The Insurance Industry in the Republic of the Congo, Key Trends and Opportunities to 2018

Published: Oct, 2014 | Pages: 136 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
The report provides in-depth industry analysis, information and insights into the insurance industry in the Republic of the Congo, including:
The Congolese insurance industry's growth prospects by insurance segment and category
The competitive landscape in the Congolese insurance industry
The current trends and drivers of the Congolese insurance industry
Challenges facing the Congolese insurance industry
The detailed regulatory framework of the Congolese insurance industry

Summary
The insurance industry in the Republic of the Congo (the Congo) is relatively small and underdeveloped, and had only five operational companies as of 2011. Key factors affecting the industry's performance during the review period include poverty and the global economic crisis. According to the International Monetary Fund (IMF), the poverty rate stood at 46.5% in 2011. The industry driver is the non-life segment, which accounted for 84.6% of the total gross written premium in 2013. The Conference Internationale des Marches d'Assurances (CIMA), which was established on July 10, 1992, is the official industry regulator.
Scope
This report provides a comprehensive analysis of the insurance industry in the Republic of the Congo:
It provides historical values for the Congolese 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 Congolese 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 the Republic of the Congo, 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 Congolese insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Congolese insurance industry.
Assess the competitive dynamics in the Congolese insurance industry.
Identify the growth opportunities and market dynamics in key segments.
Gain insights into key regulations governing the Congolese insurance industry and its impact on companies and the industry's future.
Key Highlights
The insurance industry in the Republic of the Congo (the Congo) is relatively small and underdeveloped, and had only five operational companies as of 2011.
Key factors affecting the industry's performance during the review period include poverty and the global economic crisis.
Life insurance continued to be the fastest growing segment, with a CAGR of 30.3% during the review period.
The Congo is one of the leading oil producers in Sub-Saharan Africa, and has large reserves of associated natural gas.
To reform insurance operations, the government has defined a plan wherein the public operator ? Assurances et Reassurances du Congo (ARC) ? has been restructured in line with the CIMA code and Regional Reinsurance Company rules.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Congolese Insurance Industry Overview
3.1 Congolese Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
3.4 Regulation
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
5.4 Supervision and Control
5.4.1 Intertiol Association of Insurance Supervisors
5.4.2 Commission Regiol des Assurances (CRCA)
5.4.3 Direction tiole des Assurances (D)
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 Assurances Generales Du Congo-Vie (AGC-Vie) - company overview
6.2.2 NSIA Vie Congo - company overview
6.2.3 Assurances Generales Du Congo - company overview
6.2.4 Assurances ET Reassurances Du Congo - company overview
6.2.5 Nouvelle Societe Interafricaine d'Assurances - company overview
7 Macroeconomic Indicators
7.1 GDP at constant prices (US$ Billion)
7.2 GDP per capita at current prices (US$)
7.3 GDP at current prices (US$ Billion)
7.4 Construction output at current prices (US$ Million)
7.5 Mining, Manufacturing and Utilities output at current prices (US$ Billion)
7.6 Exports 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: Congolese Insurance Overall Written Premium by Segment (XAF Billion), 2009-2013
Table 3: Congolese Insurance Overall Written Premium by Segment (US$ Million), 2009-2013
Table 4: Congolese Insurance Overall Written Premium by Segment (XAF Billion), 2013-2018
Table 5: Congolese Insurance Overall Written Premium by Segment (US$ Million), 2013-2018
Table 6: Congolese Insurance Segmentation (% Share), 2009-2018
Table 7: Congolese Life Insurance - Gross Written Premium (XAF Billion), 2009-2013
Table 8: Congolese Life Insurance - Gross Written Premium (XAF Billion), 2013-2018
Table 9: Congolese Life Insurance - Paid Claims (XAF Billion), 2009-2013
Table 10: Congolese Life Insurance - Paid Claims (XAF Billion), 2013-2018
Table 11: Congolese Life Insurance - Incurred Loss (XAF Billion), 2009-2013
Table 12: Congolese Life Insurance - Incurred Loss (XAF Billion), 2013-2018
Table 13: Congolese Life Insurance - Loss Ratio (%), 2009-2013
Table 14: Congolese Life Insurance - Loss Ratio (%), 2013-2018
Table 15: Congolese Life Insurance - Combined Ratio (%), 2009-2013
Table 16: Congolese Life Insurance - Combined Ratio (%), 2013-2018
Table 17: Congolese Life Insurance - Total Investment Income (XAF Million), 2009-2013
Table 18: Congolese Life Insurance - Total Investment Income (XAF Million), 2013-2018
