Boston, MA -- (SBWIRE) -- 04/29/2013 -- Malawi has a small and growing insurance industry which encompasses a population of 16.63 million. It grew at a positive growth rate during the review period, recording a CAGR of 14.2% in terms of written premium value. The Malawian insurance industry is regulated by the registrar of Reserve Bank of Malawi (RBM), which is responsible for exerting control over the insurance and allied activities performed by all entities in the industry, including insurance companies, reinsurance companies, insurance brokers, loss adjusters and intermediaries. Over the forecast period, the insurance industry is expected to be driven by the growing economy and consistent efforts by the regulatory authority such as introduction of new directives to facilitate necessary upgradation. However, falling profitability and a low penetration rate will be the major challenges faced by Malawian insurers.

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Key Highlights

- Malawi has a small and growing insurance industry which encompasses a population of 16.63 million
- The performance of the group life insurance category in the life insurance segment was exceptional in 2011, due to the rise in the number of group life insurance policies
- The group life category is expected to drive the life insurance segment over the forecast period
- The agricultural sector continues to be the main driver of the Malawian economy
- Increased tobacco production will further increase exports from Malawi over the forecast period, resulting in positive growth in the insurance industry, supported by the promotion of marine and transit insurance

Scope

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

- It provides historical values for the Malawian 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 Malawian 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 Malawi 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 Malawian insurance industry and each segment within it
- Assess the competitive dynamics in the Malawian insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Malawian insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Malawian insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: NICO General Insurance Co, United General Insurance (UGI), Old Mutual, Vanguard Life Assurance, REAL Insurance Company, General Alliance Insurance (GAI)

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