The Insurance Industry in the Central African Republic, Key Trends and Opportunities to 2018

Published: May, 2014 | Pages: 128 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

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

Summary
The Central African Republic insurance industry grew at a compound annual growth rate (CAGR) of 10.8% during the review period (2009-2013). The increase was partly a consequence of stable economic development, the nation's expanding mining industry, and various infrastructure projects centering around the laying of fiber-optic cables, the modernizing transport routes and improving energy capacity. Growth in the life insurance segment, which recorded a review-period CAGR of 18.6%, also supported the growth of the Central African Republic insurance industry during the review period. However, the industry is relatively small on a global scale. Insurance penetration in Africa was low, at 1.6% in 2012. For the Central African Republic, however, the figure stood at 0.37% in 2012 and 0.44% in 2013, compared to the global average of 7.0% in 2012. Around 90% of the African population remains uninsured, which provides immense growth potential and foreign investment opportunities. This, combined with stable economic development of the Central African Republic region, is projected to support the development of the industry over the forecast period (2013-2018).
Scope
This report provides a comprehensive analysis of the insurance industry in Central African Republic:
It provides historical values for the Central African Republic 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 Central African Republic 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 Central African Republic, 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 Central African Republic insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Central African Republic insurance industry.
Assess the competitive dynamics in the Central African Republic insurance industry.
Identify the growth opportunities and market dynamics within key segments.
Gain insights into key regulations governing the Central African Republic insurance industry and its impact on companies and the industry's future.
Key Highlights
The Central African Republic insurance industry grew at a compound annual growth rate (CAGR) of 10.8% during the review period.
The country's low insurance penetration is expected to encourage new insurers to invest in the Central African Republic.
The Central African Republic's insurance industry is highly underdeveloped, and is dominated by non-life providers.
Non-life insurance accounted for 87.6% of the industry's total written premium in 2013, and is expected to lead the industry over the forecast period.
Distribution is primarily carried out through general agents, brokers and self-employed agents.
Levels of competition were low during the review period, with only two insurance providers.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Central African Republic Insurance Industry Overview
3.1 Central African Republic 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 Motor third-party liability insurance
5.3.2 Professiol indemnity insurance for insurance intermediaries
5.3.3 Worker's compensation
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 Services Centraux (DSC)
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 Union des Assurances Centrafricaines - company overview
6.2.2 Allianz Centrafrique Assurances - company overview
7 Economic Indicators
7.1 GDP at Constant Prices (US$)
7.2 GDP per Capita at Constant Prices (US$)
7.3 GDP at Current Prices (US$)
7.4 Inflation Rate (%)
7.5 Exports as a Percentage of GDP
7.6 Imports as a Percentage of GDP
7.7 Total 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: Central African Republic Insurance - Overall Written Premium by Segment (XAF Million), 2009-2013
Table 3: Central African Republic Insurance - Overall Written Premium by Segment (US$ Million), 2009-2013
Table 4: Central African Republic Insurance - Overall Written Premium by Segment (XAF Million), 2013-2018
Table 5: Central African Republic Insurance - Overall Written Premium by Segment (USD Million), 2013-2018
Table 6: Central African Republic Insurance - Segmentation (Percentage Share), 2009-2018
Table 7: Central African Republic Life Insurance - Written Premium (XAF Million), 2009-2013
Table 8: Central African Republic Life Insurance - Written Premium (XAF Million), 2013-2018
Table 9: Central African Republic Life Insurance - Paid Claims (XAF Million), 2009-2013
Table 10: Central African Republic Life Insurance - Paid Claims (XAF Million), 2013-2018
Table 11: Central African Republic Life Insurance - Incurred Loss (XAF Million), 2009-2013
Table 12: Central African Republic Life Insurance - Incurred Loss (XAF Million), 2013-2018
Table 13: Central African Republic Life Insurance - Loss Ratio (%), 2009-2013
Table 14: Central African Republic Life Insurance - Loss Ratio (%), 2013-2018
Table 15: Central African Republic Life Insurance - Combined Ratio (%), 2009-2013
Table 16: Central African Republic Life Insurance - Combined Ratio (%), 2013-2018
Table 17: Central African Republic Life Insurance - Total Investment Income (XAF Million), 2009-2013
Table 18: Central African Republic Life Insurance - Total Investment Income (XAF Million), 2013-2018
