The Insurance Industry in Senegal, Key Trends and Opportunities to 2017


Naperville, IL -- (SBWIRE) -- 04/22/2013 -- Reportstack, provider of premium market research reports announces the addition of The Insurance Industry in Senegal, Key Trends and Opportunities to 2017 market report to its offering
Senegal has a small insurance industry, which represented just 1.4% of the countrys GDP in 2011, lower than the African average of 4.8%. The Senegalese insurance industry is the third-largest among the Confrence Interafricaine des Marchs d'Assurances (CIMA) member states in terms of gross written premium. There were only 19 insurance and two reinsurance companies operating in Senegal in 2011: 13 in the non-life segment and six in the life segment. The global financial crisis had an indirect effect on the Senegalese insurance industry as the countrys economy is largely dependent on exports, in particular of cotton and peanuts. Growth in the construction industry, government initiatives towards private spending, rising automobile sales, and an increasing tendency towards savings supported the growth of the Senegalese insurance industry during the review period.

This report provides a comprehensive analysis of the insurance industry in Senegal:
It provides historical values for the Senegalese insurance industry for the reports 20082012 review period and forecast figures for the 20122017 forecast period
It offers a detailed analysis of the key segments and categories in the Senegalese 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

Reasons to Buy
Make strategic business decisions using in depth historic and forecast industry data related to the Senegalese insurance industry and each segment within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Senegalese insurance industry
Assess the competitive dynamics in the Senegalese insurance industry
Identify the growth opportunities and market dynamics within key segments
Gain insights into key regulations governing the Senegalese insurance industry and its impact on companies and the industry's future

Key Highlights
Senegal has a small insurance industry.
Rising awareness of savings among the Senegalese population encouraged them towards life insurance savings products, which supported the insurance industrys growth during the review period.
Developments such as the new airport in Diass, and the construction 467 miles of railway to link mines in the south-east of the country to Dakar are expected to support the insurance industry over the forecast period.
Rising healthcare costs and inadequate public healthcare services supported the growth of private health insurance in Senegal during the review period.
A new IMF program in Senegal encourages private sector development in the country, and is expected to support the insurance industry over the forecast period.

Companies Mentioned

Axa Assurances SA
Allianz Sngal Assurances Vie
Sonam Assurances SA
Amsa Assurances

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