The Insurance Industry in the Central African Republic Key Trends and Opportunities to 2020

The Insurance Industry in the Central African Republic Key Trends and Opportunities to 2020


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Executive Summary

Timetrics The Insurance Industry in the Central African Republic, Key Trends and Opportunities to 2020 report provides a detailed analysis of the Central African Republic insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011-2015) and forecast periods (2015-2020).

The report also gives a comprehensive overview of the Central African Republic economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes the impact of natural and man-made hazards on the insurance industry.

The report brings together Timetrics 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.

Summary

Timetrics The Insurance Industry in the Central African Republic, Key Trends and Opportunities to 2020 report provides in-depth market analysis, information and insights into the Central African Republic insurance industry, including:

An overview of the Central African Republic insurance industry

The Central African Republic insurance industrys growth prospects by segment and category

A comprehensive overview of the Central African Republic economy and demographics

The detailed competitive landscape in the Central African Republic insurance industry

Detailed regulatory policies of the Central African Republic insurance industry

Analysis of natural hazards in the Central African Republic insurance industry

Scope

This report provides a comprehensive analysis of the insurance industry in the Central African Republic:

It provides historical values for the Central African Republic insurance industry for the reports 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

It offers a detailed analysis of the key segments in the Central African Republic insurance industry, with market forecasts to 2020.

It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

It profiles the top insurance companies in the Central African Republic, and outlines the key regulations affecting them.

It covers the economy and demographics structure of the Central African Republic.

It analyzes the impact of natural and man-made hazards in the Central African Republic insurance industry.

Reasons To Buy

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

Understand the demand-side dynamics, key market trends and growth opportunities in the Central African Republic insurance industry.

Assess the competitive dynamics in the Central African Republic insurance industry.

Identify the growth opportunities and market dynamics in key segments.

Gain insights into key regulations governing the Central African Republic insurance industry and their impact on companies and the industrys future.

Key Highlights

The CAR insurance industry is small, with just two companies serving a population of 4.9 million as of 2015.

Momentum in the economy, an increase in life expectancy and developing insurance products to cater to the low-income rural population is expected to drive the segment over the forecast period.

In terms of frequency, floods accounted for 60.9% of all natural hazards in the country, followed by storms with 30.4% and wildfires with 8.7%.

As of 2014, the industry was led by Sunu Assurances, with a market share of 52.2% in terms of gross written premium.

The CAR economy largely depends on agriculture, forestry and mining, with 60.0% of the population living in rural areas.

According to the World Health Organization, CAR has some of the worst global health indicators. In 2013, for instance, the country had the third-highest maternal mortality and the sixth-highest child mortalities in the world.



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1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHICS

4 INDUSTRY OUTLOOK

4.1 Regional Comparison

4.2 Industry Indicators

4.2.1 Gross written premium

4.2.2 Claims

4.2.3 Investments

5 LIFE INSURANCE

5.1 Gross Written Premium

5.2 Penetration

6 NON-LIFE INSURANCE

6.1 Property Insurance

6.1.1 Penetration

6.1.2 Profitability

6.2 Motor Insurance

6.2.1 Penetration

6.2.2 Profitability

6.3 Liability Insurance

6.3.1 Penetration

6.3.2 Profitability

6.4 Marine, Aviation and Transit Insurance

6.4.1 Penetration

6.4.2 Profitability

7 PERSONAL ACCIDENT AND HEALTH INSURANCE

8 REINSURANCE

8.1 Premium Ceded

9 NATURAL AND MAN-MADE HAZARDS

9.1 Flooding

9.2 Man-Made Disasters

9.3 Exposure

10 COMPETITIVE LANDSCAPE

10.1 Company Profiles

10.1.1 Sunu Assurances-company overview

10.1.2 Allianz Centrafrique Assurances-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 Professional indemnity insurance for insurance intermediaries

11.4.3 Workers compensation

11.5 Supervision and Control

11.5.1 International Association of Insurance Supervisors

11.5.2 Commission Regional des Assurances (CRCA)

11.5.3 Direction des Services Centraux (DSC)

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 (ADR)