Table 19: Central African Republic Life Insurance - Retentions (XAF Million), 2009-2013
Table 20: Central African Republic Life Insurance - Retentions (XAF Million), 2013-2018
Table 21: Central African Republic Non-Life Insurance - Written Premium by Category (XAF Million), 2009-2013
Table 22: Central African Republic Non-Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 23: Central African Republic Non-Life Insurance - Written Premium by Category (XAF Million), 2013-2018
Table 24: Central African Republic Non-Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 25: Central African Republic Non-Life Insurance - Paid Claims (XAF Million), 2009-2013
Table 26: Central African Republic Non-Life Insurance - Paid Claims (XAF Million), 2013-2018
Table 27: Central African Republic Non-Life Insurance - Incurred Loss (XAF Million), 2009-2013
Table 28: Central African Republic Non-Life Insurance - Incurred Loss (XAF Million), 2013-2018
Table 29: Central African Republic Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 30: Central African Republic Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 31: Central African Republic Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 32: Central African Republic Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 33: Central African Republic Non-Life Insurance - Total Investment Income (XAF Million), 2009-2013
Table 34: Central African Republic Non-Life Insurance - Total Investment Income (XAF Million), 2013-2018
Table 35: Central African Republic Non-Life Insurance - Retentions (XAF Million), 2009-2013
Table 36: Central African Republic Non-Life Insurance - Retentions (XAF Million), 2013-2018
Table 37: Central African Republic Property Insurance - Written Premium (XAF Million), 2009-2013
Table 38: Central African Republic Property Insurance - Written Premium (XAF Million), 2013-2018
Table 39: Central African Republic Motor Insurance - Written Premium (XAF Million), 2009-2013
Table 40: Central African Republic Motor Insurance - Written Premium (XAF Million), 2013-2018
Table 41: Central African Republic Liability Insurance - Written Premium (XAF Million), 2009-2013
Table 42: Central African Republic Liability Insurance - Written Premium (XAF Million), 2013-2018
Table 43: Central African Republic Marine, Aviation and Transit Insurance - Written Premium (XAF Million), 2009-2013
Table 44: Central African Republic Marine, Aviation and Transit Insurance - Written Premium (XAF Million), 2013-2018
Table 45: Central African Republic Persol Accident and Health Insurance - Written Premium (XAF Million), 2009-2013
Table 46: Central African Republic Persol Accident and Health Insurance - Written Premium (XAF Million), 2013-2018
Table 47: Central African Republic Persol Accident and Health Insurance - Paid Claim (XAF Million), 2009-2013
Table 48: Central African Republic Persol Accident and Health Insurance - Paid Claim (XAF Million), 2013-2018
Table 49: Central African Republic Persol Accident and Health Insurance - Incurred Loss (XAF Million), 2009-2013
Table 50: Central African Republic Persol Accident and Health Insurance - Incurred Loss (XAF Million), 2013-2018
Table 51: Central African Republic Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 52: Central African Republic Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 53: Central African Republic Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 54: Central African Republic Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 55: Central African Republic Persol Accident and Health Insurance - Total Investment Income (XAF Million), 2009-2013
Table 56: Central African Republic Persol Accident and Health Insurance - Total Investment Income (XAF Million), 2013-2018
Table 57: Central African Republic Persol Accident and Health Insurance - Retentions (XAF Million), 2009-2013
Table 58: Central African Republic Persol Accident and Health Insurance - Retentions (XAF Million), 2013-2018
Table 59: Central African Republic Reinsurance Ceded by Insurance Segment (XAF Million), 2009-2013
Table 60: Central African Republic Reinsurance Ceded by Insurance Segment (US$ Million), 2009-2013
Table 61: Central African Republic Reinsurance Ceded by Insurance Segment (XAF Million), 2013-2018
Table 62: Central African Republic Reinsurance Ceded by Insurance Segment (US$ Million), 2013-2018
Table 63: Central African Republic Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 64: Central African Republic Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 65: Central African Republic Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 66: Central African Republic Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 67: The Central African Republic - Intermediary Remuneration Rates
Table 68: The Central African Republic - Life Insurance Regulatory Framework
Table 69: The Central African Republic - Property Insurance Regulatory Framework
Table 70: The Central African Republic - Motor Insurance Regulatory Framework
Table 71: The Central African Republic - Liability Insurance Regulatory Framework
Table 72: The Central African Republic - Insurance Premium Tax Rates
Table 73: The Central African Republic - Corporate Tax Rates for the Fincial Year 2013
Table 74: Central African Republic Insurance - Industry Shares, 2010 and 2011
Table 75: Union des Assurances Centrafricaines Main Products
Table 76: Allianz Centrafrique Assurances, Main Products