2013-02-22 14:01:52 - Fast Market Research recommends "Kenya Insurance Report Q1 2013" from Business Monitor International, now available

Key Insights And Key Risks

The Kenya Insurance Report considers the prospects for both life and non-life insurers in the country. As of December 2012, we remain of the view that Kenya's insurance sector is dynamic and resilient. Premiums in both major segments are about 20% higher than they were in 2011. Although the insurance companies are small organisations by most standards, they are innovative and clearly understand the needs and challenges of their customers. Initiatives that have been announced in recent months include agricultural risk products that cover farmers against the impact of natural disaster, and facilities to pay premiums via mobile phones, and takaful. Another indicator of the potential for the non-life segment is that Kenya is one of

only four countries in Africa (the others being South Africa, Egypt and Uganda) in which global property and casualty insurance giant Chartis has an on-the-ground presence. Non-life penetration exceeds 2%, which is a high level for a country with Kenya's low per capita income.


Full Report Details at
- www.fastmr.com/prod/536490_kenya_insurance_report_q1_2013.aspx


In a country where many households are too poor to consider saving for the future, Kenya's life insurers have still managed to develop a segment that accounts for about a third of all premiums written in the insurance sector as a whole. In other words, they have collectively built sufficient trust among those Kenyans who can save for the long term. Given the country's tendency for high(ish) inflation, this is very much to their credit. Unlike some Eastern European countries, the development of the segment has not been driven entirely by multinational giants. South Africa's Metropolitan Life has a subsidiary in Kenya. Sanlam, another South African major, owns half of Pan Africa. Liberty and Old Mutual are also present. However, local life companies have also been key players in the segment's evolution. Life density is low by many standards but is clearly growing rapidly.

We remain optimistic about the prospects for Kenya's insurance sector, and this is reflected in our projections through to 2017.

Over the last quarter, BMI has made the following changes:

* The analysis incorporates BMI's latest forecasts for Kenya's economy, including details in relation to auto sales and trends in the healthcare sector.
* The analysis incorporates the latest comments on developments from the leading insurers and from the regulator.

Report Table of Contents:

BMI Industry View
- Table: Kenya's Insurance Sector, Total Premiums, 2010-2017
SWOT
- Insurance
- Political
- Economic
- Business Environment
Regional Overview
- MEA Life Sector Overview
- Middle East And North Africa Life Sector Overview
- Table: Middle East And Africa Life Premiums, 2010-2017 (US$mn)
- MEA Non Life Sector Overview
- Middle East and North Africa Non-Life Sector Overview
- Table: Middle East And Africa Non-Life Premiums, 2010-2017 (US$mn)
Industry Forecast
- Life
- Table: Kenya's Life Insurance Segment, 2010-2017
- Non Life
- Table: Total Non-Life Premiums 2010-2017
Market Overview
- Life Sector Update
- Non Life Sector Update
Industry Trends And Developments
- Life Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics 2010-2017
- Non Life Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Kenya - Economic Activity
- Political Stability Outlook
- Table: Kenya Political Overview, System of Government
- Healthcare
- Epidemiology
- Table: Insurance Key Drivers, Disability-Adjusted Life Years, 2010-2017
- Motor
- Islamic Finance
Industry Risk Reward Ratings
- Table: Kenya's Insurance Risk/Reward Ratings
- Table: Middle East and Africa Insurance Risk/Reward Ratings
Competitive Landscape
- Kenya Competitive Landscape
Company Profile
- AIG
- Britam
- Jubilee Insurance
- Liberty Holdings
- MMI Holdings
- Old Mutual
- Pan Africa Life Assurance
- Sanlam Group
Demographic Forecast
- Kenya Demographic Data
- Table: Kenya's Population By Age Group, 1990-2020 ('000)
- Table: Kenya's Population By Age Group, 1990-2020 (% of total)
- Table: Kenya's Key Population Ratios, 1990-2020
- Table: Kenya's Rural And Urban Population, 1990-2020
Methodology
- BMI Insurance Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Ratings Indicators And Rationale
- Weighting
- Table: Weighting Of Indicators

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