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The Insurance Industry in Cape Verde, Key Trends and Opportunities to 2022

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Details

The Insurance Industry in Cape Verde, Key Trends and Opportunities to 2022

 

Summary

 

GlobalData's "The Insurance Industry in Cape Verde, Key Trends and Opportunities to 2022" report provides detailed analysis of the market trends, drivers and challenges in the Cape Verdean insurance industry.

 

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

 

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Cape Verdean economy and demographics, and provides detailed information on the competitive landscape in the country.

 

The report brings together GlobalData's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

 

Inside this report, we look at the top themes, its predictions and identify winners and losers.

 

The report provides in-depth market analysis, information and insights into the Cape Verdean insurance industry, including-

- The Cape Verdean insurance industry's growth prospects by segment and category

- A comprehensive overview of the Cape Verdean economy and demographics

- Details of the competitive landscape in the Cape Verdean insurance industry

- The various distribution channels in the Cape Verdean insurance industry

- Details of regulatory policy applicable to the Cape Verdean insurance industry

- Analysis of natural hazards in the Cape Verdean insurance industry.

 

Scope

 

- This report provides a comprehensive analysis of the insurance industry in Cape Verde

- It provides historical values for the Cape Verdean insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

- It offers a detailed analysis of the key segments in the Cape Verdean insurance industry, with market forecasts to 2022.

- It covers an exhaustive list of parameters, including written premium and claims.

- It analyzes the various distribution channels in Cape Verde.

- It profiles the top insurance companies in Cape Verde, and outlines the key regulations affecting them.

 

Reasons to buy

 

- Make strategic business decisions using in-depth historic and forecast market data related to the Cape Verdean insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Cape Verdean insurance industry.

- Assess the competitive dynamics in the Cape Verdean insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Cape Verdean insurance industry and their impact on companies and the industry's future.

