Boston, MA -- (SBWIRE) -- 04/15/2014 -- The Senegalese insurance industry is the third-largest among the Inter-African Conference on Insurance Markets (Conference Interafricaine des Marches d'Assurances - CIMA) member states in terms of gross written premium. The Senegalese insurance industry registered significant growth during the review period (2009-2013). The growth of the Senegalese insurance industry was affected by the global financial crisis, however, the industry's written premium grew at a review-period CAGR of 7.5%. The insurance industry is expected to grow further at a CAGR of 8.3% during the forecast period (2013-2018). The insurance industry had 21 insurance companies and one reinsurance company in 2011.
- The Senegalese insurance industry is the third-largest among the Inter-African Conference on Insurance Markets
- Growth in the construction industry, government initiatives towards private spending, rising automobile sales, and an increasing tendency towards savings supported the growth of the Senegalese insurance industry, which recorded a review-period CAGR of 8.3%
- The frequent occurrence of natural disasters such as flooding significantly affected the country's non-life segment, especially property insurance
- The non-life segment was led by motor insurance, followed by property, marine, aviation and transit insurance and general liability insurance
- Exports played a significant role in the growth of the insurance industry
- As of 2013, there were 21 insurers and one reinsurer operating in the country: six in the life segment and 15 in the non-life segment"
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This report provides a comprehensive analysis of the insurance industry in Senegal:
- It provides historical values for the Senegalese 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 Senegalese insurance industry, along with 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 Senegal, 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 Senegalese insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Senegalese insurance industry.
- Assess the competitive dynamics in the Senegalese insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
Companies Mentioned in this Report: Sonam Assurances SA, Allianz Senegal Assurances Vie, Union des Assurances du Senegal Vie (Uasen Vie), Amsa Assurances Vie, Axa Assurances SA, Nsia Senegal Assurances, La Prevoyance Assurances SA,
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