Insurance Industry in Cameroon, Key Trends and Opportunities to 2018

Published: May, 2014 | Pages: 175 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The report provides in-depth industry analysis, information and insights of the insurance industry in Cameroon, including:
The Cameroonian insurance industry's growth prospects by insurance segments and categories
The competitive landscape in the Cameroonian insurance industry
The current trends and drivers of the Cameroonian insurance industry
Challenges facing the Cameroonian insurance industry
Detailed regulatory framework of the Cameroonian insurance industry
A benchmarking section on the Cameroonian insurance industry in comparison to other countries in the African region

Summary
In terms of written premium value, the Cameroonian insurance industry grew at a CAGR of 9.4% during the review period (2009-2013). This increase was on account of the strong performance of the life segment, which registered a CAGR of 12.4% during the review period. The industry is projected to grow at a CAGR of 9.2% over the forecast period. Supported by the nation's robust economic conditions, the expanding life insurance segment is expected to contribute to the overall growth of the Cameroonian insurance industry over the forecast period (2013-2018).
Scope
This report provides a comprehensive analysis of the insurance industry in Cameroon:
It provides historical values for the Cameroonian insurance industry for the report's 2009-2013 review period and projected figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key segments and categories in the Cameroonian insurance industry, along with forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
It profiles the top insurance companies in Cameroon, and outlines the key regulations affecting them.
Reason To Buy
Make strategic business decisions using in-depth historic and forecast industry data related to the Cameroonian insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Cameroonian insurance industry.
Assess the competitive dynamics in the Cameroonian insurance industry.
Identify the growth opportunities and market dynamics within key segments.
Gain insights into key regulations governing the Cameroonian insurance industry and its impact on companies and the industry's future.
Key Highlights
The insurance industry comprises of 22 insurers in total as of 2011.
Cameroon allows 100% foreign direct investment (FDI) in the insurance industry, and the entry of foreign companies increased competitiveness.
Cameroon's rising population spurred the demand life insurance products during the review period, a trend which is expected to continue over the forecast period.
Low life insurance penetration rate offers new insurers an opportunity to scale-up their businesses.
Government infrastructure expenditure is expected to support the non-life insurance segment over the forecast period.
A high combined ratio is one of the key concerns for life insurance companies in Cameroon.
Decrease in the inflation rate to spur insurance sales.

  1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Regiol Market Dymics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Life Insurance Segment - Regiol Benchmarking
4.1 Scale and Penetration
4.1.1 Total gross written premium
4.1.2 Premium per capita
4.1.3 Life insurance penetration
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
5 Non-Life Insurance Segment - Regiol Benchmarking
5.1 Scale and Penetration
5.1.1 Total market gross written premium
5.1.2 Premium per capita
5.1.3 Non-life insurance penetration rate
5.2 Growth
5.2.1 Gross written premium
5.2.2 Gross written premium per capita
5.3 Efficiency and Risk
5.3.1 Loss ratio
5.3.2 Combined ratio
5.3.3 Incurred losses per capita
5.3.4 Incurred losses as a percentage of GDP
6 Persol Accident and Health Insurance Segment - Regiol Benchmarking
6.1 Scale and Penetration
6.1.1 Total market gross written premium
6.1.2 Premium per capita
6.1.3 Persol accident and health insurance penetration
6.2 Growth
6.2.1 Gross written premium
6.2.2 Gross written premium per capita
6.3 Efficiency and Risk
6.3.1 Loss ratio
6.3.2 Combined ratio
6.3.3 Incurred losses per capita
6.3.4 Incurred losses as a percentage of GDP
7 Cameroonian Insurance Industry Overview
7.1 Cameroonian Insurance Industry
7.2 Key Industry Trends and Drivers
7.3 Challenges
7.4 Regulation
8 Industry Segmentation
8.1 Life Insurance
8.1.1 Individual Endowment Insurance
8.1.2 Individual Marriage and Birth Insurance
