Boston, MA -- (SBWIRE) -- 06/11/2013 -- The Zambian insurance industry grew at a CAGR of 3.6% during the review period. It is led by the non-life insurance segment, which accounted for 48.5% of the total insurance written premium value in 2012. The life segment accounted for 24.4% and the personal accident and health segment accounted for 27.13%. The penetration rate of non-life insurance was the largest at 0.6% in 2012, followed by life insurance and personal accident and health insurance with 0.3% each. With a robust insurance regulatory framework and growing economy, the Zambian insurance industry is projected to grow at a CAGR of 10.1% over the forecast period.

Key Highlights

- The Zambian insurance industry grew at a CAGR of 3.6% during the review period.
- The life segment grew at a CAGR of 5% during the review period. However, annual growth increased at a lower rate of 10.53% in 2012, as compared to 23.91% in 2011.
- Despite impressive economic growth, Zambia has failed to reduce poverty and was, at the end of 2012, one among the poorest nations globally.
- Zambia is one of Sub-Saharan Africa's fastest-growing nations in terms of GDP growth, with estimated growth of 7.3% in 2012, considerably above the 4.8% rate estimated for Sub-Saharan Africa in the same year.
- The Zambian insurance industry is concentrated.

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Scope

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

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

Companies Mentioned in this Report: ZSIC Limited, Professional Insurance Corporation Zambia Ltd, Madison General Insurance Company Zambia Ltd, Goldman Insurance Ltd, African Life Assurance Zambia

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