The Insurance Industry in Botswana Key Trends and Opportunities to 2020

Published: Feb, 2017 | Pages: 104 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Summary

Timetric’s 'The Insurance Industry in Botswana, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Botswanan insurance industry, including:

• An overview of the Botswanan insurance industry

• The Botswanan insurance industry's growth prospects by segment and category

• A comprehensive overview of the Botswanan economy and demographics

• The detailed competitive landscape in the Botswanan insurance industry

• Details of regulatory policy applicable to the Botswanan insurance industry

• Analysis of natural hazards in the Botswanan insurance industry

Synopsis

Timetric’s 'The Insurance Industry in Botswana, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Botswanan insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).

The report also gives a comprehensive overview of the Botswanan economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes analysis of the impact of natural hazards on the insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

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 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key segments in the Botswanan insurance industry, with market forecasts to 2020.

• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

• It profiles the top insurance companies in Botswana, and highlights recent developments.

• It covers the economy and demographic structure of Botswana.

• It analyzes the impact of natural hazards in the Botswanan insurance industry.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Botswanan insurance industry and each segment and category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Botswanan insurance industry.

• Assess the competitive dynamics in the Botswanan insurance industry.

• Identify growth opportunities and market dynamics in key segments.

• Gain insights into key regulations governing the Botswanan insurance industry, and their impact on companies and the industry's future.

Key Highlights

• Life insurance was the largest segment in the Botswanan insurance industry in 2015, accounting for 72.1% of the industry’s gross written premium.

• The non-life segment accounted for 26.8% of the industry's gross written premium.

• Property was the largest category within the non-life segment during the review period. It accounted for 54.3% of the segment’s gross written premium in 2015.

• The personal accident and health segment accounted for 1.1% of the industry's gross written premium in 2015.

• The top five life insurers accounted for 99.3% of the market share in terms of gross written premium.

 Table of Content

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demography

4 Industry Outlook
4.1 Industry Indicators
4.1.1 Gross written premium
4.1.2 Assets and investments

5 Life Insurance Outlook
5.1 Individual Life Insurance
5.1.1 Gross written premium

6 Non-Life Insurance Outlook
6.1 Property Insurance
6.1.1 Gross written premium
6.2 Motor Insurance
6.2.1 Gross written premium
6.3 Liability Insurance
6.3.1 Gross written premium
6.4 Marine, Aviation and Transit Insurance
6.4.1 Gross written premium

7 Personal Accident and Health Insurance Outlook
7.1 Personal Accident Insurance
7.1.1 Gross written premium

8 Reinsurance Outlook
8.1 Premium Accepted
8.2 Premium Ceded

9 Distribution Channel Outlook

10 Natural and Man-Made Hazards
10.1 Flooding
10.2 Droughts
10.3 Storms
10.4 Wild Fire
10.5 Epidemic
10.6 Man Made Disasters
10.7 Exposure

11 Competitive Landscape
11.1 Company Profiles
11.1.1 Botswana Life Insurance Ltd – company overview
11.1.2 Metropolitan Life Botswana Ltd – company overview
11.1.3 Botswana Insurance Company Ltd – company overview
11.1.4 Regent Insurance (Botswana) (Pty) Ltd – company overview
11.1.5 Mutual & Federal Insurance Company of Botswana Ltd – company overview
11.1.6 Zurich Insurance Company Botswana Ltd – company overview

12 Governance, Risk and Compliance
12.1 Legislation Overview and Historical Evolution
12.2 Latest Changes in Regulation
12.3 Legislation and Market Practice by Type of Insurance
12.3.1 Life insurance
12.3.2 Property insurance
12.3.3 Motor insurance
12.3.4 Liability insurance
12.3.5 Marine, aviation and transit insurance
12.3.6 Personal accident and health insurance
12.4 Compulsory Insurance
12.4.1 Workers’ compensation
12.4.2 Motor third-party liability insurance
12.4.3 Professional indemnity insurance
12.4.4 Aviation liability insurance
12.5 Supervision and Control
12.5.1 International Association of Insurance Supervisors
12.5.2 Non-Bank Financial Institutions Regulatory Authority
12.6 Non-Admitted Insurance Regulations
12.6.1 Overview
12.6.2 Intermediaries
12.6.3 Market practices
12.6.4 Fines and Penalties
12.7 Company Registration and Operations
12.7.1 Type of insurance organization
12.7.2 Establishing a local company
12.7.3 Foreign ownership
12.7.4 Types of license
12.7.5 Capital requirements
12.7.6 Solvency margin
12.7.7 Reserve requirements
12.7.8 Investment regulations
12.7.9 Statutory return requirements
12.7.10 Fee structure
12.8 Taxation
12.8.1 Insurance premium or policy taxation
12.8.2 Withholding taxes on premium paid overseas
12.8.3 Corporate tax
12.8.4 VAT
12.8.5 Captives
12.9 Legal System
12.9.1 Introduction
12.9.2 Access to court
12.9.3 Alternative dispute resolution