8.2 Non-Life Insurance
8.2.1 Property insurance
8.2.2 Motor insurance
8.2.3 Liability insurance
8.2.4 Marine, Aviation and Transit insurance
8.3 Persol Accident and Health Insurance
8.4 Reinsurance
9 Governce, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Legislation and Market Practice by Type of Insurance
9.2.1 Life insurance
9.2.2 Property insurance
9.2.3 Motor insurance
9.2.4 Liability insurance
9.2.5 Marine, aviation and transit insurance
9.2.6 Persol accident and health insurance
9.3 Compulsory Insurance
9.3.1 Motor third-party liability insurance
9.3.2 Professiol indemnity insurance for insurance intermediaries
9.3.3 Workers' compensation
9.4 Supervision and Control
9.4.1 Intertiol Association of Insurance Supervisors
9.4.2 Commission Regiol des Assurances (CRCA)
9.4.3 Ministry of Fince (MoF)
9.5 Non-Admitted Insurance Regulations
9.5.1 Overview
9.5.2 Intermediaries
9.5.3 Market practices
9.5.4 Fines and pelties
9.6 Company Registration and Operations
9.6.1 Types of insurance organization
9.6.2 Establishing a local company
9.6.3 Foreign ownership
9.6.4 Types of license
9.6.5 Capital requirements
9.6.6 Solvency margins
9.6.7 Reserve requirements
9.6.8 Investment regulations
9.6.9 Statutory return requirements
9.6.10 Fee structure
9.7 Taxation
9.7.1 Insurance premium or policy taxation
9.7.2 Withholding taxes on premium paid overseas
9.7.3 Corporate tax
9.7.4 VAT
9.7.5 Captives
9.8 Legal System
9.8.1 Introduction
9.8.2 Access to court
9.8.3 Altertive dispute resolution (ADR)
10 Competitive Landscape
10.1 Overview
10.2 Leading Companies
10.2.1 Chas Assurances SA - company overview
10.2.2 Societe Africaine D'Assurances Et De reassurance (SAAR) - company overview
10.2.3 Coli SA - company overview
10.2.4 Nouvelle Societe Interafricaine D'assurances (NSIA) - company overview
11 Macroeconomic Indicators
11.1 GDP at constant prices (US$)
11.2 GDP at current prices (US$)
11.3 GDP Per Capita at current prices (US$)
11.4 Inflation (Percentage)
11.5 Life Expectancy
11.6 Labor Force
11.7 Total Number of Households
11.8 Total Number of Internet Users
11.9 Total Population
11.1 Urban and Rural Population
12 Appendix
12.1 Methodology
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetric's Services
12.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Cameroonian Insurance Overall Written Premium by Segment (XAF Billion), 2009-2013
Table 3: Cameroonian Insurance Overall Written Premium by Segment (US$ Million), 2009-2013
Table 4: Cameroonian Insurance Overall Written Premium by Segment (XAF Billion), 2013-2018
Table 5: Cameroonian Insurance Overall Written Premium by Segment (US$ Million), 2013-2018
Table 6: Cameroonian Insurance Segmentation (% Share), 2009-2018
Table 7: Cameroonian Life Insurance - Written Premium by Category (XAF Billion), 2009-2013
Table 8: Cameroonian Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 9: Cameroonian Life Insurance - Written Premium by Category (XAF Billion), 2013-2018
Table 10: Cameroonian Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 11: Cameroonian Life Insurance - Paid Claims (XAF Billion), 2009-2013
Table 12: Cameroonian Life Insurance - Paid Claims (XAF Billion), 2013-2018
Table 13: Cameroonian Life Insurance - Incurred Loss (XAF Billion), 2009-2013
Table 14: Cameroonian Life Insurance - Incurred Loss (XAF Billion), 2013-2018
Table 15: Cameroonian Life Insurance - Loss Ratio (%), 2009-2013
Table 16: Cameroonian Life Insurance - Loss Ratio (%), 2013-2018
Table 17: Cameroonian Life Insurance - Combined Ratio (%), 2009-2013
Table 18: Cameroonian Life Insurance - Combined Ratio (%), 2013-2018
Table 19: Cameroonian Life Insurance - Total Investment Income (XAF Billion), 2009-2013
Table 20: Cameroonian Life Insurance - Total Investment Income (XAF Billion), 2013-2018
Table 21: Cameroonian Life Insurance - Retentions (XAF Billion), 2009-2013
Table 22: Cameroonian Life Insurance - Retentions (XAF Billion), 2013-2018
Table 23: Cameroonian Individual Endowment Insurance - Written Premium (XAF Billion), 2009-2013
Table 24: Cameroonian Individual Endowment Insurance - Written Premium (XAF Billion), 2013-2018
Table 25: Cameroonian Individual Marriage and Birth Insurance - Written Premium (XAF Billion), 2009-2013
Table 26: Cameroonian Individual Marriage and Birth Insurance - Written Premium (XAF Billion), 2013-2018
Table 27: Cameroonian Non-Life Insurance - Written Premium by Category (XAF Billion), 2009-2013
Table 28: Cameroonian Non-Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 29: Cameroonian Non-Life Insurance - Written Premium by Category (XAF Billion), 2013-2018
