2014-02-24 20:56:01 - The Insurance Industry in Burundi, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
Burundi has a relatively small, undeveloped financial sector that is dominated by banking. The insurance sector is also small and largely under developed, especially when compared with peer countries in the Sub-Saharan region. Private and partially government-owned insurance companies operate in the country. The sector is regulated by the Insurance Regulation and Control Agency, which falls under the Ministry of Finance. Six commercial banks and two insurance companies share the local market which is not fully occupied.
The insurance industry is expected to play an important role in the development of the financial sector by intermediating risks and making long-term resources available, but its performance is modest. The sector is outmoded and has a limited product range concentrated on mandatory motor
insurance products. The financial health and solvency of companies fall below regulatory requirements and international standards. Arrears in premiums are also a problem.
â¢ Despite the global financial crisis in 2009, the Burundian insurance industry registered growth.
â¢ The non-life insurance segment accounted for the largest proportion of the total insurance written premium value in 2012.
â¢ A new investment code came into force on January 1, 2009. This code is the result of an overhaul of the 2003 business regulatory framework which aimed to improve existing business laws and promote investment.
â¢ The life expectancy of the population rose from 48.5 years in 2007 to 50.3 years in 2011.
â¢ The healthcare expenditure per capita also increased from US$17.6 in 2007 to US$20.70 in 2010.
â¢ The insurance industrys penetration levels remained low.
This report provides a comprehensive analysis of the insurance industry in Burundi:
â¢ It provides historical values for the Burundian insurance industry for the reports 2008â2012 review period and forecast figures for the 2012â2017 forecast period
â¢ It offers a detailed analysis of the key segments and sub-segments in the Burundian insurance industry, along with forecasts until 2017
â¢ 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
â¢ It profiles the top insurance companies in Burundi, and outlines the key regulations affecting them
Reasons to Buy
â¢ Make strategic business decisions using in depth historic and forecast industry data related to the Burundian insurance industry and each segment within it
â¢ Understand the demand-side dynamics, key trends and growth opportunities within the Burundian insurance industry
â¢ Assess the competitive dynamics in the Burundian insurance industry
â¢ Identify the growth opportunities and market dynamics within key segments
â¢ Gain insights into key regulations governing the Burundian insurance industry and its impact on companies and the industrys future
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