Table 19: Congolese Life Insurance - Retentions (XAF Billion), 2009-2013
Table 20: Congolese Life Insurance - Retentions (XAF Billion), 2013-2018
Table 21: Congolese Non-Life Insurance - Written Premium by Category (XAF Billion), 2009-2013
Table 22: Congolese Non-Life Insurance - Written Premium by Category (US$ Million), 2009-2013
Table 23: Congolese Non-Life Insurance - Written Premium by Category (XAF Billion), 2013-2018
Table 24: Congolese Non-Life Insurance - Written Premium by Category (US$ Million), 2013-2018
Table 25: Congolese Non-Life Insurance - Paid Claims (XAF Billion), 2009-2013
Table 26: Congolese Non-Life Insurance - Paid Claims (XAF Billion), 2013-2018
Table 27: Congolese Non-Life Insurance - Incurred Loss (XAF Billion), 2009-2013
Table 28: Congolese Non-Life Insurance - Incurred Loss (XAF Billion), 2013-2018
Table 29: Congolese Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 30: Congolese Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 31: Congolese Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 32: Congolese Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 33: Congolese Non-Life Insurance - Total Investment Income (XAF Million), 2009-2013
Table 34: Congolese Non-Life Insurance - Total Investment Income (XAF Billion), 2013-2018
Table 35: Congolese Non-Life Insurance - Retentions (XAF Billion), 2009-2013
Table 36: Congolese Non-Life Insurance - Retentions (XAF Billion), 2013-2018
Table 37: Congolese Property Insurance - Written Premium (XAF Billion), 2009-2013
Table 38: Congolese Property Insurance - Written Premium (XAF Billion), 2013-2018
Table 39: Congolese Motor Insurance - Written Premium (XAF Billion), 2009-2013
Table 40: Congolese Motor Insurance - Written Premium (XAF Billion), 2013-2018
Table 41: Congolese Liability Insurance - Written Premium (XAF Billion), 2009-2013
Table 42: Congolese Liability Insurance - Written Premium (XAF Billion), 2013-2018
Table 43: Congolese Marine, Aviation and Transit Insurance - Written Premium (XAF Billion), 2009-2013
Table 44: Congolese Marine, Aviation and Transit Insurance - Written Premium (XAF Billion), 2013-2018
Table 45: Congolese Persol Accident and Health Insurance - Gross Written Premium (XAF Billion), 2009-2013
Table 46: Congolese Persol Accident and Health Insurance - Gross Written Premium (XAF Billion), 2013-2018
Table 47: Congolese Persol Accident and Health Insurance - Paid Claims (XAF Billion), 2009-2013
Table 48: Congolese Persol Accident and Health Insurance - Paid Claims (XAF Billion), 2013-2018
Table 49: Congolese Persol Accident and Health Insurance - Incurred Loss (XAF Billion), 2009-2013
Table 50: Congolese Persol Accident and Health Insurance - Incurred Loss (XAF Billion), 2013-2018
Table 51: Congolese Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 52: Congolese Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 53: Congolese Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 54: Congolese Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 55: Congolese Persol Accident and Health Insurance - Total Investment Income (XAF Million), 2009-2013
Table 56: Congolese Persol Accident and Health Insurance - Total Investment Income (XAF Million), 2013-2018
Table 57: Congolese Persol Accident and Health Insurance - Retentions (XAF Billion), 2009-2013
Table 58: Congolese Persol Accident and Health Insurance - Retentions (XAF Billion), 2013-2018
Table 59: Congolese Reinsurance Ceded by Insurance Industry (XAF Billion), 2009-2013
Table 60: Congolese Reinsurance Ceded by Insurance Industry (US$ Million), 2009-2013
Table 61: Congolese Reinsurance Ceded by Insurance Industry (XAF Billion), 2013-2018
Table 62: Congolese Reinsurance Ceded by Insurance Industry (US$ Billion), 2013-2018
Table 63: Congolese Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 64: Congolese Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 65: Congolese Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 66: Congolese Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 67: Congolese Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 68: Congolese Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 69: Congo - Intermediary Remuneration Rates
Table 70: Congo - Life Insurance Regulatory Framework
Table 71: Congo - Property Insurance Regulatory Framework
Table 72: Congo - Motor Insurance Regulatory Framework
Table 73: Congo - Liability Insurance Regulatory Framework
Table 74: Congo - Insurance Premium Tax Rates
Table 75: Congo - Corporate Tax Rates for the Fincial Year 2013
Table 76: Assurances Generales Du Congo-Vie (AGC-Vie), Main Products
Table 77: Assurances Generales Du Congo-Vie (AGC-Vie), Key Employees
Table 78: NSIA Vie Congo, Main Products
Table 79: NSIA Vie Congo, Key Employees
Table 80: Assurances Generales Du Congo, Main Products
Table 81: Assurances Generales Du Congo, Key Employees
Table 82: Assurances ET Reassurances Du Congo, Main Products
Table 83: Assurances ET Reassurances Du Congo, Key Employees
Table 84: Nouvelle Societe Interafricaine d'Assurances, Main Products
Table 85: Nouvelle Societe Interafricaine d'Assurances, Key Employees