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Insurance in Nigeria

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  • Details
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  • Products and Companies

Details

Insurance in Nigeria

 

Summary

 

Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Essential resource for top-line data and analysis covering the Nigeria insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

 

Key Highlights

 

- The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.

- The Nigerian insurance market had total gross written premiums of USD 0.9bn in 2017, representing a compound annual growth rate (CAGR) of 3.3% between 2013 and 2017.

- The non-life segment was the market's most lucrative in 2017, with total gross written premiums of USD 0.6bn, equivalent to 69.6% of the market's overall value.

- The growth of the market decelerated since 2015 when the Nigerian economy entered recession. Demand for motor and property insurance, which are the pillars of this extremely low-penetrated market, slowed down amid increasing dispensability of these products in a recessive economic environment.

 

Scope

 

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Nigeria

- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Nigeria

- Leading company profiles reveal details of key insurance market players' global operations and financial performance

- Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria insurance market with five year forecasts

 

Reasons to buy

 

- What was the size of the Nigeria insurance market by value in 2017?

- What will be the size of the Nigeria insurance market in 2022?

- What factors are affecting the strength of competition in the Nigeria insurance market?

- How has the market performed over the last five years?

- Who are the top competitiors in Nigeria's insurance market?

READ MORE

Table Of Content

Scope

Table of Contents

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market share 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 9

Market value 9

Market Segmentation 10

Category segmentation 10

Geography segmentation 11

Market share 12

Market Outlook 13

Market value forecast 13

Five Forces Analysis 14

Summary 14

Buyer power 15

Supplier power 17

New entrants 19

Threat of substitutes 21

Degree of rivalry 22

Leading Companies 24

Aiico Insurance PLC 24

AXA Mansard Insurance plc 27

Custodian & Allied Plc 31

Leadway Assurance Company Ltd 34

Macroeconomic Indicators 37

Country data 37

Methodology 39

Industry associations 40

Related MarketLine research 40

Appendix 41

About MarketLine 41


List Of Figure

List of Tables

Table 1: Nigeria insurance market value: USD billion, 2013-17

Table 2: Nigeria insurance market category segmentation: USD billion, 2017

Table 3: Nigeria insurance market geography segmentation: USD billion, 2017

Table 4: Nigeria insurance market share: % share, by value, 2017

Table 5: Nigeria insurance market value forecast: USD billion, 2017-22

Table 6: Aiico Insurance PLC: key facts

Table 7: Aiico Insurance PLC: key financials (USD )

Table 8: Aiico Insurance PLC: key financials (NGN)

Table 9: Aiico Insurance PLC: key financial ratios

Table 10: AXA Mansard Insurance plc: key facts

Table 11: AXA Mansard Insurance plc: key financials (USD )

Table 12: AXA Mansard Insurance plc: key financials (NGN)

Table 13: AXA Mansard Insurance plc: key financial ratios

Table 14: Custodian & Allied Plc: key facts

Table 15: Custodian & Allied Plc: key financials (USD )

Table 16: Custodian & Allied Plc: key financials (NGN)

Table 17: Custodian & Allied Plc: key financial ratios

Table 18: Leadway Assurance Company Ltd: key facts

Table 19: Leadway Assurance Company Ltd: key financials (USD )

Table 20: Leadway Assurance Company Ltd: key financials (NGN)

Table 21: Leadway Assurance Company Ltd: key financial ratios

Table 22: Nigeria size of population (million), 2013-17

Table 23: Nigeria gdp (constant 2005 prices, USD billion), 2013-17

Table 24: Nigeria gdp (current prices, USD billion), 2013-17

Table 25: Nigeria inflation, 2013-17

Table 26: Nigeria consumer price index (absolute), 2013-17

Table 27: Nigeria exchange rate, 2013-17


List Of Table

List of Figures

Figure 1: Nigeria insurance market value: USD billion, 2013-17

Figure 2: Nigeria insurance market category segmentation: % share, by value, 2017

Figure 3: Nigeria insurance market geography segmentation: % share, by value, 2017

Figure 4: Nigeria insurance market share: % share, by value, 2017

Figure 5: Nigeria insurance market value forecast: USD billion, 2017-22

Figure 6: Forces driving competition in the insurance market in Nigeria, 2017

Figure 7: Drivers of buyer power in the insurance market in Nigeria, 2017

Figure 8: Drivers of supplier power in the insurance market in Nigeria, 2017

Figure 9: Factors influencing the likelihood of new entrants in the insurance market in Nigeria, 2017

Figure 10: Factors influencing the threat of substitutes in the insurance market in Nigeria, 2017

Figure 11: Drivers of degree of rivalry in the insurance market in Nigeria, 2017

Figure 12: Aiico Insurance PLC: revenues & profitability

Figure 13: Aiico Insurance PLC: assets & liabilities

Figure 14: AXA Mansard Insurance plc: revenues & profitability

Figure 15: AXA Mansard Insurance plc: assets & liabilities

Figure 16: Custodian & Allied Plc: revenues & profitability

Figure 17: Custodian & Allied Plc: assets & liabilities

Figure 18: Leadway Assurance Company Ltd: revenues & profitability

Figure 19: Leadway Assurance Company Ltd: assets & liabilities

Licence Rights

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

Section Purchase

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

Products and Companies

Products

Financial Services, Insurance, MarketLine, Nigeria


Companies

Aiico Insurance PLC

AXA Mansard Insurance plc

Custodian & Allied Plc

Leadway Assurance Company Ltd

Insurance in Nigeria

 

Summary

 

Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Essential resource for top-line data and analysis covering the Nigeria insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

 

Key Highlights

 

- The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.

