Naperville, IL -- (SBWIRE) -- 03/11/2013 -- The Congolese insurance industry is regulated by CIMA, which is responsible for regulation across the entire CFA Franc zone. The principal act governing Congolese insurance and reinsurance companies is regional insurance law which was imposed by CIMA as part of a treaty signed by the Francophone African states. Motor third-party liability, cargo and workers compensation insurance are compulsory in Congo. Foreign insurers are not permitted to operate in the Congolese insurance industry. There are only six insurance companies providing insurance services in Congo: Insurance and Reinsurance of Congo, AGC-Congo, AGC-Vie Congo, New Inter Insurance Company, NSIA-Vie Congo, and Allianz-Africa. Among these Allianz-Africa is the newest and was established in early 2012.
This report provides a comprehensive analysis of the insurance industry in Congo:
- It provides historical values for the Congolese 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 Congolese 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 outlines the key regulations affecting the insurance industry in Congo
Reasons to Buy
- Make strategic business decisions using in depth historic and forecast industry data related to the Congolese insurance industry and each segment within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Congolese insurance industry
- Assess the competitive dynamics in the Congolese insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Congolese insurance industry and its impact on companies and the industry's future
- The insurance industry in the Democratic Republic of the Congo (Congo) is relatively small and under developed and has only six operational companies.
- Due to political instability and an unpredictable monetary policy, the overall financial system is vulnerable.
- The key factors affecting the performance of the industry during the review period include poverty, political imbalance and the global economic crisis.
- The industry driver is the non-life segment which accounts for 70% of the total gross written premium.
- The Conférence Internationale des Marchésd’ Assurances (CIMA) established on July 10, 1992, is the official industry regulator.
Allianz AFRICA Assurances Generales Du Congo (AGC) NSIA Assurance
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