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Table Of Content

Scope

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Industry Outlook

4.1 Industry Indicators

4.1.1 Gross written premium

4.1.2 Insurance density

4.1.3 Active policies

4.1.4 Paid claims

5 Life Insurance Outlook

5.1 Segment Indicators

5.1.1 Gross written premium

5.1.2 Active policies

5.1.3 Paid claims

5.1.4 Penetration

6 General Insurance Outlook

6.1 Segment Indicators

6.1.1 Gross written premium

6.1.2 Active policies

6.1.3 Paid claims

6.1.4 Penetration

6.1.5 Loss ratio

6.2 Property Insurance

6.2.1 Gross written premium

6.2.2 Active policies

6.2.3 Penetration

6.2.4 Profitability

6.3 Motor Insurance

6.3.1 Gross written premium

6.3.2 Active policies

6.3.3 Penetration

6.3.4 Claims

6.3.5 Profitability

6.4 Liability Insurance

6.4.1 Gross written premium

6.4.2 Active policies

6.4.3 Penetration

6.4.4 Profitability

6.5 Marine, Aviation and Transit Insurance

6.5.1 Gross written premium

6.5.2 Active policies

6.5.3 Penetration

6.5.4 Profitability

6.6 Personal Accident and Health Insurance

6.6.1 Gross written premium

6.6.2 Active policies

6.6.3 Penetration

6.6.4 Profitability

6.7 Miscellaneous

6.7.1 Gross written premium

6.7.2 Active policies

6.7.3 Penetration

6.7.4 Profitability

7 Reinsurance Outlook

7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

9.1 Flooding

9.2 Volcanoes

9.3 Exposure

10 Competitive Landscape

10.1 Company Profiles

10.1.1 Garantia Seguros-company overview

10.1.2 Impar Seguros-company overview

11 Governance, Risk and Compliance

11.1 Legislation Overview and Historical Evolution

11.2 Latest Changes in Regulation

11.3 Legislation and Market Practice by Type of Insurance

11.3.1 Life insurance

11.3.2 Property insurance

11.3.3 Motor insurance

11.3.4 Liability insurance

11.3.5 Marine, aviation and transit insurance

11.3.6 Personal accident and health insurance

11.4 Compulsory Insurance

11.4.1 Motor third-party liability insurance

11.4.2 Workers' compensation insurance

11.4.3 Liability insurance for ships with respect to oil pollution

11.4.4 Professional indemnity for insurance brokers

11.5 Supervision and Control

11.5.1 International Association of Insurance Supervisors

11.5.2 African Insurance Organization

11.5.3 Bank of Cape Verde

11.6 Non-Admitted Insurance Regulations

11.6.1 Overview

11.6.2 Intermediaries

11.6.3 Market practices

11.6.4 Fines and Penalties

11.7 Company Registration and Operations

11.7.1 Type of insurance organization

11.7.2 Establishing a local company

11.7.3 Foreign ownership

11.7.4 Types of license

11.7.5 Capital requirements

11.7.6 Solvency margin

11.7.7 Reserve requirements

11.7.8 Investment regulations

11.7.9 Statutory return requirements

11.7.10 Fee structure

11.8 Taxation

11.8.1 Insurance premium or policy taxation

11.8.2 Withholding taxes on premium paid overseas

11.8.3 Corporate tax

11.8.4 VAT

11.8.5 Captives

11.9 Legal System

11.9.1 Introduction

11.9.2 Access to court

11.9.3 Alternative dispute resolution

12 Databook

12.1 Life Insurance

12.1.1 Policies and premium

12.1.2 Claims and expenses

12.2 General Insurance

12.2.1 Policies and premium

12.2.2 Claims and expenses

12.2.3 Property insurance

12.2.4 Motor insurance

12.2.5 Liability insurance

12.2.6 Marine, aviation and transit insurance

12.2.7 Personal accident and health insurance

12.2.8 Miscellaneous

13 Definitions and Methodology

13.1 Definitions

13.2 Methodology

14 About GlobalData

14.1 Contact GlobalData

14.2 About GlobalData

14.3 GlobalData's Services

14.4 Disclaimer


List Of Figure

List of Figures

Figure 1: Cape Verdean Real GDP (CVE Billion), 2013-2022

Figure 2: Cape Verdean Exchange Rate (CVE per USD ), 2013-2022

Figure 3: Cape Verdean Consumer Price Inflation (%), 2013-2022

Figure 4: Cape Verdean Current Account Balance (% of GDP), 2013-2016

Figure 5: Cape Verdean Unemployment Rate, 2013-2022

Figure 6: Cape Verdean Population by Age Group (Thousand), 2013-2021

Figure 7: Cape Verdean Insurance Industry-Gross Written Premium (CVE Billion), 2013-2022

Figure 8: Cape Verdean Insurance Industry-Density (CVE), 2013-2022

Figure 9: Cape Verdean Insurance Industry-Number of Active Policies (Thousand), 2013-2022

Figure 10: Cape Verdean Insurance Industry-Paid Claims (CVE Million), 2013-2022

Figure 11: Cape Verdean Life Insurance-Gross Written Premium (CVE Million), 2013-2022

Figure 12: Cape Verdean Life Insurance-Number of Active Policies (Thousand), 2013-2022

Figure 13: Cape Verdean Life Insurance-Paid Claims (CVE Million), 2013-2022

Figure 14: Cape Verdean Life Insurance-Penetration (%), 2013-2017

Figure 15: Cape Verdean Life Insurance-Penetration (%), 2017-2022

Figure 16: Cape Verdean General Insurance-Gross Written Premium (CVE Billion), 2013-2022

Figure 17: Cape Verdean General Insurance-Number of Active Policies (Thousand), 2013-2022

Figure 18: Cape Verdean General Insurance-Paid Claims (CVE Million), 2013-2022

Figure 19: Cape Verdean General Insurance-Penetration (%), 2013-2017

Figure 20: Cape Verdean General Insurance-Penetration (%), 2017-2022

Figure 21: Cape Verdean General Insurance-Loss Ratio (%), 2013-2017

Figure 22: Cape Verdean General Insurance-Loss Ratio (%), 2017-2022

Figure 23: Cape Verdean Property Insurance-Gross Written Premium (CVE Million), 2013-2022

Figure 24: Cape Verdean Property Insurance-Number of Active Policies (Thousand), 2013-2022

Figure 25: Cape Verdean Property Insurance-Penetration (%), 2013-2017

Figure 26: Cape Verdean Property Insurance-Penetration (%), 2017-2022

Figure 27: Cape Verdean Property Insurance-Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022

