The Insurance Industry in Cote dIvoire, Key Trends and Opportunities to 2018

Published: May, 2014 | Pages: 152 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The report provides in-depth industry analysis, information and insights of the insurance industry in Cote d'Ivoire, including:
The Ivoirian insurance industry's growth prospects by insurance segments and categories
The competitive landscape in the Ivoirian insurance industry
The current trends and drivers of the Ivoirian insurance industry
Challenges facing the Ivoirian insurance industry
The detailed regulatory framework of the Ivoirian insurance industry

Summary
The Ivoirian insurance industry grew in terms of written premium value at a compound annual growth rate (CAGR) of 3.9% during the review period (2009-2013). The increase was due to the strong performance of the life segment, which registered a CAGR of 6.0% during the review period. The industry is projected to grow at a CAGR of 4.5% over the forecast period (2013-2018). The expanding life insurance segment, combined with strength in country's economy, is expected to contribute to the growth of the Ivoirian insurance industry over the forecast period.
Scope
This report provides a comprehensive analysis of the insurance industry in Cote d'Ivoire:
It provides historical values for the Ivoirian 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 Ivoirian 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 Cote d'Ivoire, 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 Ivoirian insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Ivoirian insurance industry.
Assess the competitive dynamics in the Ivoirian insurance industry.
Identify the growth opportunities and market dynamics within key segments.
Gain insights into key regulations governing the Ivoirian insurance industry and its impact on companies and the industry's future.
Key Highlights
The insurance industry comprises of 29 insurers in total as of 2012.
Cote d'Ivoire allows 100% foreign direct investment (FDI) in the insurance industry, and the entry of foreign companies increased competitiveness.
The increase in life expectancy of the population during the review period encouraged demand for health insurance products.
Positive economic growth is expected to encourage insurance sales.
Cote d'Ivoire's rising population spurred the demand for life insurance products during the review period.
Increase in working age population is likely to create more demand for investment-linked insurance products such as unit-linked and saving products.
High inflation rate affected insurance sales during the review period.
A high combined ratio is one of the key concerns for life insurance companies in Cote d'Ivoire.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Ivoirian Insurance Industry Overview
3.1 Ivoirian Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
3.4 Regulations
4 Industry Segmentation
4.1 Life Insurance
4.1.1 Individual life insurance
4.1.2 Individual Marriage and Birth insurance
4.1.3 Supplementary insurance
4.1.4 Other insurance
4.1.5 Group Life
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 Motor third-party liability insurance
5.3.2 Professiol indemnity insurance for insurance intermediaries
5.4 Supervision and Control
5.4.1 Intertiol Association of Insurance Supervisors
5.4.2 Commission Regiol des Assurances (CRCA)
5.4.3 Direction des Assurances (DA)
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 courts
5.8.3 Altertive dispute resolution (ADR)
6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 Coli SA - company overview
6.2.2 Union des Assurances de Cote d'Ivoire Vie - company overview
6.2.3 Nouvelle Societe Interafricaine D'assurances - company overview
6.2.4 Coli Vie - company overview
6.2.5 NSIA Vie Cote d'Ivoire - company overview
7 Macroeconomic 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 Rate
7.5 Life Expectancy
7.6 Labor Force
7.7 Total Number of Households
7.8 Total Number of Internet Users
7.9 Total Population
7.1 Urban and Rural Population
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: Ivoirian Insurance Overall Written Premium by Segment (XOF Billion), 2009-2013
Table 3: Ivoirian Insurance Overall Written Premium by Segment (US$ Million), 2009-2013
Table 4: Ivoirian Insurance Overall Written Premium by Segment (XOF Billion), 2013-2018
Table 5: Ivoirian Insurance Overall Written Premium by Segment (US$ Million), 2013-2018
Table 6: Ivoirian Insurance Segmentation (Percentage Share), 2009-2018
Table 7: Ivoirian Life Insurance - Written Premium by Category (XOF Billion), 2009-2013
Table 8: Ivoirian Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 9: Ivoirian Life Insurance - Written Premium by Category (XOF Billion), 2013-2018
Table 10: Ivoirian Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 11: Ivoirian Life Insurance - Paid Claims (XOF Billion), 2009-2013
Table 12: Ivoirian Life Insurance - Paid Claims (XOF Billion), 2013-2018
Table 13: Ivoirian Life Insurance - Incurred Loss (XOF Billion), 2009-2013
Table 14: Ivoirian Life Insurance - Incurred Loss (XOF Billion), 2013-2018
Table 15: Ivoirian Life Insurance - Loss Ratio (%), 2009-2013
Table 16: Ivoirian Life Insurance - Loss Ratio (%), 2013-2018
Table 17: Ivoirian Life Insurance - Combined Ratio (%), 2009-2013
Table 18: Ivoirian Life Insurance - Combined Ratio (%), 2013-2018
Table 19: Ivoirian Life Insurance - Total Investment Income (XOF Billion), 2009-2013
Table 20: Ivoirian Life Insurance - Total Investment Income (XOF Billion), 2013-2018
Table 21: Ivoirian Life Insurance - Retentions (XOF Billion), 2009-2013
Table 22: Ivoirian Life Insurance - Retentions (XOF Billion), 2013-2018
