Naperville, IL -- (SBWIRE) -- 03/11/2013 -- Côte d’Ivoire (sometimes anglicized as Ivory Coast) has a small insurance industry, encompassing a population of around 23.4 million. Given its size, the insurance industry is highly competitive and fragmented with 29 companies having a presence. GDP at constant prices in Côte d’Ivoire fell by 4.7% in 2011 due to post-electoral violence. This had an adverse affect on the insurance industry, and growth in the life and non-life segments slowed in 2011. The IMF and the World Bank approved debt relief with a present value of US$4.4 billion for Côte d’Ivoire in 2012 which, combined with other debt relief, makes a total fund of US$7.7 billion. This fund is expected to enhance the country’s business environment. The global financial crisis had an indirect effect on the Ivoirian insurance industry, as the country’s economy is largely dependent on commodity exports. As a result, written premiums in marine, aviation and transit insurance fell by 21.8% in 2009 over the previous year.
Scope
This report provides a comprehensive analysis of the insurance industry in Côte d'Ivoire:
- It provides historical values for the Ivoirian 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 Ivoirian 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 profiles the top insurance companies in Côte d'Ivoire and outlines the key regulations affecting them
Reasons to Buy
- Make strategic business decisions using in depth historic and forecast industry data related to the Ivoirian insurance industry and each segment within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Ivoirian insurance industry
- Assess the competitive dynamics in the Ivoirian insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Ivoirian insurance industry and its impact on companies and the industry's future
Key Highlights
- Insurance penetration as a percentage of GDP in Côte d’Ivoire is very low in comparison with developed countries.
- The Ivoirian insurance industry comprises both domestic and foreign insurance companies.
- Foreign direct investment is allowed, and global insurer Allianz has been active in Côte d’Ivoire since 1976.
- The distribution of insurance products through bancassurance is rising in Côte d’Ivoire.
- The rising population in Côte d’Ivoire spurred demand for all types of life insurance products during the review period, and the trend is expected to continue over the forecast period.
- Demand for life products in general is largely dependent on a country’s population and its growth.
- Poverty has been the main obstacle to growth for the Ivoirian insurance industry, particularly in rural areas.
Companies Mentioned
Colina SA Colina Vie Union des Assurances de Côte d'Ivoire Vie Nouvelle Societe Interafricaine D’assurances NSIA Vie Côte d’Ivoire
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