The Insurance Industry in Zambia, Key Trends and Opportunities to 2020

The Insurance Industry in Zambia, Key Trends and Opportunities to 2020


  • Products Id :- IS1316MR
  • |
  • Pages: 109
  • |
  • |
  • |
  Request for Sample Report
  Request A Quote

Executive Summary

Timetric's 'The Insurance Industry in Zambia, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Zambian 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 Zambian economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes analysis of the impact of natural hazards on the insurance industry.

The report brings together Timetric'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.

Summary

Timetric's 'The Insurance Industry in Zambia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Zambian insurance industry, including:

An overview of the Zambian insurance industry

The Zambian insurance industry's growth prospects by segment and category

A comprehensive overview of the Zambian economy and demographics

The detailed competitive landscape in the Zambian insurance industry

Details of regulatory policy applicable to the Zambian insurance industry

An analysis of natural hazards in the Zambian insurance industry

Scope

This report provides a comprehensive analysis of the insurance industry in Zambia:

It provides historical values for the Zambian insurance industry for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

It offers a detailed analysis of the key segments in the Zambian 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 Zambia, and highlights recent developments.

It covers the economy and demographic structure of Zambia.

It analyzes the impact of natural hazards in the Zambian insurance industry.

Reasons To Buy

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

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

Assess the competitive dynamics in the Zambian insurance industry.

Identify growth opportunities and market dynamics in key segments.

Gain insights into key regulations governing the Zambian insurance industry, and their impact on companies and the industry's future.

Key Highlights

In 2015, taxes for open-cast mines rose to 20% from 6% and taxes for underground mines rose to 8% from 6%.

In August 2015, the government declared that 90% of the population is uninsured, and insurance contributed only 1.4% towards GDP.

The life segment accounted for 34.2% of the industry's gross written premium.

Motor third-party liability, aviation liability and social insurance are mandatory in the country.



