Boston, MA -- (SBWIRE) -- 07/01/2013 -- The Ethiopian insurance industry is relatively under developed in comparison to that of other African countries. The nation recorded strong economic growth during the review period (2008-2012). GDP at current prices posted a CAGR of 30.8% during the review period and is projected to record a CAGR of 16.7% over the forecast period (2012-2017). However, the country is still ranked among the poorest in the world, indeed half of the population lives below the poverty line. Nevertheless, driven by economic growth, the insurance industry recorded a CAGR of 27% during the review period and is anticipated to value ETB6.8 billion (US$387.8 million) in 2017.

Key Highlights

- The Ethiopian insurance industry is relatively under developed in comparison to that of other African countries
- The nation recorded strong economic growth during the review period (2008-2012)
- Driven by economic growth, the insurance industry recorded a CAGR of 27% during the review period
- Most insurance companies in Ethiopia have sister banks and generate business by using them as a distribution channel
- These banks often refer their customers to purchase life insurance policies from their sister insurers
- The National Bank of Ethiopia (NBE), the insurance industry's regulatory authority, is undergoing a process of preparing a framework for microinsurance

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Scope

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

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

Companies Mentioned in this Report: Ethiopian Insurance Corporation, National Insurance Company of Ethiopia S.C, Africa Insurance Company S.C, Nyala Insurance Company S.C, Awash Insurance Company SC

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