12 DATABOOK

12.1 Life Insurance

12.1.1 Policies and premium

12.1.2 Claims and expenses

12.1.3 Assets and investments

12.1.4 Group life insurance

12.1.5 Non-linked policies

12.2 Non-Life Insurance

12.2.1 Policies and premium

12.2.2 Claims and expenses

12.2.3 Assets and investments

12.2.4 Property insurance

12.2.5 Property insurance by product

12.2.6 Motor insurance

12.2.7 Motor insurance by product

12.2.8 Liability insurance

12.2.9 Marine, aviation and transit insurance

12.3 Personal Accident and Health Insurance

12.3.1 Policies and premium

12.3.2 Claims and expenses

12.3.3 Assets and investments

13 DEFINITIONS AND METHODOLOGY

13.1 Definitions

13.2 Methodology

14 ABOUT TIMETRIC

14.1 Contact Timetric

14.2 About Timetric

14.3 Timetrics Services

14.4 Disclaimer

Figure 1: The Central African Republic Real GDP (USD Billion), 2011-2020

Figure 2: The Central African Republic Consumer Price Inflation (%), 2011-2020

Figure 3: XAF-USD Exchange Rate, 2011-2020

Figure 4: The Central African Republic Population by Age Group, 1991-2025

Figure 5: The Central African Republic Life Insurance Penetration-Regional Comparison (%), 2015

Figure 6: The Central African Republic Non-Life Insurance Penetration-Regional Comparison (%), 2015

Figure 7: The Central African Republic Personal Accident and Health Insurance Penetration-Regional Comparison (%), 2015

Figure 8: The Central African Republic Insurance Segment Direct Written Premium Shares-Regional Comparison (%), 2015

Figure 9: The Central African Republic Insurance Industry-Gross Written Premium by Segment, 2011-2020

Figure 10: The Central African Republic Insurance Industry-Density (Direct Written Premium Per Capita) by Segment (XAF), 2011-2020

Figure 11: The Central African Republic Insurance Industry-Paid Claims by Segment (XAF Million), 2011-2020

Figure 12: The Central African Republic Insurance Industry-Total Investment Income by Segment (XAF Million), 2011-2020

Figure 13: The Central African Republic Insurance Industry-Non-Life Insurance Investment Portfolio (XAF Billion), 2011-2020

Figure 14: The Central African Republic Insurance Industry-Non-Life Insurance Investment Portfolio Dynamics by Category (XAF Billion), 2011-2020

Figure 15: The Central African Republic Insurance Industry-Personal Accident and Health Insurance Investment Portfolio (XAF Million), 2011-2020

Figure 16: The Central African Republic Insurance Industry-Personal Accident and Health Insurance Investment Portfolio Dynamics by Category (XAF Million), 2011-2020

Figure 17: The Central African Republic Life Insurance-Gross Written Premium (XAF Million), 2011-2020

Figure 18: The Central African Republic Life Insurance-Penetration (%), 2011-2015

Figure 19: The Central African Republic Life Insurance-Penetration (%), 2015-2020

Figure 20: The Central African Republic Non-life Insurance-Gross Written Premium (XAF Billion), 2011-2020

Figure 21: The Central African Republic Property Insurance-Penetration (%), 2011-2015

Figure 22: The Central African Republic Property Insurance-Penetration (%), 2015-2020

Figure 23: The Central African Republic Property Insurance-Earned Premium, Incurred Loss and Loss Ratio (XAF Million and %), 2011-2020

Figure 24: The Central African Republic Motor Insurance-Penetration (%), 2011-2015

Figure 25: The Central African Republic Motor Insurance-Penetration (%), 2015-2020

Figure 26: The Central African Republic Motor Insurance-Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2011-2020

Figure 27: The Central African Republic Liability Insurance-Penetration (%), 2011-2015

Figure 28: The Central African Republic Liability Insurance-Penetration (%), 2015-2020

Figure 29: The Central African Republic Liability Insurance-Earned Premium, Incurred Loss and Loss Ratio (XAF Million and %), 2011-2020

Figure 30: The Central African Republic Marine, Aviation and Transit Insurance-Penetration (%), 2011-2015

Figure 31: The Central African Republic Marine, Aviation and Transit Insurance-Penetration (%), 2015-2020

Figure 32: The Central African Republic Marine, Aviation and Transit Insurance-Earned Premium, Incurred Loss and Loss Ratio (XAF Million and %), 2011-2020