Read More



Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications

+91-9015378249

1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHY

4 INDUSTRY OUTLOOK

4.1 Regional Comparison

4.2 Industry Indicators

4.2.1 Gross written premium

4.2.2 Claims

4.2.3 Assets and investments

5 LIFE INSURANCE OUTLOOK

5.1 Individual Life Insurance

5.1.1 Gross written premium

6 NON-LIFE INSURANCE OUTLOOK

6.1 Property Insurance

6.1.1 Gross written premium

6.2 Motor Insurance

6.2.1 Gross written premium

6.3 Liability Insurance

6.3.1 Gross written premium

6.4 Marine, Aviation and Transit Insurance

6.4.1 Gross written premium

7 PERSONAL ACCIDENT AND HEALTH INSURANCE OUTLOOK

7.1 Personal Accident Insurance

7.1.1 Gross written premium

7.1.2 Claims

7.1.3 Profitability

8 REINSURANCE OUTLOOK

8.1 Premium Ceded

9 DISTRIBUTION CHANNEL OUTLOOK

10 NATURAL HAZARDS

10.1 Flooding

10.2 Droughts

10.3 Earthquakes

10.4 Epidemic

10.5 Exposure

11 COMPETITIVE LANDSCAPE

11.1 Company Profiles

11.1.1 African Life Assurance Company Ltd-company overview

11.1.2 Madison Life Insurance Company Zambia Ltd-company overview

11.1.3 Professional Insurance Corporation Zambia Plc-company overview

11.1.4 ZSIC General Insurance Ltd-company overview

11.1.5 Madison General Insurance Company Zambia Ltd-company overview

12 GOVERNANCE, RISK AND COMPLIANCE

12.1 Legislation Overview and Historical Evolution

12.2 Latest Changes in Regulation

12.3 Legislation and Market Practice by Type of Insurance

12.3.1 Life Insurance

12.3.2 Property Insurance

12.3.3 Motor Insurance

12.3.4 Liability insurance

12.3.5 Marine, aviation and transit insurance

12.3.6 Personal accident and health insurance

12.4 Compulsory Insurance

12.4.1 Motor third party liability insurance

12.4.2 Aviation liability insurance

12.4.3 Social insurance system

12.5 Supervision and Control

12.5.1 International Association of Insurance Supervisors (IAIS)

12.5.2 African Insurance Organization (AIO)

12.5.3 Pension and Insurance Authority

12.5.4 Insurance Association of Zambia (IAZ)

12.6 Non-Admitted Insurance Regulation

12.6.1 Overview

12.6.2 Intermediaries

12.6.3 Market practices

12.6.4 Fines and Penalties

12.7 Company Registration and Operations

12.7.1 Type of insurance organization

12.7.2 Establishing a local company

12.7.3 Foreign ownership

12.7.4 Types of license

12.7.5 Capital requirements

12.7.6 Solvency margin

12.7.7 Reserve requirements

12.7.8 Investment regulations

12.7.9 Statutory return requirements

12.7.10 Fee structure

12.8 Taxation

12.8.1 Insurance premium or policy taxation

12.8.2 Withholding taxes on premium paid overseas

12.8.3 Corporate tax

12.8.4 VAT

12.8.5 Captives

12.9 Legal System

12.9.1 Introduction

12.9.2 Access to court

12.9.3 Alternative dispute resolution (ADR)

13 DATABOOK

13.1 Life Insurance

13.1.1 Policies and premium

13.1.2 Claims and expenses

13.1.3 Assets and investments

13.1.4 Individual life insurance

13.1.5 Individual life insurance by product

13.2 Non-Life Insurance

13.2.1 Policies and premium

13.2.2 Claims and expenses

13.2.3 Assets and investments

13.2.4 Property insurance

13.2.5 Property insurance by product

13.2.6 Motor insurance

13.2.7 Liability insurance

13.2.8 Marine, aviation and transit insurance

13.3 Personal Accident and Health Insurance

13.3.1 Policies and premium

13.3.2 Claims and expenses

13.3.3 Assets and investments

14 DEFINITIONS AND METHODOLOGY

14.1 Definitions

14.2 Methodology

15 ABOUT TIMETRIC

15.1 Contact Timetric

15.2 About Timetric

15.3 Timetric's Services

15.4 Disclaimer

Figure 1: Zambian Real GDP (ZMW Billion), 2011-2020

Figure 2: Zambian Consumer Price Inflation (%), 2011-2020

Figure 3: Zambian Current Account Balance as Percentage of GDP (%), 2011-2015

Figure 4: Zambian (ZMW/US$) Exchange Rate, 2011-2020

Figure 5: Zambian Unemployment Rate (%), 2011-2020

Figure 6: Zambian Population by Age Group (Million), 1990-2025

Figure 7: Zambian Life Insurance Penetration-Regional Comparison (%), 2015

Figure 8: Zambian Non-Life Insurance Penetration-Regional Comparison (%), 2015

Figure 9: Zambian Personal Accident and Health Insurance Penetration-Regional Comparison (%), 2015

Figure 10: Zambian Insurance Segment Direct Written Premium Shares-Regional Comparison (%), 2015

Figure 11: Zambian Insurance Industry-Gross Written Premium (ZMW) by Segment, 2011-2020

Figure 12: Zambian Insurance Industry-Paid Claims by Segment (ZMW), 2011-2020

Figure 13: Zambian Insurance Industry-Total Assets by Segment (ZMW Million), 2011-2020

Figure 14: Zambian Insurance Industry-Total Investment Income by Segment (ZMW), 2011-2020

Figure 15: Zambian Insurance Industry-Life Insurance Investment Portfolio (ZMW), 2011-2020

Figure 16: Zambian Insurance Industry-Life Insurance Investment Portfolio Dynamics by Category (ZMW), 2011-2020

Figure 17: Zambian Individual Life Insurance-Gross Written Premium (ZMW), 2011-2020

Figure 18: Zambian Property Insurance-Gross Written Premium (ZMW), 2011-2020

Figure 19: Zambian Motor Insurance-Gross Written Premium (ZMW), 2011-2020

Figure 20: Zambian Liability Insurance-Gross Written Premium (ZMW), 2011-2020

Figure 21: Zambian Marine, Aviation and Transit Insurance-Gross Written Premium (ZMW), 2011-2020

Figure 22: Zambian Personal Accident Insurance-Gross Written Premium (ZMW), 2011-2020

Figure 23: Zambian Personal Accident Insurance-Paid Claims (ZMW), 2011-2020

Figure 24: Zambian Personal Accident Insurance-Earned Premium, Incurred Loss and Loss Ratio (ZMW and %), 2011-2020

Figure 25: Zambian Reinsurance-Premium Ceded by Insurance Segment (ZMW), 2011-2020

Figure 26: Zambian Life Insurance-Percentage of Reinsurance Ceded (%), 2011-2020

Figure 27: Zambian Non-Life Insurance-Percentage of Reinsurance Ceded (%), 2011-2020

Figure 28: Zambian Personal Accident and Health Insurance-Percentage of Reinsurance Ceded (%), 2011-2020

Figure 29: Zambian-Frequency of Hazards by Type (%), 1990-2014

Figure 30: Zambian Mortality by Hazards Type (%), 1990-2014

Figure 31: Zambian Insurance Industry-Segment Shares (%) of Leading Life Insurers, 2014

Figure 32: Zambian Insurance Industry-Segment Shares (%) of Leading Non-Life Insurers, 2014

Figure 33: Zambia-Insurance Supervision and Control at Various Levels

Figure 34: Zambia-Insurance Regulatory Frameworks for Company Registration and Operation