Figure 28: Cape Verdean Motor Insurance-Gross Written Premium (CVE Billion), 2013-2022

Figure 29: Cape Verdean Motor Insurance-Number of Active Policies (Thousand), 2013-2022

Figure 30: Cape Verdean Motor Insurance-Penetration (%), 2013-2017

Figure 31: Cape Verdean Motor Insurance-Penetration (%), 2017-2022

Figure 32: Cape Verdean Motor Insurance-Paid Claims (CVE Million), 2013-2022

Figure 33: Cape Verdean Motor Insurance-Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022

Figure 34: Cape Verdean Liability Insurance-Gross Written Premium (CVE Million), 2013-2022

Figure 35: Cape Verdean Liability Insurance-Number of Active Policies (Thousand), 2013-2022

Figure 36: Cape Verdean Liability Insurance-Penetration (%), 2013-2017

Figure 37: Cape Verdean Liability Insurance-Penetration (%), 2017-2022

Figure 38: Cape Verdean Liability Insurance-Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022

Figure 39: Cape Verdean Marine, Aviation and Transit Insurance-Gross Written Premium (CVE Million), 2013-2022

Figure 40: Cape Verdean Marine, Aviation and Transit Insurance-Number of Active Policies (Thousand), 2013-2022

Figure 41: Cape Verdean Marine, Aviation and Transit Insurance-Penetration (%), 2013-2017

Figure 42: Cape Verdean Marine, Aviation and Transit Insurance-Penetration (%), 2017-2022

Figure 43: Cape Verdean Marine, Aviation and Transit Insurance-Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022

Figure 44: Cape Verdean Personal Accident and Health Insurance-Gross Written Premium (CVE Million), 2013-2022

Figure 45: Cape Verdean Personal Accident and Health Insurance-Number of Active Policies (Thousand), 2013-2022

Figure 46: Cape Verdean Personal Accident and Health Insurance-Penetration (%), 2013-2017

Figure 47: Cape Verdean Personal Accident and Health Insurance-Penetration (%), 2017-2022

Figure 48: Cape Verdean Personal Accident and Health Insurance-Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022

Figure 49: Cape Verdean Miscellaneous-Gross Written Premium (CVE Million), 2013-2022

Figure 50: Cape Verdean Miscellaneous-Number of Active Policies (Thousand), 2013-2022

Figure 51: Cape Verdean Miscellaneous-Penetration (%), 2013-2017

Figure 52: Cape Verdean Miscellaneous-Penetration (%), 2017-2022

Figure 53: Cape Verdean Miscellaneous-Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022

Figure 54: Cape Verdean Reinsurance-Premium Ceded by Insurance Segment (CVE Million), 2013-2022

Figure 55: Cape Verdean Life Insurance-Percentage of Reinsurance Ceded (%), 2013-2022

Figure 56: Cape Verdean General Insurance-Percentage of Reinsurance Ceded (%), 2013-2022

Figure 57: Cape Verde-Insurance Supervision and Control at Various Levels

Figure 58: Cape Verde-Insurance Regulatory Frameworks for Company Registration and Operation


List Of Table

List of Tables

Table 1: Cape Verdean Insurance Industry-Key Facts, 2017

Table 2: Cape Verdean Insurance Industry-Leading Insurers, 2017

Table 3: Cape Verdean Government Credit Ratings

Table 4: Cape Verdean Insurance Industry-Gross Written Premium (CVE Billion and USD Million), 2013-2017

Table 5: Cape Verdean Insurance Industry-Gross Written Premium (CVE Billion and USD Million), 2017-2022

Table 6: Cape Verdean Insurance Industry-Density (CVE), 2013-2017

Table 7: Cape Verdean Insurance Industry-Density (CVE), 2017-2022

Table 8: Cape Verdean Insurance Industry-Number of Active Policies (Thousand), 2013-2017

Table 9: Cape Verdean Insurance Industry-Number of Active Policies (Thousand), 2017-2022

Table 10: Cape Verdean Insurance Industry-Paid Claims (CVE Million and USD Million), 2013-2017

Table 11: Cape Verdean Insurance Industry-Paid Claims (CVE Million and USD Million), 2017-2022

Table 12: Cape Verdean Life Insurance-Gross Written Premium (CVE Million and USD Million), 2013-2017

