The Insurance Industry in Botswana, Key Trends and Opportunities to 2018

Published: Sep, 2014 | Pages: 150 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The report provides in-depth industry analysis, information and insights into the insurance industry in Botswana, including:
The Botswanan insurance industry's growth prospects by insurance segments and categories
The competitive landscape in the Botswanan insurance industry
The current trends and drivers of the Botswanan insurance industry
Challenges facing the Botswanan insurance industry
Detailed regulatory framework of the Botswanan insurance industry

Summary
The Botswanan insurance industry is dominated by the life segment, which constituted 70.0% of the total gross written premium. It was followed by the non-life segment with 28.6% and the personal accident and health segment with 1.4% at the end of 2013. Property insurance was the largest category in the non-life segment with 54.5% of its gross written premium, followed by motor insurance with 33.7% and liability, and marine, aviation and transit insurance with 9.0% and 2.9% respectively. Growth in the non-life segment was largely supported by diamond exports.
Scope
This report provides a comprehensive analysis of the insurance industry in Botswana:
It provides historical values for the Botswanan insurance industry for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key segments and categories in the Botswanan 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 Botswana, 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 Botswanan insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Botswanan insurance industry.
Assess the competitive dynamics in the Botswanan insurance industry.
Identify the growth opportunities and market dynamics within key segments.
Gain insights into key regulations governing the Botswanan insurance industry and its impact on companies and the industry's future.
Key Highlights
Botswana's diamond exports constituted one-third of government revenues and 80% of earnings from exports in 2013.
The Botswanan insurance industry is dominated by the life segment, which constituted 70.0% of the total gross written premium. It was followed by the non-life segment with 28.6% and the personal accident and health segment with 1.4% at the end of 2013.
According to the African Economic Outlook, Botswana was one of the least corrupt countries in Africa in 2013, followed by Namibia and Ghana.
A major challenge in Botswana is the country's high unemployment rate, which stood at 17% in 2013.
As of 2012, there were seven life insurers and 12 non-life insurance companies operating in the country.
The life segment is highly concentrated, with the two leading insurers accounting for 87.9% of the total gross written premium in 2012. The non-life segment is also concentrated, with the top three insurers accounting for 59.2% of the total gross written premium in 2012.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Botswan Insurance Industry Overview
3.1 Botswan Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
4 Industry Segmentation
4.1 Life Insurance
4.2 Non-Life Insurance
4.2.1 Property insurance
4.2.2 Motor insurance
4.2.3 Liability insurance
4.2.4 Marine, aviation and transit insurance
4.3 Persol Accident and Health Insurance
4.4 Reinsurance
5 Governce, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Legislation and Market Practice by Type of Insurance
5.2.1 Life insurance
5.2.2 Property insurance
5.2.3 Motor insurance
5.2.4 Liability insurance
5.2.5 Marine, aviation and transit insurance
5.2.6 Persol accident and health insurance
5.3 Compulsory Insurance
5.3.1 Workers' compensation
5.3.2 Motor third-party liability
5.3.3 Professiol indemnity
5.4 Supervision and Control
5.4.1 Intertiol Association of Insurance Supervisors (IAIS)
5.4.2 Non-Bank Fincial Institutions Regulatory Authority (NBFIRA)
5.5 Non-Admitted Insurance Regulations
5.5.1 Overview
5.5.2 Intermediaries
5.5.3 Market practices
5.5.4 Fines and pelties
5.6 Company Registration and Operations
5.6.1 Types of insurance organization
5.6.2 Establishing a local company
5.6.3 Foreign ownership
5.6.4 Types of license
5.6.5 Capital requirements
5.6.6 Solvency margins
5.6.7 Reserve requirements
5.6.8 Investment regulations
5.6.9 Statutory return requirements
5.6.10 Fee structure
5.7 Taxation
5.7.1 Insurance premium or policy taxation
5.7.2 Withholding taxes on premium paid overseas
