The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2017

Published: Apr, 2014 | Pages: 123 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The report provides in-depth industry analysis, information and insights of the insurance industry in Burkina Faso, including:
The Burkinabe insurance industry's growth prospects by insurance segments and categories
The competitive landscape in the Burkinabe insurance industry
The current trends and drivers of the Burkinabe insurance industry
Challenges facing the Burkinabe insurance industry

Summary
Burkina Faso has a small insurance industry that was liberalized in 1978. Prior to liberalization, there was only one state-owned insurance company: Society National Insurance and Reinsurance (SONAR). Following the liberalization, Union des Assurances du Burkina Vie (UAB) and AGF Burkina Assurances began operations.
Foreign-based insurance companies entered the industry in the 1990s. The country's economy is heavily reliant on exports and its main export partners are Switzerland, China, Belgium, Nigeria and Singapore. The global financial crisis in 2008 caused a decline in exports from the country, which adversely affected the industry due to its negative economic impact. However, the country's insurance industry exhibited gradual growth in line with the economy, the gross written premium increased by 11.9% in 2012 and 9.6% in 2013. The industry is projected to benefit from an estimated GDP growth rate of 7.9% in 2014 (according to IMF).
Scope
This report provides a comprehensive analysis of the insurance industry in Burkina Faso:
It provides historical values for the Burkinabe insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period.
It offers a detailed analysis of the key segments and categories in the Burkinabe insurance industry, along with forecasts until 2017.
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 Burkina Faso, 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 Burkinabe insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Burkinabe insurance industry.
Assess the competitive dynamics in the Burkinabe insurance industry.
Identify the growth opportunities and market dynamics within key segments.
Gain insights into key regulations governing the Burkinabe insurance industry and its impact on companies and the industry's future.
Key Highlights
In terms of gross written premium, Burkina Faso has one of the smallest insurance industries in West Africa
There were only 11 insurance companies and one reinsurance firm operating in the country, of which seven operated in the non-life insurance segment and four in the life insurance segment
The higher interest rate of life insurance savings in comparison to general banking and additional facilities such as life cover encouraged the population to invest in individual life insurance products
During the review period, the non-life segment's written premium increased at a CAGR of 8.0%
The industry comprises both domestic and foreign insurance companies
During the review period, the industry was led by domestic companies

