Recently published research from Timetric, "The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2017", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 03/18/2013 -- Burkina Faso has one of the smallest insurance industries in West Africa in terms of gross written premium. There were only 11 insurers and one reinsurance company operating in the country in 2011. Out of these 11, seven operated in the non-life insurance segment and four in the life insurance segment. The global financial crisis had an indirect effect on the Burkinabe insurance industry as Burkina Faso's economy is largely dependent on exports of cotton and gold. The financial crisis led to a decline in exports from the country, which negatively impacted its economy and had a knock-on effect on the Burkinabe insurance industry during the review period.
- Insurance penetration as a percentage of GDP in Burkina Faso is very low compared to the penetration rates in developed countries.
- The Burkinabe insurance industry comprises both domestic and foreign insurance companies.
- The country's liberalization policy has encouraged companies such as Allianz to enter into the market.
- Growth in Burkina Faso's construction sector, a governmental initiative designed to encourage private spending, growth in automobile sales and the tendency of the population to save supported the growth of Burkinabe insurance industry during the review period.
- Burkina Faso's construction market is expanding, which drove insurance industry growth during the review period and is expected to continue to support growth over the forecast period.
- Growth in construction was triggered by real estate development and the revival of infrastructure developments in the country.
View Full Report Details and Table of Contents
This report provides a comprehensive analysis of the insurance industry in Burkina Faso:
- It provides historical values for the Burkina Faso 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 Burkina Faso 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 Burkina Faso 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 Burkina Faso insurance industry and each segment within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Burkina Faso insurance industry
- Assess the competitive dynamics in the Burkina Faso insurance industry
- Identify the growth opportunities and market dynamics within key segments
Companies Mentioned in this Report: Colina SA, Allianz Insurance Burkina, Raynal Assurance SA
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