Fast Market Research

The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2017 - New Report Available

New Insurance market report from Timetric: "The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2017"

 

Boston, MA -- (SBWIRE) -- 04/18/2014 -- Burkina Faso has a small insurance industry that was liberalized in 1978. Prior to liberalization, there was only one state-owned insurance company: Society National Insurance and Reinsurance (SONAR). Following the liberalization, Union des Assurances du Burkina Vie (UAB) and AGF Burkina Assurances began operations.

Foreign-based insurance companies entered the industry in the 1990s. The country's economy is heavily reliant on exports and its main export partners are Switzerland, China, Belgium, Nigeria and Singapore. The global financial crisis in 2008 caused a decline in exports from the country, which adversely affected the industry due to its negative economic impact. However, the country's insurance industry exhibited gradual growth in line with the economy, the gross written premium increased by 11.9% in 2012 and 9.6% in 2013. The industry is projected to benefit from an estimated GDP growth rate of 7.9% in 2014 (according to IMF)."

View Full Report Details and Table of Contents

Report Highlights

- In terms of gross written premium, Burkina Faso has one of the smallest insurance industries in West Africa
- There were only 11 insurance companies and one reinsurance firm operating in the country, of which seven operated in the non-life insurance segment and four in the life insurance segment
- The higher interest rate of life insurance savings in comparison to general banking and additional facilities such as life cover encouraged the population to invest in individual life insurance products
- During the review period, the non-life segment's written premium increased at a CAGR of 8.0%
- The industry comprises both domestic and foreign insurance companies
- During the review period, the industry was led by domestic companies"

Report Scope

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

- It provides historical values for the Burkinabe 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 Burkinabe 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 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 Burkinabe insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Burkinabe insurance industry.
- Assess the competitive dynamics in the Burkinabe insurance industry.

Companies Mentioned in this Report: Union of Burkina Insurance, Society National Insurance and Reinsurance (SONAR), General Insurance, Allianz Insurance Burkina, Colina SA, Raynal Assurances SA,

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Insurance research reports at Fast Market Research

You may also be interested in these related reports:

- Life Insurance in Russia, Key Trends and Opportunities to 2017
- Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.
- Non-Life Insurance in France, Key Trends and Opportunities to 2017
- Non-Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian non-life segments written premium value grew from EUR6.5 billion in 2008 to EUR7.1 billion in 2012.
- Life Insurance in France, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in Thailand, Key Trends and Opportunities to 2017
- Life Insurance in China, Key Trends and Opportunities to 2017
- The Insurance Industry in Trinidad & Tobago, Key Trends and Opportunities to 2017
- The Insurance Industry in Uruguay, Key Trends and Opportunities to 2017
- The Insurance Industry in Belarus, Key Trends and Opportunities to 2017