Albany, NY -- (ReleaseWire) -- 04/03/2014 -- Synopsis
The report provides in-depth industry analysis, information and insights of the insurance industry in Senegal, including:
The Senegalese insurance industry’s growth prospects by insurance segments and categories
The competitive landscape in the Senegalese insurance industry
The current trends and drivers of the Senegalese insurance industry
Challenges facing the Senegalese insurance industry
Detailed regulatory framework of the Senegalese insurance industry
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The Senegalese insurance industry is the third-largest among the Inter-African Conference on Insurance Markets (Conference Interafricaine des Marches d'Assurances – CIMA) member states in terms of gross written premium. The Senegalese insurance industry registered significant growth during the review period (2009–2013). The growth of the Senegalese insurance industry was affected by the global financial crisis, however, the industry’s written premium grew at a review-period CAGR of 7.5%. The insurance industry is expected to grow further at a CAGR of 8.3% during the forecast period (2013–2018). The insurance industry had 21 insurance companies and one reinsurance company in 2011.
This report provides a comprehensive analysis of the insurance industry in Senegal:
It provides historical values for the Senegalese insurance industry for the report’s 2009–2013 review period and projected figures for the 2013–2018 forecast period.
It offers a detailed analysis of the key segments and categories in the Senegalese 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 Senegal, and outlines the key regulations affecting them.
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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 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.
The Senegalese insurance industry is the third-largest among the Inter-African Conference on Insurance Markets
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, which recorded a review-period CAGR of 8.3%
The frequent occurrence of natural disasters such as flooding significantly affected the country’s non-life segment, especially property insurance
The non-life segment was led by motor insurance, followed by property, marine, aviation and transit insurance and general liability insurance
Exports played a significant role in the growth of the insurance industry
As of 2013, there were 21 insurers and one reinsurer operating in the country: six in the life segment and 15 in the non-life segment
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