13 Databook
13.1 Life Insurance
13.1.1 Policies and premium
13.1.2 Claims and expenses
13.1.3 Assets and investments
13.2 Non-Life Insurance
13.2.1 Policies and premium
13.2.2 Claims and expenses
13.2.3 Assets and investments
13.2.4 Property insurance
13.2.5 Property insurance by product
13.2.6 Motor insurance
13.2.7 Liability insurance
13.2.8 Marine, aviation and transit insurance
13.3 Personal Accident and Health Insurance
13.3.1 Policies and premium
13.3.2 Claims and expenses
13.3.3 Assets and investments

14 Definitions and Methodology
14.1 Definitions
14.2 Methodology

15 About Timetric
15.1 Contact Timetric
15.2 About Timetric
15.3 Timetric’s Services
15.4 Disclaimer

List of Tables

Table 1: Botswanan Insurance Industry – Key Facts, 2015
Table 2: Botswanan Insurance Industry – Top Insurers, 2015
Table 3: Botswanan Government Credit Ratings
Table 4: Botswanan Insurance Industry – Gross Written Premium by Segment (BWP Billion), 2011–2015
Table 5: Botswanan Insurance Industry – Gross Written Premium by Segment (BWP Billion), 2015–2020
Table 6: Botswanan Insurance Industry – Total Assets by Segment (BWP Million), 2011–2015
Table 7: Botswanan Insurance Industry – Total Assets by Segment (BWP Million), 2015–2020
Table 8: Botswanan Insurance Industry – Total Investment Income by Segment (BWP Million), 2011–2015
Table 9: Botswanan Insurance Industry – Total Investment Income by Segment (BWP Million), 2015–2020
Table 10: Botswanan Individual Life Insurance – Gross Written Premium (BWP Billion and US$ Billion), 2011–2015
Table 11: Botswanan Individual Life Insurance – Gross Written Premium (BWP Billion and US$ Billion), 2015–2020
Table 12: Botswanan Property Insurance – Gross Written Premium (BWP Million and US$ Million), 2011–2015
Table 13: Botswanan Property Insurance – Gross Written Premium (BWP Million and US$ Million), 2015–2020
Table 14: Botswanan Motor Insurance – Gross Written Premium (BWP Million and US$ Million), 2011–2015
Table 15: Botswanan Motor Insurance – Gross Written Premium (BWP Million and US$ Million), 2015–2020
Table 16: Botswanan Liability Insurance – Gross Written Premium (BWP Million and US$ Million), 2011–2015
Table 17: Botswanan Liability Insurance – Gross Written Premium (BWP Million and US$ Million), 2015–2020
Table 18: Botswanan Marine, Aviation and Transit Insurance – Gross Written Premium (BWP Million and US$ Million), 2011–2015
Table 19: Botswanan Marine, Aviation and Transit Insurance – Gross Written Premium (BWP Million and US$ Million), 2015–2020
Table 20: Botswanan Personal Accident Insurance – Gross Written Premium (BWP Million and US$ Million), 2011–2015
Table 21: Botswanan Personal Accident Insurance – Gross Written Premium (BWP Million and US$ Million), 2015–2020
Table 22: Botswanan Reinsurance – Total Premium Accepted (BWP Million and US$ Million), 2011–2015
Table 23: Botswanan Reinsurance – Total Premium Accepted (BWP Million and US$ Million), 2015–2020
Table 24: Botswanan Reinsurance – Premium Ceded by Insurance Segment (BWP Million), 2011–2015
Table 25: Botswanan Reinsurance – Premium Ceded by Insurance Segment (BWP Million), 2015–2020
Table 26: List Of Brokers in Botswana, 2016
Table 27: Botswanan Insurance Industry – Segment Shares of Leading Life Insurers (%), 2015
Table 28: Botswanan Insurance Industry – Segment Shares (%) of Leading Non-Life Insurers, 2015
Table 29: Botswana Life Insurance Ltd – Key Facts
Table 30: Metropolitan Life Botswana Ltd – Key Facts
Table 31: Botswana Insurance Company Ltd – Key Facts
Table 32: Regent Insurance (Botswana) (Pty) Ltd – Key Facts
Table 33: Mutual & Federal Insurance Company of Botswana Ltd – Key Facts
Table 34: Zurich Insurance Company Botswana Ltd – Key Facts
Table 35: Botswana– Insurance Regulatory Framework Key Features
Table 36: Botswana – Life Insurance Regulatory Framework
Table 37: Botswana – Property Insurance Regulatory Framework
Table 38: Botswana– Motor Insurance Regulatory Framework
Table 39: Botswana – Liability Insurance Regulatory Framework
Table 40: Botswana – Corporate Tax Rates for the Financial Year 2017
Table 41: Botswanan Life Insurance – Policies and Premium, 2011–2015
Table 42: Botswanan Life Insurance – Policies and Premium, 2015–2020
Table 43: Botswanan Life Insurance – Claims and Expenses, 2011–2015
Table 44: Botswanan Life Insurance – Claims and Expenses, 2015–2020
Table 45: Botswanan Life Insurance – Assets and Investments, 2011–2015
Table 46: Botswanan Life Insurance – Assets and Investments, 2015–2020
Table 47: Botswanan Non-Life Insurance – Policies and Premium, 2011–2015
Table 48: Botswanan Non-Life Insurance – Policies and Premium, 2015–2020
Table 49: Botswanan Non-Life Insurance – Claims and Expenses, 2011–2015
Table 50: Botswanan Non-Life Insurance – Claims and Expenses, 2015–2020
Table 51: Botswanan Non-Life Insurance – Assets and Investments, 2011–2015
Table 52: Botswanan Non-Life Insurance – Assets and Investments, 2015–2020
Table 53: Botswanan Non-Life Insurance – Property Insurance, 2011–2015
Table 54: Botswanan Non-Life Insurance – Property Insurance, 2015–2020
Table 55: Botswanan Non-Life Insurance – Property Insurance by Product, 2011–2015
Table 56: Botswanan Non-Life Insurance – Property Insurance by Product, 2015–2020
Table 57: Botswanan Non-Life Insurance – Motor Insurance, 2011–2015
Table 58: Botswanan Non-Life Insurance – Motor Insurance, 2015–2020
Table 59: Botswanan Non-Life Insurance – Liability Insurance, 2011–2015
Table 60: Botswanan Non-Life Insurance – Liability Insurance, 2015–2020
Table 61: Botswanan Non-Life Insurance – Marine, Aviation and Transit Insurance, 2011–2015
Table 62: Botswanan Non-Life Insurance – Marine, Aviation and Transit Insurance, 2015–2020
Table 63: Botswanan Personal Accident and Health Insurance – Policies and Premium, 2011–2015
Table 64: Botswanan Personal Accident and Health Insurance – Policies and Premium, 2015–2020
Table 65: Botswanan Personal Accident and Health Insurance – Claims and Expenses, 2011–2015
Table 66: Botswanan Personal Accident and Health Insurance – Claims and Expenses, 2015–2020
Table 67: Botswanan Personal Accident and Health Insurance – Assets and Investments, 2011–2015
Table 68: Botswanan Personal Accident and Health Insurance – Assets and Investments, 2015–2020
Table 69: Insurance Industry Definitions

