continue over the forecast period (2013-2017). GDP at current prices grew at a CAGR of 11.7% during the review period and is anticipated to expand at a CAGR of 9.3% over the forecast period. In line with economic growth, the industry grew at a CAGR of 28.6% during the review period and is projected to grow at a CAGR of 18.5% over the forecast period.

View Full Report Details and Table of Contents

Key Highlights

- The Liberian insurance industry, although very small, registered significant growth during the review period. This was mainly due to robust economic growth
- Liberia is renowned for iron mining and has been attracting large-scale foreign direct investment (FDI) from firms such as Mittal Steel, China Union and BHP Biliton. This is expected to spur the demand for engineering, marine, aviation and transit insurance products.
- The nation's rising population spurred demand for life insurance products during the review period, a trend which is expected to continue over the forecast period. Although Liberia's population is small, it recorded a CAGR of 4% during 2007-2010. In line with this, life insurance sales grew at a CAGR of 35.6% during the review period

Scope

This report provides a comprehensive analysis of the insurance industry in Liberia:

- It provides historical values for the Liberian insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key segments and categories in the Liberian insurance industry, along with industry forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Liberia and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast industry data related to the Liberian insurance industry and each segment within it
- Assess the competitive dynamics in the Liberian insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Liberian insurance industry

Companies Mentioned in this Report: Insurance Company of Africa, Omega Insurance Company, Accident & Casualty Insurance Company

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Financial Services research reports at Fast Market Research

You may also be interested in these related reports:

- The Insurance Industry in Jordan, Key Trends and Opportunities to 2017
- The Insurance Industry in Slovenia, Key Trends and Opportunities to 2017
- The Insurance Industry in Croatia, Key Trends and Opportunities to 2017
- The Insurance Industry in Estonia, Key Trends and Opportunities to 2017
- The Insurance Industry in Romania, Key Trends and Opportunities to 2017
- The Insurance Industry in Latvia, Key Trends and Opportunities to 2017
- The Insurance Industry in Uzbekistan, Key Trends and Opportunities to 2017
- The Insurance Industry in Bangladesh, Key Trends and Opportunities to 2017
- The Insurance Industry in Kuwait, Key Trends and Opportunities to 2017
- The Insurance Industry in Cyprus, Key Trends and Opportunities to 2017