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Burkibe Insurance Industry Overview
3.1 Burki Faso Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
4 Industry Segmentation
4.1 Life Insurance
4.1.1 Individual endowment insurance
4.1.2 Individual marriage and birth insurance
4.1.3 Group 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 Competitive Landscape
5.1 Overview
5.2 Leading Companies
5.2.1 Union of Burki Insurance - company overview
5.2.2 Society tiol Insurance and Reinsurance - company overview
5.2.3 General Insurance - company overview
5.2.4 Allianz Insurance Burki - company overview
5.2.5 Coli SA - company overview
5.2.6 Rayl Assurance SA - company overview
6 Economic Indicators
6.1 GDP at Constant Prices (US$)
6.2 GDP per Capita at Constant Prices (US$)
6.3 GDP at Current Prices (US$)
6.4 GDP per Capita at Current Prices (US$)
6.5 Inflation Rate
6.6 Size of Labor Force
6.7 Total Internet Subscribers
6.8 Total Population
6.9 Annual Average Exchange Rate EUR-US$
7 Appendix
7.1 Methodology
7.2 Contact Timetric
7.3 About Timetric
7.4 Timetric's Services
7.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Burkibe Insurance - Overall Written Premium by Segment (XOF Billion), 2009-2013
Table 3: Burkibe Insurance - Overall Written Premium by Segment (US$ Million), 2009-2013
Table 4: Burkibe Insurance - Overall Written Premium by Segment (XOF Billion), 2013-2018
Table 5: Burkibe Insurance - Overall Written Premium by Segment (US$ Million), 2013-2018
Table 6: Burkibe Insurance - Segmentation (Percentage Share), 2009-2018
Table 7: Burkibe Life Insurance - Written Premium by Category (XOF Billion), 2009-2013
Table 8: Burkibe Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 9: Burkibe Life Insurance - Written Premium by Category (XOF Billion), 2013-2018
Table 10: Burkibe Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 11: Burkibe Life Insurance - Paid Claims (XOF Billion), 2009-2013
Table 12: Burkibe Life Insurance - Paid Claims (XOF Billion), 2013-2018
Table 13: Burkibe Life Insurance - Incurred Loss (XOF Billion), 2009-2013
Table 14: Burkibe Life Insurance - Incurred Loss (XOF Billion), 2013-2018
Table 15: Burkibe Life Insurance - Loss Ratio (%), 2009-2013
Table 16: Burkibe Life Insurance - Loss Ratio (%), 2013-2018
Table 17: Burkibe Life Insurance - Combined Ratio (%), 2009-2013
Table 18: Burkibe Life Insurance - Combined Ratio (%), 2013-2018
Table 19: Burkibe Life Insurance - Total Assets (XOF Billion), 2009-2013
Table 20: Burkibe Life Insurance - Total Assets (XOF Billion), 2013-2018
Table 21: Burkibe Life Insurance - Total Investment Income (XOF Billion), 2009-2013
Table 22: Burkibe Life Insurance - Total Investment Income (XOF Billion), 2013-2018
Table 23: Burkibe Life Insurance - Retentions (XOF Billion), 2009-2013
Table 24: Burkibe Life Insurance - Retentions (XOF Billion), 2013-2018
Table 25: Burkibe Individual Endowment Insurance - Written Premium (XOF Billion), 2009-2013
Table 26: Burkibe Individual Endowment Insurance - Written Premium (XOF Billion), 2013-2018
Table 27: Burkibe Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2009-2013
Table 28: Burkibe Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2013-2018
Table 29: Burkibe Group Life Insurance - Written Premium (XOF Billion), 2009-2013
Table 30: Burkibe Group Life Insurance - Written Premium (XOF Billion), 2013-2018
Table 31: Burkibe Non-Life Insurance - Written Premium by Category (XOF Billion), 2009-2013
Table 32: Burkibe Non-Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 33: Burkibe Non-Life Insurance - Written Premium by Category (XOF Billion), 2013-2018
Table 34: Burkibe Non-Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 35: Burkibe Non-Life Insurance - Paid Claims (XOF Billion), 2009-2013
Table 36: Burkibe Non-Life Insurance - Paid Claims (XOF Billion), 2013-2018
Table 37: Burkibe Non-Life Insurance - Incurred Loss (XOF Billion), 2009-2013
Table 38: Burkibe Non-Life Insurance - Incurred Loss (XOF Billion), 2013-2018
Table 39: Burkibe Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 40: Burkibe Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 41: Burkibe Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 42: Burkibe Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 43: Burkibe Non-Life Insurance - Total Assets (XOF Billion), 2009-2013
Table 44: Burkibe Non-Life Insurance - Total Assets (XOF Billion), 2013-2018
Table 45: Burkibe Non-Life Insurance - Total Investment Income (XOF Billion), 2009-2013
Table 46: Burkibe Non-Life Insurance - Total Investment Income (XOF Billion), 2013-2018
Table 47: Burkibe Non-Life Insurance - Retentions (XOF Billion), 2009-2013
Table 48: Burkibe Non-Life Insurance - Retentions (XOF Billion), 2013-2018
Table 49: Burkibe Property Insurance - Written Premium (XOF Billion), 2009-2013
Table 50: Burkibe Property Insurance - Written Premium (XOF Billion), 2013-2018
Table 51: Burkibe Motor Insurance - Written Premium (XOF Billion), 2009-2013
Table 52: Burkibe Motor Insurance - Written Premium (XOF Billion), 2013-2018
Table 53: Burkibe Liability Insurance - Written Premium (XOF Billion), 2009-2013
Table 54: Burkibe Liability Insurance - Written Premium (XOF Billion), 2013-2018
Table 55: Burkibe Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2009-2013
Table 56: Burkibe Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2013-2018
Table 57: Burkibe Persol Accident and Health Insurance - Paid Claims (XOF Billion), 2009-2013
Table 58: Burkibe Persol Accident and Health Insurance - Paid Claims (XOF Billion), 2013-2018
Table 59: Burkibe Persol Accident and Health Insurance - Incurred Loss (XOF Billion), 2009-2013
Table 60: Burkibe Persol Accident and Health Insurance - Incurred Loss (XOF Billion), 2013-2018
Table 61: Burkibe Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 62: Burkibe Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 63: Burkibe Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 64: Burkibe Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 65: Burkibe Persol Accident and Health Insurance - Total Assets (XOF Billion), 2009-2013
Table 66: Burkibe Persol Accident and Health Insurance - Total Assets (XOF Billion), 2013-2018
Table 67: Burkibe Persol Accident and Health Insurance - Total Investment Income (XOF Billion), 2009-2013
Table 68: Burkibe Persol Accident and Health Insurance - Total Investment Income (XOF Billion), 2013-2018
Table 69: Burkibe Persol Accident and Health Insurance - Retentions (XOF Billion), 2009-2013
Table 70: Burkibe Persol Accident and Health Insurance - Retentions (XOF Billion), 2013-2018
Table 71: Burkibe Reinsurance Ceded by Insurance Segment (XOF Billion), 2009-2013
Table 72: Burkibe Reinsurance Ceded by Insurance Segment (US$ Million), 2009-2013
Table 73: Burkibe Reinsurance Ceded by Insurance Segment (XOF Billion), 2013-2018
Table 74: Burkibe Reinsurance Ceded by Insurance Segment (US$ Million), 2013-2018
Table 75: Burkibe Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 76: Burkibe Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 77: Burkibe Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 78: Burkibe Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 79: Burkibe Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 80: Burkibe Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 81: Burkibe Life Insurance - Market Shares (%), 2010 and 2011
Table 82: Burkibe Non-Life Insurance Segment- Market Shares (%), 2010 and 2011
Table 83: Union of Burki Insurance, Main Products
Table 84: Union of Burki Insurance, Key Employee
Table 85: Society tiol Insurance, Main Products
Table 86: Society tiol Insurance, Key Employee
Table 87: General Insurance, Main Products
Table 88: General Insurance, Key Employee
Table 89: Allianz Burki Faso, Main Products
Table 90: Allianz Burki Faso, Key Employees
Table 91: Coli SA, Main Products
Table 92: Coli SA, Key Employee
Table 93: Rayl Assurances SA, Main Products
Table 94: Rayl Assurances SA, Key Employees