Figure 33: The Central African Republic Personal Accident and Health Insurance-Gross Written Premium (XAF Million), 2011-2020

Figure 34: The Central African Republic Reinsurance-Premium Ceded by Insurance Segment (XAF Million), 2011-2020

Figure 35: The Central African Republic Non-Life Insurance-Percentage of Reinsurance Ceded (%), 2011-2020

Figure 36: The Central African Republic Personal Accident and Health Insurance-Percentage of Reinsurance Ceded (%), 2011-2020

Figure 37: The Central African Republic-Frequency of Hazards by Type, 1990-2014

Figure 38: The Central African Republic Mortality by Hazards Type, 1990-2014

Figure 39: The Central African Republic Insurance Industry-Market Shares of Insurers (%), 2014

Figure 40: The Central African Republic-Insurance Supervision and Control at Various Levels

Figure 41: The Central African Republic-Insurance Regulatory Frameworks for Company Registration and Operation

Table 1: The Central African Republic Insurance Industry-Key Facts, 2015

Table 2: The Central African Republic Insurance Industry-Market Share of Leading Insurers, 2014

Table 3: The Central African Republic Insurance Industry-Gross Written Premium by Segment (XAF Billion), 2011-2015

Table 4: The Central African Republic Insurance Industry-Gross Written Premium by Segment (XAF Billion), 2015-2020

Table 5: The Central African Republic Insurance Industry-Density (Direct Written Premium Per Capita) by Segment (XAF), 2011-2015

Table 6: The Central African Republic Insurance Industry-Density (Direct Written Premium Per Capita) by Segment (XAF), 2015-2020

Table 7: The Central African Republic Insurance Industry-Paid Claims by Segment(XAF Billion), 2011-2015

Table 8: The Central African Republic Insurance Industry-Paid Claims by Segment(XAF Million), 2015-2020

Table 9: The Central African Republic Insurance Industry-Total Investment Income by Segment (XAF Million), 2011-2015

Table 10: The Central African Republic Insurance Industry-Total Investment Income by Segment (XAF Million), 2015-2020

Table 11: The Central African Republic Insurance Industry-Non-Life Insurance Investment Portfolio (XAF Billion), 2011-2015

Table 12: The Central African Republic Insurance Industry-Non-Life Insurance Investment Portfolio (XAF Billion), 2015-2020

Table 13: The Central African Republic Insurance Industry-Personal Accident and Health Insurance Investment Portfolio (XAF Million), 2011-2015

Table 14: The Central African Republic Insurance Industry-Personal Accident and Health Insurance Investment Portfolio (XAF Million), 2015-2020

Table 15: The Central African Republic Life Insurance-Gross Written Premium (XAF Million and USD Thousand), 2011-2015

Table 16: The Central African Republic Life Insurance-Gross Written Premium (XAF Million and USD Thousand), 2015-2020

Table 17: The Central African Republic Non-life Insurance-Gross Written Premium (XAF Billion and USD Thousand), 2011-2015

Table 18: The Central African Republic Non-life Insurance-Gross Written Premium (XAF Billion and USD Thousand), 2015-2020

Table 19: The Central African Republic Property Insurance-Loss Ratio (%), 2011-2015

Table 20: The Central African Republic Property Insurance-Loss Ratio (%), 2015-2020

Table 21: The Central African Republic Motor Insurance-Loss Ratio (%), 2011-2015

Table 22: The Central African Republic Motor Insurance-Loss Ratio (%), 2015-2020

Table 23: The Central African Republic Liability Insurance-Loss Ratio (%), 2011-2015

Table 24: The Central African Republic Liability Insurance-Loss Ratio (%), 2015-2020

Table 25: The Central African Republic Marine, Aviation and Transit Insurance-Loss Ratio (%), 2011-2015

Table 26: The Central African Republic Marine, Aviation and Transit Insurance-Loss Ratio (%), 2015-2020

Table 27: The Central African Republic Personal Accident and Health Insurance-Gross Written Premium (XAF Million and USD Million), 2011-2015

Table 28: The Central African Republic Personal Accident and Health Insurance-Gross Written Premium (XAF Million and USD Million), 2015-2020

Table 29: The Central African Republic Reinsurance-Premium Ceded by Insurance Segment (XAF Million), 2011-2015

