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The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022

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The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022

Summary

"The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2022", report provides detailed analysis of the market trends, drivers and challenges in the Burkinab 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 Burkinab economy and demographics, provides detailed information on the competitive landscape and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

This report provides in-depth market analysis, information and insights into the Burkinab insurance industry, including -
- The Burkinab insurance industrys growth prospects by segment and category
- A comprehensive overview of the Burkinab economy and demographics
- Details of the competitive landscape in the Burkinab insurance industry
- The various distribution channels in the Burkinab insurance industry
- Details of regulatory policy applicable to the Burkinab insurance industry
- Analysis of natural hazards in the Burkinab insurance industry.

Key Findings

- Mobile network operators (MNOs) and microfinance institutions (MFIs) are playing an instrumental role in the development of microinsurance in Burkina Faso.
- On September 5, 2015, the government of Burkina Faso introduced a universal health insurance system (AMU) to offer health cover to the domestic population.
- Based on the approval of the regulatory authority, the Confrence Interafricaine des Marchs dAssurances (CIMA) Code allows up to 50% of any reinsurance risk to be placed abroad, and more than 50% of risk with unlicensed overseas reinsurers.

Scope

- This report provides a comprehensive analysis of the insurance industry in Burkina Faso.
- It provides historical values for the Burkinab insurance industry for the reports 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
- It offers a detailed analysis of the key segments in the Burkinab 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 Burkina Faso.
- It profiles the top insurance companies in Burkina Faso 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 Burkinab insurance industry and each segment and category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Burkinab insurance industry.
- Assess the competitive dynamics in the Burkinab insurance industry.
- Identify the growth opportunities and market dynamics in key segments.
- Gain insights into key regulations governing the Burkinab insurance industry and their impact on companies and the industrys future.

1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Industry Outlook
4.1 Industry Indicators
4.1.1 Direct written premium
4.1.2 Insurance density
4.1.3 Paid claims
5 Life Insurance Outlook
5.1 Segment Indicators
5.1.1 Direct written premium
5.1.2 Paid claims
5.1.3 Penetration
5.1.4 Assets and investments
6 General Insurance Outlook
6.1 Segment Indicators
6.1.1 Gross written premium
6.1.2 Direct written premium
6.1.3 Paid claims
6.1.4 Penetration
6.1.5 Loss ratio
6.1.6 Assets and investments
6.2 Property Insurance
6.2.1 Direct written premium
6.2.2 Penetration
6.2.3 Profitability
6.3 Motor Insurance
6.3.1 Direct written premium
6.3.2 Penetration
6.3.3 Profitability
6.4 Liability Insurance
6.4.1 Direct written premium
6.4.2 Penetration
6.4.3 Profitability
6.5 Marine, Aviation and Transit Insurance
6.5.1 Direct written premium
6.5.2 Penetration
6.5.3 Profitability
6.6 Personal Accident and Health Insurance
6.6.1 Direct written premium
6.6.2 Penetration
6.6.3 Profitability
6.7 Miscellaneous
6.7.1 Direct written premium
6.7.2 Penetration
6.7.3 Profitability
7 Reinsurance Outlook
7.1 Premium Ceded
8 Distribution Channel Outlook
9 Natural and Man-Made Hazards
9.1 Flooding
9.2 Droughts
9.3 Man Made Hazards
9.4 Epidemics
9.5 Exposure
10 Competitive Landscape
10.1 Company Profiles
10.1.1 Societe Nationale dAssurances et de Reassurances - company overview
10.1.2 Union Des Assurances Du Burkina - company overview
10.1.3 Allianz Burkina Assurance - company overview
10.1.4 Saham Assurance - company overview
10.1.5 Generale des 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
11.5.3 Directions Nationales des Assurances
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 Claims and expenses
12.1.3 Assets and investments
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 Motor insurance by category
12.2.8 Liability insurance
12.2.9 Marine, aviation and transit insurance
12.2.10 Marine, aviation and transit insurance by category
12.2.11 Personal accident and health insurance
12.2.12 Miscellaneous
13 Definitions and Methodology
13.1 Definitions
13.2 Methodology
14 About GlobalData
14.1 Contact GlobalData
14.2 About GlobalData
14.3 GlobalDatas Services
14.4 Disclaimer