5.7.3 Corporate tax
5.7.4 VAT
5.7.5 Captives
5.8 Legal System
5.8.1 Introduction
5.8.2 Access to court
5.8.3 Altertive dispute resolution (ADR)
6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 Botswa Life Insurance Ltd (BLIL) - company overview
6.2.2 Metropolitan Life Botswa - company overview
6.2.3 Botswa Insurance Company Ltd - company overview
6.2.4 Zurich Insurance Company Botswa - company overview
6.2.5 Regent Insurance Botswa (Pty) Ltd - company overview
7 Economic Indicators
7.1 GDP at Constant Prices (US$)
7.2 GDP at Current Prices (US$)
7.3 GDP per Capita at Current Prices (US$)
7.4 Inflation (Percentage)
7.5 Life Expectancy (Years)
7.6 Labor Force (Million)
7.7 Total Number of Households (Thousand)
7.8 Total Number of Internet Users (Thousand)
7.9 Urban and Rural Populations (Percentage)
7.1 Total Population (Million)
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Botswan Insurance - Gross Written Premium by Segment (BWP Billion), 2009-2013
Table 3: Botswan Insurance - Gross Written Premium by Segment (US$ Million), 2009-2013
Table 4: Botswan Insurance - Gross Written Premium by Segment (BWP Billion), 2013-2018
Table 5: Botswan Insurance - Gross Written Premium by Segment (US$ Million), 2013-2018
Table 6: Botswan Insurance - Segmentation by Gross Written Premium (% Share), 2009-2018
Table 7: Botswan Insurance - Direct Written Premium by Segment (BWP Billion), 2009-2013
Table 8: Botswan Insurance - Direct Written Premium by Segment (US$ Million), 2009-2013
Table 9: Botswan Insurance Direct Written Premium by Segment (BWP Billion), 2013-2018
Table 10: Botswan Insurance Direct Written Premium by Segment (US$ Million), 2013-2018
Table 11: Botswan Insurance Segmentation by Direct Written Premium (% Share), 2009-2018
Table 12: Botswan Life Insurance - Gross Written Premium (BWP Billion), 2009-2013
Table 13: Botswan Life Insurance - Gross Written Premium (BWP Billion), 2013-2018
Table 14: Botswan Life Insurance - Direct Written Premium (BWP Billion), 2009-2013
Table 15: Botswan Life Insurance - Direct Written Premium (BWP Billion), 2013-2018
Table 16: Botswan Life Insurance - Paid Claims (BWP Billion), 2009-2013
Table 17: Botswan Life Insurance - Paid Claims (BWP Billion), 2013-2018
Table 18: Botswan Life Insurance - Incurred Loss (BWP Billion), 2009-2013
Table 19: Botswan Life Insurance - Incurred Loss (BWP Billion), 2013-2018
Table 20: Botswan Life Insurance - Loss Ratio (%), 2009-2013
Table 21: Botswan Life Insurance - Loss Ratio (%), 2013-2018
Table 22: Botswan Life Insurance - Combined Ratio (%), 2009-2013
Table 23: Botswan Life Insurance - Combined Ratio (%), 2013-2018
Table 24: Botswan Life Insurance - Total Assets (BWP Billion), 2009-2013
Table 25: Botswan Life Insurance - Total Assets (BWP Billion), 2013-2018
Table 26: Botswan Life Insurance - Total Investment Income (BWP Billion), 2009-2013
Table 27: Botswan Life Insurance - Total Investment Income (BWP Billion), 2013-2018
Table 28: Botswan Life Insurance - Retentions (BWP Billion), 2009-2013
Table 29: Botswan Life Insurance - Retentions (BWP Billion), 2013-2018
Table 30: Botswan Non-Life Insurance - Gross Written Premium by Category (BWP Billion), 2009-2013
Table 31: Botswan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
Table 32: Botswan Non-Life Insurance - Gross Written Premium by Category (BWP Billion), 2013-2018
Table 33: Botswan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
Table 34: Botswan Non-Life Insurance - Direct Written Premium by Category (BWP Billion), 2009-2013
Table 35: Botswan Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2009-2013
Table 36: Botswan Non-Life Insurance - Direct Written Premium by Category (BWP Billion), 2013-2018
Table 37: Botswan Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2013-2018
Table 38: Botswan Non-Life Insurance - Paid Claims (BWP Billion), 2009-2013
Table 39: Botswan Non-Life Insurance - Paid Claims (BWP Billion), 2013-2018
Table 40: Botswan Non-Life Insurance - Incurred Loss (BWP Billion), 2009-2013
Table 41: Botswan Non-Life Insurance - Incurred Loss (BWP Billion), 2013-2018
Table 42: Botswan Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 43: Botswan Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 44: Botswan Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 45: Botswan Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 46: Botswan Non-Life Insurance - Total Assets (BWP Billion), 2009-2013