- The Nigerian insurance market had total gross written premiums of USD 0.9bn in 2017, representing a compound annual growth rate (CAGR) of 3.3% between 2013 and 2017.

- The non-life segment was the market's most lucrative in 2017, with total gross written premiums of USD 0.6bn, equivalent to 69.6% of the market's overall value.

- The growth of the market decelerated since 2015 when the Nigerian economy entered recession. Demand for motor and property insurance, which are the pillars of this extremely low-penetrated market, slowed down amid increasing dispensability of these products in a recessive economic environment.

 

Scope

 

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Nigeria

- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Nigeria

- Leading company profiles reveal details of key insurance market players' global operations and financial performance

- Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria insurance market with five year forecasts

 

Reasons to buy

 

- What was the size of the Nigeria insurance market by value in 2017?

- What will be the size of the Nigeria insurance market in 2022?

- What factors are affecting the strength of competition in the Nigeria insurance market?

- How has the market performed over the last five years?

- Who are the top competitiors in Nigeria's insurance market?

READ MORE

Scope

Table of Contents

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market share 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 9

Market value 9

Market Segmentation 10

Category segmentation 10

Geography segmentation 11

Market share 12

Market Outlook 13

Market value forecast 13

Five Forces Analysis 14

Summary 14

Buyer power 15

Supplier power 17

New entrants 19

Threat of substitutes 21

Degree of rivalry 22

Leading Companies 24

Aiico Insurance PLC 24

AXA Mansard Insurance plc 27

Custodian & Allied Plc 31

Leadway Assurance Company Ltd 34

Macroeconomic Indicators 37

Country data 37

Methodology 39

Industry associations 40

Related MarketLine research 40

Appendix 41

About MarketLine 41


List Of Figure

List of Tables

Table 1: Nigeria insurance market value: USD billion, 2013-17

Table 2: Nigeria insurance market category segmentation: USD billion, 2017

Table 3: Nigeria insurance market geography segmentation: USD billion, 2017

Table 4: Nigeria insurance market share: % share, by value, 2017

Table 5: Nigeria insurance market value forecast: USD billion, 2017-22

Table 6: Aiico Insurance PLC: key facts

Table 7: Aiico Insurance PLC: key financials (USD )

Table 8: Aiico Insurance PLC: key financials (NGN)

Table 9: Aiico Insurance PLC: key financial ratios

Table 10: AXA Mansard Insurance plc: key facts

Table 11: AXA Mansard Insurance plc: key financials (USD )

Table 12: AXA Mansard Insurance plc: key financials (NGN)

Table 13: AXA Mansard Insurance plc: key financial ratios

Table 14: Custodian & Allied Plc: key facts

Table 15: Custodian & Allied Plc: key financials (USD )

Table 16: Custodian & Allied Plc: key financials (NGN)

Table 17: Custodian & Allied Plc: key financial ratios

Table 18: Leadway Assurance Company Ltd: key facts

Table 19: Leadway Assurance Company Ltd: key financials (USD )

Table 20: Leadway Assurance Company Ltd: key financials (NGN)

Table 21: Leadway Assurance Company Ltd: key financial ratios

Table 22: Nigeria size of population (million), 2013-17

Table 23: Nigeria gdp (constant 2005 prices, USD billion), 2013-17

Table 24: Nigeria gdp (current prices, USD billion), 2013-17

Table 25: Nigeria inflation, 2013-17

Table 26: Nigeria consumer price index (absolute), 2013-17

Table 27: Nigeria exchange rate, 2013-17


List Of Table

List of Figures

Figure 1: Nigeria insurance market value: USD billion, 2013-17

Figure 2: Nigeria insurance market category segmentation: % share, by value, 2017

Figure 3: Nigeria insurance market geography segmentation: % share, by value, 2017

Figure 4: Nigeria insurance market share: % share, by value, 2017

Figure 5: Nigeria insurance market value forecast: USD billion, 2017-22

Figure 6: Forces driving competition in the insurance market in Nigeria, 2017

Figure 7: Drivers of buyer power in the insurance market in Nigeria, 2017

Figure 8: Drivers of supplier power in the insurance market in Nigeria, 2017

Figure 9: Factors influencing the likelihood of new entrants in the insurance market in Nigeria, 2017

Figure 10: Factors influencing the threat of substitutes in the insurance market in Nigeria, 2017

Figure 11: Drivers of degree of rivalry in the insurance market in Nigeria, 2017

Figure 12: Aiico Insurance PLC: revenues & profitability

Figure 13: Aiico Insurance PLC: assets & liabilities

Figure 14: AXA Mansard Insurance plc: revenues & profitability

Figure 15: AXA Mansard Insurance plc: assets & liabilities

Figure 16: Custodian & Allied Plc: revenues & profitability

Figure 17: Custodian & Allied Plc: assets & liabilities

Figure 18: Leadway Assurance Company Ltd: revenues & profitability

Figure 19: Leadway Assurance Company Ltd: assets & liabilities

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 support@kenresearch.com

Products

Financial Services, Insurance, MarketLine, Nigeria


Companies

Aiico Insurance PLC

AXA Mansard Insurance plc

Custodian & Allied Plc

Leadway Assurance Company Ltd