List Of Tables

List of Tables
Table 1: Burkinab Insurance Industry - Key Facts, 2017
Table 2: Burkinab Insurance Industry - Industry Shares of the Top Insurers, 2017
Table 3: Burkinab Government Credit Ratings
Table 4: Burkinab Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 5: Burkinab Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 6: Burkinab Insurance Industry - Density (XOF), 2013-2017
Table 7: Burkinab Insurance Industry - Density (XOF), 2017-2022
Table 8: Burkinab Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 9: Burkinab Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 10: Burkinab Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 11: Burkinab Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 12: Burkinab Life Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 13: Burkinab Life Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 14: Burkinab Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
Table 15: Burkinab Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
Table 16: Burkinab Life Insurance - Investment Portfolio (XOF Billion), 2013-2017
Table 17: Burkinab Life Insurance - Investment Portfolio (XOF Billion), 2017-2022
Table 18: Burkinab General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2013-2017
Table 19: Burkinab General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2017-2022
Table 20: Burkinab General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 21: Burkinab General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 22: Burkinab General Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
Table 23: Burkinab General Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
Table 24: Burkinab General Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
Table 25: Burkinab General Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
Table 26: Burkinab General Insurance - Investment Portfolio (XOF Billion), 2013-2017
Table 27: Burkinab General Insurance - Investment Portfolio (XOF Billion), 2017-2022
Table 28: Burkinab Property Insurance - Direct Written Premium (XOF Billion and US$ Billion), 2013-2017
Table 29: Burkinab Property Insurance - Direct Written Premium (XOF Billion and US$ Billion), 2017-2022
Table 30: Burkinab Property Insurance - Loss Ratio (%), 2013-2017
Table 31: Burkinab Property Insurance - Loss Ratio (%), 2017-2022
Table 32: Burkinab Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 33: Burkinab Motor Insurance - Gross Written Premium (XOF Billion and US$ Million), 2017-2022
Table 34: Burkinab Motor Insurance - Loss Ratio (%), 2013-2017
Table 35: Burkinab Motor Insurance - Loss Ratio (%), 2017-2022
Table 36: Burkinab Liability Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 37: Burkinab Liability Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 38: Burkinab Liability Insurance - Loss Ratio (%), 2013-2017
Table 39: Burkinab Liability Insurance - Loss Ratio (%), 2017-2022
Table 40: Burkinab Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 41: Burkinab Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 42: Burkinab Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017
Table 43: Burkinab Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022
Table 44: Burkinab Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Billion), 2013-2017
Table 45: Burkinab Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 46: Burkinab Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
Table 47: Burkinab Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
Table 48: Burkinab Miscellaneous - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
Table 49: Burkinab Miscellaneous - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
Table 50: Burkinab Miscellaneous - Loss Ratio (%), 2013-2017
Table 51: Burkinab Miscellaneous - Loss Ratio (%), 2017-2022
Table 52: Burkinab Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2017
Table 53: Burkinab Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2017-2022
Table 54: Burkinab Insurance Industry - Market Share of Leading Insurers (%), 2016
Table 55: Burkinab Insurance Industry - Market Share of Life Insurers (%), 2016
Table 56: Burkinab Insurance Industry - Market Share of General Insurers (%), 2016
Table 57: Societe Nationale dAssurances et de Reassurances - Key Facts
Table 58: Union des Assurances du Burkina - Key Facts
Table 59: Allianz Burkina Assurance - Key Facts
Table 60: Saham Assurance - Key Facts
Table 61: Generale des Assurances - Key Facts
Table 62: Burkina Faso - Insurance Regulatory Framework Key Features
Table 63: Burkina Faso - Intermediary Remuneration Rates
Table 64: Burkina Faso - Life Insurance Regulatory Framework
Table 65: Burkina Faso - Property Insurance Regulatory Framework
Table 66: Burkina Faso - Motor Insurance Regulatory Framework
Table 67: Burkina Faso - Liability Insurance Regulatory Framework
Table 68: Burkina Faso - Insurance Premium Tax Rates
Table 69: Burkina Faso - Corporate Tax Rates for the Financial Year 2017
Table 70: Burkinab Life Insurance - Policies and Premium, 2013-2017
Table 71: Burkinab Life Insurance - Policies and Premium, 2017-2022
Table 72: Burkinab Life Insurance - Claims and Expenses, 2013-2017
Table 73: Burkinab Life Insurance - Claims and Expenses, 2017-2022
Table 74: Burkinab Life Insurance - Assets and Investments, 2013-2017
Table 75: Burkinab Life Insurance - Assets and Investments, 2017-2022
Table 76: Burkinab General Insurance - Policies and Premium, 2013-2017
Table 77: Burkinab General Insurance - Policies and Premium, 2017-2022
Table 78: Burkinab General Insurance - Claims and Expenses, 2013-2017
Table 79: Burkinab General Insurance - Claims and Expenses, 2017-2022
Table 80: Burkinab General Insurance - Assets and Investments, 2013-2017
Table 81: Burkinab General Insurance - Assets and Investments, 2017-2022
Table 82: Burkinab General Insurance - Property Insurance, 2013-2017
Table 83: Burkinab General Insurance - Property Insurance, 2017-2022
Table 84: Burkinab General Insurance - Property Insurance by Category, 2013-2017
Table 85: Burkinab General Insurance - Property Insurance by Category, 2017-2022
Table 86: Burkinab General Insurance - Motor Insurance, 2013-2017
Table 87: Burkinab General Insurance - Motor Insurance, 2017-2022
Table 88: Burkinab General Insurance - Motor Insurance by Category, 2013-2017
Table 89: Burkinab General Insurance - Motor Insurance by Category, 2017-2022
Table 90: Burkinab General Insurance - Liability Insurance, 2013-2017
Table 91: Burkinab General Insurance - Liability Insurance, 2017-2022
Table 92: Burkinab General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
Table 93: Burkinab General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
Table 94: Burkinab General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017
Table 95: Burkinab General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022
Table 96: Burkinab General Insurance - Personal Accident and Health Insurance, 2013-2017
Table 97: Burkinab General Insurance - Personal Accident and Health Insurance, 2017-2022
Table 98: Burkinab General Insurance - Miscellaneous, 2013-2017
Table 99: Burkinab General Insurance - Miscellaneous, 2017-2022
Table 100: Insurance Industry Definitions