Table 47: Botswan Non-Life Insurance - Total Assets (BWP Billion), 2013-2018
Table 48: Botswan Non-Life Insurance - Total Investment Income (BWP Million), 2009-2013
Table 49: Botswan Non-Life Insurance - Total Investment Income (BWP Million), 2013-2018
Table 50: Botswan Non-Life Insurance - Retentions (BWP Billion), 2009-2013
Table 51: Botswan Non-Life Insurance - Retentions (BWP Billion), 2013-2018
Table 52: Botswan Property Insurance - Gross Written Premium (BWP Billion), 2009-2013
Table 53: Botswan Property Insurance - Gross Written Premium (BWP Billion), 2013-2018
Table 54: Botswan Motor Insurance - Gross Written Premium (BWP Billion), 2009-2013
Table 55: Botswan Motor Insurance - Gross Written Premium (BWP Billion), 2013-2018
Table 56: Botswan Liability Insurance - Gross Written Premium (BWP Million), 2009-2013
Table 57: Botswan Liability Insurance - Gross Written Premium (BWP Million), 2013-2018
Table 58: Botswan Marine, Aviation and Transit Insurance - Gross Written Premium (BWP Million), 2009-2013
Table 59: Botswan Marine, Aviation and Transit Insurance - Gross Written Premium (BWP Million), 2013-2018
Table 60: Botswan Persol Accident and Health Insurance - Gross Written Premium (BWP Million), 2009-2013
Table 61: Botswan Persol Accident and Health Insurance - Gross Written Premium (BWP Million), 2013-2018
Table 62: Botswan Persol Accident and Health Insurance - Direct Written Premium (BWP Million), 2009-2013
Table 63: Botswan Persol Accident and Health Insurance - Direct Written Premium (BWP Million), 2013-2018
Table 64: Botswan Persol Accident and Health Insurance - Paid Claims (BWP Million), 2009-2013
Table 65: Botswan Persol Accident and Health Insurance - Paid Claim (BWP Million), 2013-2018
Table 66: Botswan Persol Accident and Health Insurance - Incurred Loss (BWP Million), 2009-2013
Table 67: Botswan Persol Accident and Health Insurance - Incurred Loss (BWP Million), 2013-2018
Table 68: Botswan Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 69: Botswan Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 70: Botswan Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 71: Botswan Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 72: Botswan Persol Accident and Health Insurance - Total Assets (BWP Billion), 2009-2013
Table 73: Botswan Persol Accident and Health Insurance - Total Assets (BWP Billion), 2013-2018
Table 74: Botswan Persol Accident and Health Insurance - Total Investment Income (BWP Million), 2009-2013
Table 75: Botswan Persol Accident and Health Insurance - Total Investment Income (BWP Million), 2013-2018
Table 76: Botswan Persol Accident and Health Insurance - Retentions (BWP Million), 2009-2013
Table 77: Botswan Persol Accident and Health Insurance - Retentions (BWP Million), 2013-2018
Table 78: Botswan Reinsurance - Ceded by Insurance Segment (BWP Million), 2009-2013
Table 79: Botswan Reinsurance - Ceded by Insurance Segment (US$ Million), 2009-2013
Table 80: Botswan Reinsurance - Ceded by Insurance Segment (BWP Million), 2013-2018
Table 81: Botswan Reinsurance - Ceded by Insurance Segment (US$ Million), 2013-2018
Table 82: Botswan Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 83: Botswan Life Insurance - Percentage of Reinsurance Ceded (%),2013-2018
Table 84: Botswan Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 85: Botswan Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 86: Botswan Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 87: Botswan Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 88: Botswa - Life Insurance Regulatory Framework
Table 89: Botswa - Property Insurance Regulatory Framework
Table 90: Botswa - Motor Insurance Regulatory Framework
Table 91: Botswa - Liability Insurance Regulatory Framework
Table 92: Botswa - Corporate Tax Rates for the Fincial Year 2013
Table 93: Botswan Life Insurance - Segment Shares, 2011 and 2012
Table 94: Botswan Non-Life Insurance - Segment Shares, 2011 and 2012
Table 95: Botswa Life Insurance Ltd (BLIL), Main Products
Table 96: Botswa Life Insurance Ltd (BLIL), Key Employees
Table 97: Metropolitan Life Botswa, Main Products
Table 98: Botswa Life Insurance Ltd (BLIL), Key Employees
Table 99: Botswa Insurance Company Ltd, Main Products
Table 100: Zurich Insurance Company Botswa, Main Products
Table 101: Zurich Insurance Company Botswa, Key Employees
Table 102: Regent Insurance Botswa (Pty) Ltd, Main Products
Table 103: Regent Insurance Botswa (Pty) Ltd, Key Employees