List of Figures

Figure 1: Botswanan Real GDP (BWP Billion), 2011–2020
Figure 2: Botswana Unemployment Rate, 2011–2020
Figure 3: Botswanan Consumer Price Inflation (%), 2011–2020
Figure 4: Botswanan Current Account Balance as Percentage of GDP (%), 2011–2020
Figure 5: Botswanan (BWP-US$) Exchange Rate, 2011–2020
Figure 6: Botswanan Population by Age Group, 1990–2025
Figure 7: Botswanan Insurance Industry – Gross Written Premium by Segment, 2011–2020
Figure 8: Botswanan Insurance Industry – Total Assets by Segment (BWP Million), 2011–2020
Figure 9: Botswanan Insurance Industry – Total Investment Income by Segment (BWP Million), 2011–2020
Figure 10: Botswanan Individual Life Insurance – Gross Written Premium (BWP Billion), 2011–2020
Figure 11: Botswanan Property Insurance – Gross Written Premium (BWP Million), 2011–2020
Figure 12: Botswanan Motor Insurance – Gross Written Premium (BWP Million), 2011–2020
Figure 13: Botswanan Liability Insurance – Gross Written Premium (BWP Million), 2011–2020
Figure 14: Botswanan Marine, Aviation and Transit Insurance – Gross Written Premium (BWP Million), 2011–2020
Figure 15: Botswanan Personal Accident Insurance – Gross Written Premium (BWP Million), 2011–2020
Figure 16: BWP Reinsurance – Total Premium Accepted (BWP Billion), 2011–2020
Figure 17: Botswanan Reinsurance – Premium Ceded by Insurance Segment (BWP Million), 2011–2020
Figure 18: Botswanan Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2020
Figure 19: Botswanan Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2020
Figure 20: Botswanan Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2020
Figure 21: Botswanan – Frequency of Hazards by Type, 1990–2014
Figure 22: Botswanan Insurance Industry – Market Shares of Leading Life Insurers (%), 2015
Figure 23: Botswanan Insurance Industry – Market Shares of Leading Non-Life Insurers (%), 2015
Figure 24: Botswana – Insurance Supervision and Control at Various Levels
Figure 25: Botswana – Insurance Regulatory Frameworks for Company Registration and Operation