Insurance in Nigeria

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 $0.9bn in 2017, representing a compound annual growth rate (CAGR) of 3.3% between 2013 and 2017.
- The non-life segment was the markets most lucrative in 2017, with total gross written premiums of $0.6bn, equivalent to 69.6% of the markets 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 Nigerias insurance market?

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 Tables


Table 1: Nigeria insurance market value: $ billion, 2013-17
Table 2: Nigeria insurance market category segmentation: $ billion, 2017
Table 3: Nigeria insurance market geography segmentation: $ billion, 2017
Table 4: Nigeria insurance market share: % share, by value, 2017
Table 5: Nigeria insurance market value forecast: $ billion, 2017-22
Table 6: Aiico Insurance PLC: key facts
Table 7: Aiico Insurance PLC: key financials ($)
Table 8: Aiico Insurance PLC: key financials (NGN)
Table 9: Aiico Insurance PLC: key financial ratios
Table 10: AXA Mansard Insurance plc: key facts
Table 11: AXA Mansard Insurance plc: key financials ($)
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 ($)
Table 16: Custodian & Allied Plc: key financials (NGN)
Table 17: Custodian & Allied Plc: key financial ratios
Table 18: Leadway Assurance Company Ltd: key facts
Table 19: Leadway Assurance Company Ltd: key financials ($)
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, $ billion), 2013-17
Table 24: Nigeria gdp (current prices, $ 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 Figures


Figure 1: Nigeria insurance market value: $ 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: $ 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

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