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Nigeria Insurance Report 2014: New research report available at Fast Market Research


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2013-12-04 02:50:50 - Recently published research from Business Monitor International, "Nigeria Insurance Report 2014", is now available at Fast Market Research

As of late 2013, it is clear that some of the objectives of the Market Development & Restructuring Initiative of NAICOM, Nigeria's insurance regulator, were overly ambitious. Nevertheless, positive changes are underway, and should benefit the country's leading insurers. The coming year or so will show whether the MDRI actually produces a meaningful rise in non-life penetration, as it should.

When NAICOM, the insurance regulator of Nigeria, launched its Market Development & Restructuring Initiative (MDRI), the ambitious objectives were due to have been achieved by the end of 2012. A year later, successes are hard to identify and to quantify. In terms of premiums written, we think that the entire insurance sector is only about one third of the size envisaged

by the architects of the MDRI. It is not at all clear that Nigerians have confidence in insurance companies. How many Nigerians actually use insurance is not clear: however the figure is far nearer the 6% of 2008 than the 30% hoped for.

Full Report Details at
- www.fastmr.com/prod/723486_nigeria_insurance_report_2014.aspx

Nevertheless, and as was the case last year, the overall tenor of this report is positive. Real progress has been made towards the objectives of the MDRI. Nigeria's leading insurance companies may be (very) small organisations by most standards, and lacking in pricing power. However, they have demonstrated the ability to survive in the face of enormous challenges. Several of them enjoy the backing of multi-lateral institutions such as the International Finance Corporation (IFC - the private sector arm of the World Bank). A number are in partnership with multi-nationals from South Africa, many of whom are looking to expand their businesses in the rest of Sub-Saharan Africa (SSA).

In fact, 2014 could well be the year which shows whether Nigeria's insurance sector really is moving towards the transformation hoped for by the architect of the MDRI and some other protagonists. In this report we explain the various developments that have been underway in the insurance sector and in the broader economy. Crucially, though, we identify the factors to look for in 2014 that will show where Nigeria's insurance sector is headed.

Report Table of Contents:

BMI Industry View
- Table: Nigeria's Total Premiums, 2010-2017
SWOT
- Insurance
- Political
- Economic
- Business Environment
Industry Forecast
- Industry Forecast - Life
- Table: Nigeria's Total Life Premiums, 2010-2017
- Industry Forecast - Non-Life
- Table: Nigeria's Total Non-Life Premiums, 2010-2017
Industry Risk Reward Ratings
- Table: Nigeria Insurance Risk Reward Ratings
- Africa Risk Reward Ratings
- Table: Nigeria's Insurance Risk/Reward Ratings
- Table: Middle East and Africa Insurance Risk/Reward Ratings
Market Overview
- Market Overview - Life
- Market Overview - Non-Life
Industry Trends And Developments
- Life Growth Drivers and Risk Management Projections
- Table: Insurance Key Drivers, Demographics 2010-2017
- Non Life Growth Drivers and Risk Management Projections
- Macroeconomic Forecast
- Table: Nigeria - Economic Activity
- Political Outlook
- Healthcare Sector
- Healthcare Sector Developments
- Healthcare Financing
- Healthcare Provision
- Health Insurance
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017
- Auto
- Table: Insurance Key Drivers, Autos 2010-2017
Competitive Landscape
- Competitive Landscape - Sub Saharan Africa
Company Profile
- Leadway Assurance Company
- Mansard Insurance
- Liberty Holdings
- MMI Holdings
- Sanlam Group
- Old Mutual
Regional Overview
- Sub-Saharan Africa - Life
- Table: Middle East And Africa - Life - Selected metrics (2011-2017)
- Sub-Saharan Africa - Non Life
- Table: Sub-Saharan Africa - Non-Life Insurance - Key Metrics (2012-17)
Demographic Forecast
- Demographic Outlook
- Table: Nigeria's Population By Age Group, 1990-2020 ('000)
- Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
- Table: Nigeria's Key Population Ratios, 1990-2020
- Table: Nigeria's Rural And Urban Population, 1990-2020
Methodology
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Insurance Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.


Author:
Bill Thompson
e-mail
Web: www.fastmr.com
Phone: 18008448156

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