Table 23: Ivoirian Individual Life Insurance - Written Premium (XOF Billion), 2009-2013
Table 24: Ivoirian Individual Life Insurance - Written Premium (XOF Billion), 2013-2018
Table 25: Ivoirian Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2009-2013
Table 26: Ivoirian Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2013-2018
Table 27: Ivoirian Supplementary Insurance - Written Premium (XOF Million), 2009-2013
Table 28: Ivoirian Supplementary Insurance - Written Premium (XOF Million), 2013-2018
Table 29: Ivoirian Other Insurance - Written Premium (XOF Billion), 2009-2013
Table 30: Ivoirian Other Insurance - Written Premium (XOF Billion), 2013-2018
Table 31: Ivoirian Group Life Insurance - Written Premium (XOF Billion), 2009-2013
Table 32: Ivoirian Group Life Insurance - Written Premium (XOF Billion), 2013-2018
Table 33: Ivoirian Non-Life Insurance - Written Premium by Category (XOF Billion), 2009-2013
Table 34: Ivoirian Non-Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 35: Ivoirian Non-Life Insurance - Written Premium by Category (XOF Billion), 2013-2018
Table 36: Ivoirian Non-Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 37: Ivoirian Non-Life Insurance - Paid Claims (XOF Billion), 2009-2013
Table 38: Ivoirian Non-Life Insurance - Paid Claims (XOF Billion), 2013-2018
Table 39: Ivoirian Non-Life Insurance - Incurred Loss (XOF Billion), 2009-2013
Table 40: Ivoirian Non-Life Insurance - Incurred Loss (XOF Billion), 2013-2018
Table 41: Ivoirian Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 42: Ivoirian Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 43: Ivoirian Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 44: Ivoirian Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 45: Ivoirian Non-Life Insurance - Total Investment Income (XOF Billion), 2009-2013
Table 46: Ivoirian Non-Life Insurance - Total Investment Income (XOF Billion), 2013-2018
Table 47: Ivoirian Non-Life Insurance - Retentions (XOF Billion), 2009-2013
Table 48: Ivoirian Non-Life Insurance - Retentions (XOF Billion), 2013-2018
Table 49: Ivoirian Property Insurance - Written Premium (XOF Billion), 2009-2013
Table 50: Ivoirian Property Insurance - Written Premium (XOF Billion), 2013-2018
Table 51: Ivoirian Motor Insurance - Written Premium (XOF Billion), 2009-2013
Table 52: Ivoirian Motor Insurance - Written Premium (XOF Billion), 2013-2018
Table 53: Ivoirian Liability Insurance - Written Premium (XOF Billion), 2009-2013
Table 54: Ivoirian Liability Insurance - Written Premium (XOF Billion), 2013-2018
Table 55: Ivoirian Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2009-2013
Table 56: Ivoirian Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2013-2018
Table 57: Ivoirian Persol Accident and Health Insurance - Written Premium (XOF Billion), 2009-2013
Table 58: Ivoirian Persol Accident and Health Insurance - Written Premium (XOF Billion), 2013-2018
Table 59: Ivoirian Persol Accident and Health Insurance - Paid Claim (XOF Billion), 2009-2013
Table 60: Ivoirian Persol Accident and Health Insurance - Paid Claim (XOF Billion), 2013-2018
Table 61: Ivoirian Persol Accident and Health Insurance - Incurred Loss (XOF Billion), 2009-2013
Table 62: Ivoirian Persol Accident and Health Insurance - Incurred Loss (XOF Billion), 2013-2018
Table 63: Ivoirian Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 64: Ivoirian Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 65: Ivoirian Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 66: Ivoirian Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 67: Ivoirian Persol Accident and Health Insurance - Total Investment Income (XOF Million), 2009-2013
Table 68: Ivoirian Persol Accident and Health Insurance - Total Investment Income (XOF Million), 2013-2018
Table 69: Ivoirian Persol Accident and Health Insurance - Retentions (XOF Billion), 2009-2013
Table 70: Ivoirian Persol Accident and Health Insurance - Retentions (XOF Billion), 2013-2018
Table 71: Ivoirian Reinsurance Ceded by Insurance Industry (XOF Billion), 2009-2013
Table 72: Ivoirian Reinsurance Ceded by Insurance Industry (US$ Million), 2009-2013
Table 73: Ivoirian Reinsurance Ceded by Insurance Industry (XOF Billion), 2013-2018
Table 74: Ivoirian Reinsurance Ceded by Insurance Industry (US$ Million), 2013-2018
Table 75: Ivoirian Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 76: Ivoirian Life Insurance - Percentage of Reinsurance Ceded (%),2013-2018
Table 77: Ivoirian Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 78: Ivoirian Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 79: Ivoirian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 80: Ivoirian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 81: Cote d'Ivoire - Insurance Intermediary Remuneration
Table 82: Cote d'Ivoire - Life Insurance Regulatory Framework
Table 83: Cote d'Ivoire - Property Insurance Regulatory Framework
Table 84: Cote d'Ivoire - Motor Insurance Regulatory Framework
Table 85: Cote d'Ivoire - Liability Insurance Regulatory Framework
Table 86: Cote d'Ivoire - Insurance Premium Tax Rates
Table 87: Cote d'Ivoire - Corporate Tax Rates for the Fincial Year 2013
Table 88: Ivoirian Insurance Industry - Market Share by Company, 2010 and 2011
Table 89: Coli SA, Main Products
Table 90: Coli SA, Key Employees
Table 91: Union des Assurances de Cote d'Ivoire Vie - Main Products
Table 92: Union des Assurances de Cote d'Ivoire Vie, Key Employees
Table 93: Nouvelle Societe Interafricaine D'assurances - Main Products
Table 94: Nouvelle Societe Interafricaine D'assurances, Key Employees
Table 95: Coli Vie - Main Products
Table 96: Coli Vie, Key Employees
Table 97: NSIA Vie Cote d'Ivoire - Main Products
Table 98: NSIA Vie Cote d'Ivoire, Key Employees