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The Insurance Industry in the Central African Republic, Key Trends and Opportunities to 2018 - New Market Study Published

New Insurance market report from Timetric: "The Insurance Industry in the Central African Republic, Key Trends and Opportunities to 2018"

 
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Boston, MA -- (SBWIRE) -- 05/16/2014 -- The Central African Republic insurance industry grew at a compound annual growth rate (CAGR) of 10.8% during the review period (2009-2013). The increase was partly a consequence of stable economic development, the nation's expanding mining industry, and various infrastructure projects centering around the laying of fiber-optic cables, the modernizing transport routes and improving energy capacity. Growth in the life insurance segment, which recorded a review-period CAGR of 18.6%, also supported the growth of the Central African Republic insurance industry during the review period. However, the industry is relatively small on a global scale. Insurance penetration in Africa was low, at 1.6% in 2012. For the Central African Republic, however, the figure stood at 0.37% in 2012 and 0.44% in 2013, compared to the global average of 7.0% in 2012. Around 90% of the African population remains uninsured, which provides immense growth potential and foreign investment opportunities. This, combined with stable economic development of the Central African Republic region, is projected to support the development of the industry over the forecast period (2013-2018).

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Report Highlights

- The Central African Republic insurance industry grew at a compound annual growth rate (CAGR) of 10.8% during the review period.
- The country's low insurance penetration is expected to encourage new insurers to invest in the Central African Republic.
- The Central African Republic's insurance industry is highly underdeveloped, and is dominated by non-life providers.
- Non-life insurance accounted for 87.6% of the industry's total written premium in 2013, and is expected to lead the industry over the forecast period.
- Distribution is primarily carried out through general agents, brokers and self-employed agents.
- Levels of competition were low during the review period, with only two insurance providers.

Report Scope

This report provides a comprehensive analysis of the insurance industry in Central African Republic:

- It provides historical values for the Central African Republic insurance industry for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
- It offers a detailed analysis of the key segments and categories in the Central African Republic insurance industry, along with forecasts until 2018.
- 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 Central African Republic, and outlines the key regulations affecting them.

Reasons to Get this Report

Companies Mentioned in this Report: Union des Assurances Centrafricaines, Allianz Centrafrique Assurances,

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