Table 13: Cape Verdean Life Insurance-Gross Written Premium (CVE Million and USD Million), 2017-2022

Table 14: Cape Verdean Life Insurance-Number of Active Policies (Thousand), 2013-2017

Table 15: Cape Verdean Life Insurance-Number of Active Policies (Thousand), 2017-2022

Table 16: Cape Verdean Life Insurance-Paid Claims (CVE Million and USD Million), 2013-2017

Table 17: Cape Verdean Life Insurance-Paid Claims (CVE Million and USD Million), 2017-2022

Table 18: Cape Verdean General Insurance-Gross Written Premium (CVE Billion and USD Million), 2013-2017

Table 19: Cape Verdean General Insurance-Gross Written Premium (CVE Billion and USD Million), 2017-2022

Table 20: Cape Verdean General Insurance-Number of Active Policies (Thousand), 2013-2017

Table 21: Cape Verdean General Insurance-Number of Active Policies (Thousand), 2017-2022

Table 22: Cape Verdean General Insurance-Paid Claims (CVE Million and USD Million), 2013-2017

Table 23: Cape Verdean General Insurance-Paid Claims (CVE Million and USD Million), 2017-2022

Table 24: Cape Verdean Property Insurance-Gross Written Premium (CVE Million and USD Million), 2013-2017

Table 25: Cape Verdean Property Insurance-Gross Written Premium (CVE Million and USD Million), 2017-2022

Table 26: Cape Verdean Property Insurance-Number of Active Policies (Thousand), 2013-2017

Table 27: Cape Verdean Property Insurance-Number of Active Policies (Thousand), 2017-2022

Table 28: Cape Verdean Property Insurance-Loss Ratio (%), 2013-2017

Table 29: Cape Verdean Property Insurance-Loss Ratio (%), 2017-2022

Table 30: Cape Verdean Motor Insurance-Gross Written Premium (CVE Billion and USD Million), 2013-2017

Table 31: Cape Verdean Motor Insurance-Gross Written Premium (CVE Billion and USD Million), 2017-2022

Table 32: Cape Verdean Motor Insurance-Number of Active Policies (Thousand), 2013-2017

Table 33: Cape Verdean Motor Insurance-Number of Active Policies (Thousand), 2017-2022

Table 34: Cape Verdean Motor Insurance-Paid Claims (CVE Million and USD Million), 2013-2017

Table 35: Cape Verdean Motor Insurance-Paid Claims (CVE Million and USD Million), 2017-2022

Table 36: Cape Verdean Motor Insurance-Loss Ratio (%), 2013-2017

Table 37: Cape Verdean Motor Insurance-Loss Ratio (%), 2017-2022

Table 38: Cape Verdean Liability Insurance-Gross Written Premium (CVE Million and USD Million), 2013-2017

Table 39: Cape Verdean Liability Insurance-Gross Written Premium (CVE Million and USD Million), 2017-2022

Table 40: Cape Verdean Liability Insurance-Number of Active Policies (Thousand), 2013-2017

Table 41: Cape Verdean Liability Insurance-Number of Active Policies (Thousand), 2017-2022

Table 42: Cape Verdean Liability Insurance-Loss Ratio (%), 2013-2017

Table 43: Cape Verdean Liability Insurance-Loss Ratio (%), 2017-2022

Table 44: Cape Verdean Marine, Aviation and Transit Insurance-Gross Written Premium (CVE Million and USD Million), 2013-2017

Table 45: Cape Verdean Marine, Aviation and Transit Insurance-Gross Written Premium (CVE Million and USD Million), 2017-2022

Table 46: Cape Verdean Marine, Aviation and Transit Insurance-Number of Active Policies (Thousand), 2013-2017

Table 47: Cape Verdean Marine, Aviation and Transit Insurance-Number of Active Policies (Thousand), 2017-2022

Table 48: Cape Verdean Marine, Aviation and Transit Insurance-Loss Ratio (%), 2013-2017

Table 49: Cape Verdean Marine, Aviation and Transit Insurance-Loss Ratio (%), 2017-2022

Table 50: Cape Verdean Personal Accident and Health Insurance-Gross Written Premium (CVE Million and USD Million), 2013-2017

Table 51: Cape Verdean Personal Accident and Health Insurance-Gross Written Premium (CVE Million and USD Million), 2017-2022