List Of Figures

List of Figures
Figure 1: Burkinab Real GDP (XOF Trillion), 2013-2022
Figure 2: Burkinab Exchange Rate (XOF per US$), 2013-2022
Figure 3: Burkinab Consumer Price Inflation (%), 2013-2022
Figure 4: Burkinab Current Account Balance as Percentage of GDP (%), 2013-2017
Figure 5: Burkinab Unemployment Rate, 2013-2022
Figure 6: Burkinab Population by Age Group, 2013-2022
Figure 7: Burkinab Insurance Industry - Direct Written Premium (XOF Billion), 2013-2022
Figure 8: Burkinab Insurance Industry - Density (XOF), 2013-2022
Figure 9: Burkinab Insurance Industry - Paid Claims (XOF Billion), 2013-2022
Figure 10: Burkinab Life Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 11: Burkinab Life Insurance - Paid Claims (XOF Billion), 2013-2022
Figure 12: Burkinab Life Insurance - Penetration (%), 2013-2017
Figure 13: Burkinab Life Insurance - Penetration (%), 2017-2022
Figure 14: Burkinab Life Insurance - Total Investment Income (XOF Billion), 2013-2022
Figure 15: Burkinab Life Insurance - Investment Portfolio (XOF Billion), 2013-2022
Figure 16: Burkinab Life Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
Figure 17: Burkinab General Insurance - Gross Written Premium (XOF Billion), 2013-2022
Figure 18: Burkinab General Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 19: Burkinab General Insurance - Paid Claims (XOF Billion), 2013-2022
Figure 20: Burkinab General Insurance - Penetration (%), 2013-2017
Figure 21: Burkinab General Insurance - Penetration (%), 2017-2022
Figure 22: Burkinab General Insurance - Loss Ratio (%), 2013-2017
Figure 23: Burkinab General Insurance - Loss Ratio (%), 2017-2022
Figure 24: Burkinab General Insurance - Total Investment Income (XOF Billion), 2013-2022
Figure 25: Burkinab General Insurance - Investment Portfolio (XOF Billion), 2013-2022
Figure 26: Burkinab General Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
Figure 27: Burkinab Property Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 28: Burkinab Property Insurance - Penetration (%), 2013-2017
Figure 29: Burkinab Property Insurance - Penetration (%), 2017-2022
Figure 30: Burkinab Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 31: Burkinab Motor Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 32: Burkinab Motor Insurance - Penetration (%), 2013-2017
Figure 33: Burkinab Motor Insurance - Penetration (%), 2017-2022
Figure 34: Burkinab Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 35: Burkinab Liability Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 36: Burkinab Liability Insurance - Penetration (%), 2013-2017
Figure 37: Burkinab Liability Insurance - Penetration (%), 2017-2022
Figure 38: Burkinab Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 39: Burkinab Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 40: Burkinab Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
Figure 41: Burkinab Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
Figure 42: Burkinab Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 43: Burkinab Personal Accident and Health Insurance - Direct Written Premium (XOF Billion), 2013-2022
Figure 44: Burkinab Personal Accident and Health Insurance - Penetration (%), 2013-2017
Figure 45: Burkinab Personal Accident and Health Insurance - Penetration (%), 2017-2022
Figure 46: Burkinab Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 47: Burkinab Miscellaneous - Direct Written Premium (XOF Billion), 2013-2022
Figure 48: Burkinab Miscellaneous - Penetration (%), 2013-2017
Figure 49: Burkinab Miscellaneous - Penetration (%), 2017-2022
Figure 50: Burkinab Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
Figure 51: Burkinab Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2022
Figure 52: Burkinab General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
Figure 53: Burkinab Insurance Industry - Market Share of Leading Insurers (%), 2016
Figure 54: Burkinab Insurance Industry - Market Share of Life Insurers (%), 2016
Figure 55: Burkinab Insurance Industry - Market Share of General Insurers (%), 2016
Figure 56: Burkina Faso - Insurance Supervision and Control at Various Levels
Figure 57: Burkina Faso - Insurance Regulatory Frameworks for Company Registration and Operation

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Reports Details

Published Date : Jun 2018
No. of Pages :134
Country :Burkina Faso
Category :Financial Services
Publisher :GlobalData
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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