Table 1: Zambian Insurance Industry-Key Facts, 2015

Table 2: Zambian Insurance Industry-Segment Shares of the Top Insurers, 2014

Table 3: Zambian Government Credit Ratings

Table 4: Zambian Insurance Industry-Gross Written Premium by Segment (ZMW), 2011-2015

Table 5: Zambian Insurance Industry-Gross Written Premium by Segment (ZMW), 2015-2020

Table 6: Zambian Insurance Industry-Paid Claims by Segment (ZMW), 2011-2015

Table 7: Zambian Insurance Industry-Paid Claims by Segment (ZMW), 2015-2020

Table 8: Zambian Insurance Industry-Total Assets by Segment (ZMW), 2011-2015

Table 9: Zambian Insurance Industry-Total Assets by Segment (ZMW), 2015-2020

Table 10: Zambian Insurance Industry-Total Investment Income by Segment (ZMW), 2011-2015

Table 11: Zambian Insurance Industry-Total Investment Income by Segment (ZMW), 2015-2020

Table 12: Zambian Insurance Industry-Life Insurance Investment Portfolio (ZMW Million), 2011-2015

Table 13: Zambian Insurance Industry-Life Insurance Investment Portfolio (ZMW), 2015-2020

Table 14: Zambian Individual Life Insurance-Gross Written Premium (ZMW and US$), 2011-2015

Table 15: Zambian Individual Life Insurance-Gross Written Premium (ZMW and US$), 2015-2020

Table 16: Zambian Property Insurance-Gross Written Premium (ZMW and US$), 2011-2015

Table 17: Zambian Property Insurance-Gross Written Premium (ZMW Million and US$ Million), 2015-2020

Table 18: Zambian Motor Insurance-Gross Written Premium (ZMW and US$), 2011-2015

Table 19: Zambian Motor Insurance-Gross Written Premium (ZMW and US$), 2015-2020

Table 20: Zambian Liability Insurance-Gross Written Premium (ZMW and US$), 2011-2015

Table 21: Zambian Liability Insurance-Gross Written Premium (ZMW and US$), 2015-2020

Table 22: Zambian Marine, Aviation and Transit Insurance-Gross Written Premium (ZMW and US$), 2011-2015

Table 23: Zambian Marine, Aviation and Transit Insurance-Gross Written Premium (ZMW and US$), 2015-2020

Table 24: Zambian Personal Accident Insurance-Gross Written Premium (ZMW and US$), 2011-2015

Table 25: Zambian Personal Accident Insurance-Gross Written Premium (ZMW and US$), 2015-2020

Table 26: Zambian Personal Accident Insurance-Paid Claims (ZMW and US$), 2011-2015

Table 27: Zambian Personal Accident Insurance-Paid Claims (ZMW and US$), 2015-2020

Table 28: Zambian Personal Accident Insurance-Loss Ratio (%),2011-2015

Table 29: Zambian Personal Accident Insurance-Loss Ratio (%), 2015-2020

Table 30: Zambian Reinsurance-Premium Ceded by Insurance Segment (ZMW), 2011-2015

Table 31: Zambian Reinsurance-Premium Ceded by Insurance Segment (ZMW), 2015-2020

Table 32: Zambian Insurance Industry-Segment Shares (%) of Leading Life Insurers, 2014

Table 33: Zambian Insurance Industry-Segment Shares (%) of Leading Non-Life Insurers, 2014

Table 34: African Life Assurance Company Ltd-Key Facts

Table 35: Madison Life Insurance Company Zambia Ltd-Key Facts

Table 36: Professional Insurance Corporation Zambia Plc-Key Facts

Table 37: ZSIC General Insurance Ltd-Key Facts

Table 38: Madison General Insurance Company Zambia Ltd-Key Facts

Table 39: Zambia-Insurance Regulatory Framework Key Features

Table 40: Zambia-Life Insurance Regulatory Framework

Table 41: Zambia-Property Insurance Regulatory Framework

Table 42: Zambia-Motor Insurance Regulatory Framework

Table 43: Zambia-Liability Insurance Regulatory Framework

Table 44: Zambia-Corporate Tax Rates for the Financial Year 2016

Table 39: Zambian Life Insurance-Policies and Premium (ZMW), 2011-2015

Table 40: Zambian Life Insurance-Policies and Premium (ZMW), 2015-2020

Table 41: Zambian Life Insurance-Claims and Expenses (ZMW), 2011-2015

Table 42: Zambian Life Insurance-Claims and Expenses (ZMW), 2015-2020

Table 43: Zambian Life Insurance-Assets and Investments (ZMW), 2011-2015

Table 44: Zambian Life Insurance-Assets and Investments (ZMW Million), 2015-2020

Table 45: Zambian Life Insurance-Individual Life Insurance (ZMW), 2011-2015

Table 46: Zambian Life Insurance-Individual Life Insurance (ZMW), 2015-2020

Table 47: Zambian Life Insurance-Individual Life Insurance by Product (ZMW), 2011-2015