Table 52: Cape Verdean Personal Accident and Health Insurance-Number of Active Policies (Thousand), 2013-2017

Table 53: Cape Verdean Personal Accident and Health Insurance-Number of Active Policies (Thousand), 2017-2022

Table 54: Cape Verdean Personal Accident and Health Insurance-Loss Ratio (%), 2013-2017

Table 55: Cape Verdean Personal Accident and Health Insurance-Loss Ratio (%), 2017-2022

Table 56: Cape Verdean Miscellaneous-Gross Written Premium (CVE Million and USD Million), 2013-2017

Table 57: Cape Verdean Miscellaneous-Gross Written Premium (CVE Million and USD Million), 2017-2022

Table 58: Cape Verdean Miscellaneous-Number of Active Policies (Thousand), 2013-2017

Table 59: Cape Verdean Miscellaneous-Number of Active Policies (Thousand), 2017-2022

Table 60: Cape Verdean Miscellaneous-Loss Ratio (%), 2013-2017

Table 61: Cape Verdean Miscellaneous-Loss Ratio (%), 2017-2022

Table 62: Cape Verdean Reinsurance-Premium Ceded by Insurance Segment (CVE Million), 2013-2017

Table 63: Cape Verdean Reinsurance-Premium Ceded by Insurance Segment (CVE Million), 2017-2022

Table 64: Congolese Insurance Industry-Leading Insurers, 2017

Table 65: Garantia Seguros-Key Facts

Table 66: Impar Seguros-Key Facts

Table 67: Cape Verde-Insurance Regulatory Framework Key Features

Table 68: Cape Verde-Life Insurance Regulatory Framework

Table 69: Cape Verde-Property Insurance Regulatory Framework

Table 70: Cape Verde-Motor Insurance Regulatory Framework

Table 71: Cape Verde-Liability Insurance Regulatory Framework

Table 72: Cape Verde-Motor Vehicle Rating Tariffs

Table 73: Cape Verde-Percentage of Reversal of Motor Insurance Premium

Table 74: Cape Verde-Minimum Capital Requirements

Table 75: Cape Verde- Corporate Tax Rates for the Financial Year 2017

Table 76: Cape Verdean Life Insurance-Policies and Premium, 2013-2017

Table 77: Cape Verdean Life Insurance-Policies and Premium, 2017-2022

Table 78: Cape Verdean Life Insurance-Claims and Expenses, 2013-2017

Table 79: Cape Verdean Life Insurance-Claims and Expenses, 2017-2022

Table 80: Cape Verdean General Insurance-Policies and Premium, 2013-2017

Table 81: Cape Verdean General Insurance-Policies and Premium, 2017-2022

Table 82: Cape Verdean General Insurance-Claims and Expenses, 2013-2017

Table 83: Cape Verdean General Insurance-Claims and Expenses, 2017-2022

Table 84: Cape Verdean General Insurance-Property Insurance, 2013-2017

Table 85: Cape Verdean General Insurance-Property Insurance, 2017-2022

Table 86: Cape Verdean General Insurance-Motor Insurance, 2013-2017

Table 87: Cape Verdean General Insurance-Motor Insurance, 2017-2022

Table 88: Cape Verdean General Insurance-Liability Insurance, 2013-2017

Table 89: Cape Verdean General Insurance-Liability Insurance, 2017-2022

Table 90: Cape Verdean General Insurance-Marine, Aviation and Transit Insurance, 2013-2017

Table 91: Cape Verdean General Insurance-Marine, Aviation and Transit Insurance, 2017-2022

Table 92: Cape Verdean General Insurance-Personal Accident and Health Insurance, 2013-2017

Table 93: Cape Verdean General Insurance-Personal Accident and Health Insurance, 2017-2022

Table 94: Cape Verdean General Insurance-Miscellaneous, 2013-2017

Table 95: Cape Verdean General Insurance-Miscellaneous, 2017-2022

Table 96: Insurance Industry Definitions

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Products and Companies

Products

Cape Verdean insurance industry, Life insurance, General insurance, Property insurance, Motor insurance, Liability insurance, Marine insurance, Personal accident and health insurance, Travel insurance, Health insurance, Reinsurance


Companies

Garantia Seguros

Impar Seguros