Table 30: The Central African Republic Reinsurance-Premium Ceded by Insurance Segment (XAF Million), 2015-2020

Table 31: The Central African Republic Average Annual Loss by Hazard

Table 32: The Central African Republic Insurance Industry-Market Shares of Insurers (%), 2014

Table 33: Sunu Assurances-Key Facts

Table 34: Allianz Centrafrique Assurances-Key Facts

Table 35: The Central African Republic-Insurance Regulatory Framework Key Features

Table 36: The Central African Republic-Intermediary Remuneration Rates

Table 37: The Central African Republic-Life Insurance Regulatory Framework

Table 38: The Central African Republic-Property Insurance Regulatory Framework

Table 39: The Central African Republic-Motor Insurance Regulatory Framework

Table 40: The Central African Republic-Liability Insurance Regulatory Framework

Table 41: The Central African Republic-Insurance Premium Tax Rates

Table 42: The Central African Republic-Corporate Tax Rates for the Financial Year 2016

Table 43: The Central African Republic Life Insurance-Policies and Premium, 2011-2015

Table 44: The Central African Republic Life Insurance-Policies and Premium, 2015-2020

Table 45: The Central African Republic Life Insurance-Claims and Expenses, 2011-2015

Table 46: The Central African Republic Life Insurance-Claims and Expenses, 2015-2020

Table 47: The Central African Republic Life Insurance-Assets and Investments, 2011-2015

Table 48: The Central African Republic Life Insurance-Assets and Investments, 2015-2020

Table 49: The Central African Republic Life Insurance-Group Life Insurance, 2011-2015

Table 50: The Central African Republic Life Insurance-Group Life Insurance, 2015-2020

Table 51: The Central African Republic Life Insurance-Linked vs. Non-Linked Policies, 2011-2015

Table 52: The Central African Republic Life Insurance-Linked vs. Non-Linked Policies, 2015-2020

Table 53: The Central African Republic Non-Life Insurance-Policies and Premium, 2011-2015

Table 54: The Central African Republic Non-Life Insurance-Policies and Premium, 2015-2020

Table 55: The Central African Republic Non-Life Insurance-Claims and Expenses, 2011-2015

Table 56: The Central African Republic Non-Life Insurance-Claims and Expenses, 2015-2020

Table 57: The Central African Republic Non-Life Insurance-Assets and Investments, 2011-2015

Table 58: The Central African Republic Non-Life Insurance-Assets and Investments, 2015-2020

Table 59: The Central African Republic Non-Life Insurance-Property Insurance, 2011-2015

Table 60: The Central African Republic Non-Life Insurance-Property Insurance, 2015-2020

Table 61: The Central African Republic Non-Life Insurance-Property Insurance by Product, 2011-2015

Table 62: The Central African Republic Non-Life Insurance-Property Insurance by Product, 2015-2020

Table 63: The Central African Republic Non-Life Insurance-Motor Insurance, 2011-2015

Table 64: The Central African Republic Non-Life Insurance-Motor Insurance, 2015-2020

Table 65: The Central African Republic Non-Life Insurance-Motor Insurance by Product, 2011-2015

Table 66: The Central African Republic Non-Life Insurance-Motor Insurance by Product, 2015-2020

Table 67: The Central African Republic Non-Life Insurance-Liability Insurance, 2011-2015

Table 68: The Central African Republic Non-Life Insurance-Liability Insurance, 2015-2020

Table 69: The Central African Republic Non-Life Insurance-Marine, Aviation and Transit Insurance, 2011-2015

Table 70: The Central African Republic Non-Life Insurance-Marine, Aviation and Transit Insurance, 2015-2020

Table 71: The Central African Republic Personal Accident and Health Insurance-Policies and Premium, 2011-2015

Table 72: The Central African Republic Personal Accident and Health Insurance-Policies and Premium, 2015-2020

Table 73: The Central African Republic Personal Accident and Health Insurance-Claims and Expenses, 2011-2015

Table 74: The Central African Republic Personal Accident and Health Insurance-Claims and Expenses, 2015-2020

Table 75: The Central African Republic Personal Accident and Health Insurance-Assets and Investments, 2011-2015

Table 76: The Central African Republic Personal Accident and Health Insurance-Assets and Investments, 2015-2020

Table 77: Insurance Industry Definitions

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