The Insurance Industry in Malawi, Key Trends and Opportunities to 2022
Region:Africa
Product Code:GDIS1808MR
November 2018
114
About the Report
The Insurance Industry in Malawi, Key Trends and Opportunities to 2022
Summary
GlobalData's 'The Insurance Industry in Malawi, Key Trends and Opportunities to 2022' report provides detailed analysis of the market trends, drivers and challenges in the Malawian 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 Malawian 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.
This report provides in-depth market analysis, information and insights into the Malawian insurance industry, including -
- The Malawian insurance industry's growth prospects by segment and category
- A comprehensive overview of the Malawian economy and demographics
- Details of the competitive landscape in the Malawian insurance industry
- The various distribution channels in the Malawian insurance industry
- Details of regulatory policy applicable to the Malawian insurance industry
- Analysis of natural hazards in the Malawian insurance industry
Key Highlights
- On October 11, 2017, the Government of Malawi issued the Insurance Directive 2017, which stipulates the classes of insurance to be operated in the country.
- On October 11, 2017, the Reserve Bank of Malawi (RBM) introduced three directives regarding an increase in minimum solvency requirements for life insurance, general insurance and reinsurance companies operating in the country.
- On October 3, 2017, the Government of Malawi issued Financial Services (Insurance Supervisory Levy) Regulations 2017. This comprises a minimum and maximum supervisory levy on insurers and insurance intermediaries.
Scope
- This report provides a comprehensive analysis of the insurance industry in Malawi.
- It provides historical values for the Malawian 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 Malawian 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 Malawi.
- It profiles the top insurance companies in Malawi, 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 Malawian insurance industry and each segment and category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Malawian insurance industry.
- Assess the competitive dynamics in the Malawian insurance industry.
- Identify the growth opportunities and market dynamics in key segments.
- Gain insights into key regulations governing the Malawian insurance industry and their impact on companies and the industry's future.
Scope of the Report
Products
Companies
Nico General Insurance Company Ltd
Nico Life Insurance Company Ltd
Old Mutual Life Assurance Company Ltd
United General Insurance Company Ltd
Prime Insurance Company Ltd
Charter Insurance Company Ltd
Reunion Insurance Company Ltd
Britam Insurance Company Malawi Ltd
Vanguard Life Assurance Company Ltd
Smile Life Insurance Company Ltd
Table of Contents
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 Penetration
5.1.4 Assets and investments
5.2 Individual Life Insurance
5.2.1 Active policies
6 General Insurance Outlook
6.1 Segment Indicators
6.1.1 Gross written premium
6.1.2 Paid claims
6.1.3 Penetration
6.1.4 Loss ratio
6.1.5 Assets and investments
6.2 Property Insurance
6.2.1 Gross written premium
6.2.2 Penetration
6.2.3 Profitability
6.3 Motor Insurance
6.3.1 Gross written premium
6.3.2 Penetration
6.3.3 Profitability
6.4 Personal Accident and Health Insurance
6.4.1 Gross written premium
6.4.2 Penetration
6.4.3 Profitability
6.5 Miscellaneous
6.5.1 Gross written premium
6.5.2 Penetration
6.5.3 Profitability
7 Reinsurance Outlook
7.1 Premium Ceded
8 Distribution Channel Outlook
9 Natural and Man-Made Hazards
9.1 Flooding
9.2 Earthquakes
9.3 Droughts
9.4 Exposure
10 Competitive Landscape
10.1 Company Profiles
10.1.1 Nico General Insurance Company Ltd - company overview
10.1.2 Nico Life Insurance Company Ltd - company overview
10.1.3 Old Mutual Life Assurance Company Ltd - company overview
10.1.4 United General Insurance Company Ltd - company overview
10.1.5 Prime Insurance Company Ltd - 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 Fidelity guarantee and professional indemnity insurance 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 Reserve Bank of Malawi
11.5.4 Insurance Association of Malawi
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 Assets and investments
12.1.3 Individual life insurance
12.1.4 Group life insurance
12.2 General 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 category
12.2.6 Motor insurance
12.2.7 Personal accident and health insurance
12.2.8 Personal accident and health insurance by category
12.2.9 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
Research Methodology
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