Boston, MA -- (SBWIRE) -- 07/02/2013 -- Volatile economic conditions in Madagascar had little impact on the insurance industry, which registered a CAGR of 26.7% during the review period. Penetration as percentage of GDP stood lower than neighboring Mozambique. This low penetration rate is expected to provide scope for growth over the forecast period. Since Madagascar Mining Corporation began mineral extraction in 2008, the country's mining industry has undergone a period of growth. The start of production at the nation's largest mine fuelled growth for mining-related insurance products. Madagascar is one of the world's poorest countries and, according to the World Bank, the standard of living has decreased significantly over the past two decades. These unfavorable demographics and economic factors are expected to be a challenge to industry growth over the forecast period.

Key Highlights

- The non-life insurance segment accounted for the largest share of the total insurance written premium value in 2012.
- The personal accident and health insurance segment accounted for second largest market share of the industry's written premium value in 2012.
- Insurance penetration is low compared to neighboring Mozambique and this provides significant scope for industry growth over the forecast period.
- Industry growth was mainly led by the non-life insurance segment which registered a CAGR of 25.7% during the review period and accounted for 70.6% of the industry's written premium value in 2012.
- The property insurance category was the second-largest category in the non-life insurance segment during the review period.

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Scope

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

- It provides historical values for the Malagasy 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 Malagasy insurance industry, along with industry forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Madagascar 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 Malagasy insurance industry and each segment within it
- Assess the competitive dynamics in the Malagasy insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Malagasy insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Malagasy insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: Compagnie D'assurances Et De Reassurances Omnibranches (ARO), Allianz Madagascar Assurances, Colina SA

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