Table 30: Cameroonian Non-Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 31: Cameroonian Non-Life Insurance - Paid Claims (XAF Billion), 2009-2013
Table 32: Cameroonian Non-Life Insurance - Paid Claims (XAF Billion), 2013-2018
Table 33: Cameroonian Non-Life Insurance - Incurred Loss (XAF Billion), 2009-2013
Table 34: Cameroonian Non-Life Insurance - Incurred Loss (XAF Billion), 2013-2018
Table 35: Cameroonian Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 36: Cameroonian Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 37: Cameroonian Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 38: Cameroonian Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 39: Cameroonian Non-Life Insurance - Total Investment Income (XAF Billion), 2009-2013
Table 40: Cameroonian Non-Life Insurance - Total Investment Income (XAF Billion), 2013-2018
Table 41: Cameroonian Non-Life Insurance - Retentions (XAF Billion), 2009-2013
Table 42: Cameroonian Non-Life Insurance - Retentions (XAF Billion), 2013-2018
Table 43: Cameroonian Property Insurance - Written Premium (XAF Billion), 2009-2013
Table 44: Cameroonian Property Insurance - Written Premium (XAF Billion), 2013-2018
Table 45: Cameroonian Motor Insurance - Written Premium (XAF Billion), 2009-2013
Table 46: Cameroonian Motor Insurance - Written Premium (XAF Billion), 2013-2018
Table 47: Cameroonian Liability Insurance - Written Premium (XAF Billion), 2009-2013
Table 48: Cameroonian Liability Insurance - Written Premium (XAF Billion), 2013-2018
Table 49: Cameroonian Marine, Aviation and Transit Insurance - Written Premium (XAF Billion), 2009-2013
Table 50: Cameroonian Marine, Aviation and Transit Insurance - Written Premium (XAF Billion), 2013-2018
Table 51: Cameroonian Persol Accident and Health Insurance - Written Premium (XAF Billion), 2009-2013
Table 52: Cameroonian Persol Accident and Health Insurance - Paid Claim (XAF Billion), 2009-2013
Table 53: Cameroonian Persol Accident and Health Insurance - Paid Claim (XAF Billion), 2013-2018
Table 54: Cameroonian Persol Accident and Health Insurance - Incurred Loss (XAF Billion), 2009-2013
Table 55: Cameroonian Persol Accident and Health Insurance - Incurred Loss (XAF Billion), 2013-2018
Table 56: Cameroonian Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 57: Cameroonian Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 58: Cameroonian Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 59: Cameroonian Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 60: Cameroonian Persol Accident and Health Insurance - Total Investment Income (XAF Billion), 2009-2013
Table 61: Cameroonian Persol Accident and Health Insurance - Total Investment Income (XAF Billion), 2013-2018
Table 62: Cameroonian Persol Accident and Health Insurance - Retentions (XAF Billion), 2009-2013
Table 63: Cameroonian Persol Accident and Health Insurance - Retentions (XAF Billion), 2013-2018
Table 64: Cameroonian Reinsurance Ceded by Insurance Industry (XAF Billion), 2009-2013
Table 65: Cameroonian Reinsurance Ceded by Insurance Industry (US$ Million), 2009-2013
Table 66: Cameroonian Reinsurance Ceded by Insurance Industry (XAF Billion), 2013-2018
Table 67: Cameroonian Reinsurance Ceded by Insurance Industry (US$ Million), 2013-2018
Table 68: Cameroonian Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 69: Cameroonian Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 70: Cameroonian Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 71: Cameroonian Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 72: Cameroonian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 73: Cameroonian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 74: Cameroon - Intermediary Remuneration Rates
Table 75: Cameroon - Life Insurance Regulatory Framework
Table 76: Cameroon - Property Insurance Regulatory Framework
Table 77: Cameroon - Motor Insurance Regulatory Framework
Table 78: Cameroon - Liability Insurance Regulatory Framework
Table 79: Cameroon - Corporate Tax Rates for the Fincial Year 2013
Table 80: Cameroonian Insurance Industry - Market Share 2010 and 2011
Table 81: Chas Assurances SA, Main Products
Table 82: Chas Assurances, Key Employees
Table 83: SAAR, Main Products
Table 84: SAAR, Key Employees
Table 85: Coli SA, Main Products
Table 86: Coli SA, Key Employees
Table 87: Nouvelle Societe Interafricaine D'assurances, Main Products
Table 88: Nouvelle Societe Interafricaine D'assurances, Key Employees