Table 48: Zambian Life Insurance-Individual Life Insurance by Product (ZMW), 2015-2020

Table 49: Zambian Non-Life Insurance-Policies and Premium (ZMW), 2011-2015

Table 50: Zambian Non-Life Insurance-Policies and Premium (ZMW), 2015-2020

Table 51: Zambian Non-Life Insurance-Claims and Expenses (ZMW and %), 2011-2015

Table 52: Zambian Non-Life Insurance-Claims and Expenses (ZMW and %), 2015-2020

Table 53: Zambian Non-Life Insurance-Assets and Investments (ZMW), 2011-2015

Table 54: Zambian Non-Life Insurance-Assets and Investments (ZMW), 2015-2020

Table 55: Zambian Non-Life Insurance-Property Insurance (ZMW and %), 2011-2015

Table 56: Zambian Non-Life Insurance-Property Insurance (ZMW and %), 2015-2020

Table 57: Zambian Non-Life Insurance-Property Insurance by Product (ZMW), 2011-2015

Table 58: Zambian Non-Life Insurance-Property Insurance by Product (ZMW), 2015-2020

Table 59: Zambian Non-Life Insurance-Motor Insurance (ZMW and %), 2011-2015

Table 60: Zambian Non-Life Insurance-Motor Insurance (ZMW and %), 2015-2020

Table 61: Zambian Non-Life Insurance-Liability Insurance (ZMW and %), 2011-2015

Table 62: Zambian Non-Life Insurance-Liability Insurance (ZMW and %), 2015-2020

Table 63: Zambian Non-Life Insurance-Marine, Aviation and Transit Insurance (ZMW and %), 2011-2015

Table 64: Zambian Non-Life Insurance-Marine, Aviation and Transit Insurance (ZMW and %), 2015-2020

Table 65: Zambian Personal Accident and Health Insurance-Policies and Premium (ZMW), 2011-2015

Table 66: Zambian Personal Accident and Health Insurance-Policies and Premium (ZMW), 2015-2020

Table 67: Zambian Personal Accident and Health Insurance-Claims and Expenses (ZMW and %), 2011-2015

Table 68: Zambian Personal Accident and Health Insurance-Claims and Expenses (ZMW and %), 2015-2020

Table 69: Zambian Personal Accident and Health Insurance-Assets and Investments (ZMW), 2011-2015

Table 70: Zambian Personal Accident and Health Insurance-Assets and Investments (ZMW), 2015-2020

Table 71: Insurance Industry Definitions

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to query [@] kenresearch.com
 

African Life Assurance Company Ltd, Madison Life Insurance Company Zambia Ltd, Professional Insurance Corporation Zambia Ltd, ZSIC General Insurance Ltd, Madison General Insurance Company (Z) Ltd, , , , ,

Zambian insurance industry, Life insurance, Non-life insurance, Property insurance, Motor insurance, Liability insurance, Marine insurance, Personal accident and health insurance, Personal accident insurance, Health insurance, Reinsurance

select a license

Single User License
USD 1450 INR 93177
Site License
USD 2900 INR 186354
Corporate User License
USD 4350 INR 279531

NEWSLETTER BY CATEGORY




Testimonials

The report sent to us was on the point, and its information was quite extensive, well structured, and well researched. More importantly what we valued was your response time and professionalism. As a leading global consulting firm, our clients expect high quality deliverables in short periods of time, so a reliable research partner is essential. For the price that you have charged the quality of your services were exceptional. We look forward to continue our relationship with your team on future engagements....

This is with regards to your report on India PVC pipes and fitting market outlook industry outlook to 2019. This is a very well written report and accept my compliments on the same.... ...

I am pleased to see the very useful and productive information in the report..Very well structured great presentation reflect professionalism in your research studies....

While we still are studying and analysing your reports about Vietnam & Thailand, we would like to convey to your research team that they have done a very good job in compiling so much of information together. We hope to see more of such well researched reports. All the best & keep it up. ...

We would like to appreciate Ken Research for their great efforts and wonderful support in providing the Market Intelligence Report for ITPC. The information, statistics and research are well understandable and very clear to the point. We are happy with Ken research for their good client service, on-time delivery of the report and as said the report itself. Thank you Ken research for bringing the valuable output for us. We would be looking forward to have more research with you in the near future. Wish you a success in your business!...



Ken Research Pvt. Ltd. Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49
     Gurgaon, Haryana - 122001, India

download

Company Brochure

Engage with Us

query [@] kenresearch.com