The Insurance Industry in the Republic of the Congo, Key Trends and Opportunities to 2021

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Published: June 30, 2017 Report Code: GD-IS1507MR-ST

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GlobalData’s 'The Insurance Industry in the Republic of the Congo, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Congolese 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 period (2012–2016) and forecast period (2016–2021).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Congolese economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’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 the Republic of the Congo:

• It provides historical values for the Congolese insurance industry for the report’s 2012–2016 review period, and projected figures for the 2016–2021 forecast period.

• It offers a detailed analysis of the key segments in the Congolese insurance industry, along with market forecasts until 2021.

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

• It analyzes the various distribution channels in the Republic of the Congo.

• It profiles the top insurance companies in the Republic of the Congo and outlines the key regulations affecting them.

Key Highlights

• In Feb 2017, Royal and Sun (RSA) collaborated with African insurance network Globus to offer services to customers with operations in five African countries, including the Republic of the Congo.

• In February 2016, China Road and Bridge Corporation (CRBC) signed a contract to build a new port in Pointe Noire.

• In May 2016, the CRCA issued a draft regulation on the e-distribution of insurance products in CIMA Member States.

Reasons to Buy

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

• Understand the demand-side dynamics, key market trends and growth opportunities in 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 their impact on companies and the industry's future.

Assurances et Réassurances du Congo,Assurances Générales du Congo,Nouvelle Société Interafricaine d’Assurances,Allianz Congo Assurances,Assurances Générales du Congo-Vie (AGC-Vie),NSIA Vie Congo

Table of Contents

1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHICS

4 INDUSTRY OUTLOOK

4.1 Industry Indicators

4.1.1 Gross written premium

4.1.2 Claims

4.1.3 Investments

5 LIFE INSURANCE OUTLOOK

5.1 Individual Life Insurance

5.1.1 Direct written premium

5.1.2 Penetration

5.2 Group Life Insurance

5.2.1 Direct written premium

5.2.2 Penetration

6 NON-LIFE INSURANCE OUTLOOK

6.1 Property Insurance

6.1.1 Direct written premium

6.1.2 Penetration

6.1.3 Profitability

6.2 Motor Insurance

6.2.1 Direct written premium

6.2.2 Penetration

6.2.3 Profitability

6.3 Liability Insurance

6.3.1 Direct written premium

6.3.2 Penetration

6.3.3 Profitability

6.4 Marine, Aviation and Transit Insurance

6.4.1 Direct written premium

6.4.2 Penetration

6.4.3 Profitability

7 PERSONAL ACCIDENT AND HEALTH INSURANCE OUTLOOK

7.1 Personal Accident and Health Insurance

7.1.1 Gross written premium

7.1.2 Penetration

7.1.3 Claims

7.1.4 Profitability

8 REINSURANCE OUTLOOK

8.1 Premium Ceded

9 DISTRIBUTION CHANNEL OUTLOOK

10 NATURAL AND MAN-MADE HAZARDS

10.1 Flooding

10.2 Epidemic

10.3 Exposure

11 COMPETITIVE LANDSCAPE

11.1 Company Profiles

11.1.1 Assurances et Réassurances du Congo – company overview

11.1.2 Assurances Générales du Congo – company overview

11.1.3 Nouvelle Société Interafricaine d’Assurances – company overview

11.1.4 Allianz Congo Assurances – company overview

11.1.5 Assurances Générales du Congo-Vie (AGC-Vie) – company overview

11.1.6 NSIA Vie – 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 Motor third-party liability insurance

12.4.2 Professional indemnity insurance for insurance intermediaries

12.5 Supervision and Control

12.5.1 International Association of Insurance Supervisors

12.5.2 Commission Regional des Assurances

12.5.3 Direction Nationales des Assurances

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 (ADR)

13 DATABOOK

13.1 Life Insurance

13.1.1 Policies and premium

13.1.2 Claims and expenses

13.1.3 Assets and investments

13.1.4 Individual life insurance

13.1.5 Individual life insurance by category

13.1.6 Group life insurance

13.1.7 Group life insurance by category

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 category

13.2.6 Motor insurance

13.2.7 Motor insurance by category

13.2.8 Liability insurance

13.2.9 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 GlobalData

15.2 About GlobalData

15.3 GlobalData’s Services

15.4 Disclaimer

Table

Table 1: Congolese Insurance Industry – Key Facts, 2016

Table 2: Congolese Insurance Industry – Segment Shares (%) of the Top Insurers, 2015

Table 3: Congolese Government Credit Ratings

Table 4: Congolese Insurance Industry – Gross Written Premium by Segment (XAF Billion), 2012–2016

Table 5: Congolese Insurance Industry – Gross Written Premium by Segment (XAF Billion), 2016–2021

Table 6: Congolese Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (XAF), 2012–2016

Table 7: Congolese Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (XAF), 2016–2021

Table 8: Congolese Insurance Industry – Paid Claims by Segment (XAF Billion), 2012–2016

Table 9: Congolese Insurance Industry – Paid Claims by Segment (XAF Billion), 2016–2021

Table 10: Congolese Insurance Industry – Total Investment Income by Segment (XAF Billion), 2012–2016

Table 11: Congolese Insurance Industry – Total Investment Income by Segment (XAF Billion), 2016–2021

Table 12: Congolese Insurance Industry – Life Insurance Investment Portfolio (XAF Billion), 2012–2016

Table 13: Congolese Insurance Industry – Life Insurance Investment Portfolio (XAF Billion), 2016–2021

Table 14: Congolese Insurance Industry – Non-Life Insurance Investment Portfolio (XAF Billion), 2012–2016

Table 15: Congolese Insurance Industry – Non-Life Insurance Investment Portfolio (XAF Billion), 2016–2021

Table 16: Congolese Insurance Industry – Personal Accident and Health Insurance Investment Portfolio (XAF Million), 2012–2016

Table 17: Congolese Insurance Industry – Personal Accident and Health Insurance Investment Portfolio (XAF Million), 2016–2021

Table 18: Congolese Individual Life Insurance – Direct Written Premium (XAF Billion and US$ Million), 2012–2016

Table 19: Congolese Individual Life Insurance – Direct Written Premium (XAF Billion and US$ Million), 2016–2021

Table 20: Congolese Group Life Insurance – Direct Written Premium (XAF Billion and US$ Million), 2012–2016

Table 21: Congolese Group Life Insurance – Direct Written Premium (XAF Billion and US$ Million), 2016–2021

Table 22: Congolese Property Insurance – Direct Written Premium (XAF Billion and US$ Billion), 2012–2016

Table 23: Congolese Property Insurance – Direct Written Premium (XAF Billion and US$ Billion), 2016–2021

Table 24: Congolese Property Insurance – Loss Ratio (%), 2012–2016

Table 25: Congolese Property Insurance – Loss Ratio (%), 2016–2021

Table 26: Congolese Motor Insurance – Direct Written Premium (XAF Billion and US$ Million), 2012–2016

Table 27: Congolese Motor Insurance – Direct Written Premium (XAF Billion and US$ Million), 2016–2021

Table 28: Congolese Motor Insurance – Loss Ratio (%), 2012–2016

Table 29: Congolese Motor Insurance – Loss Ratio (%), 2016–2021

Table 30: Congolese Liability Insurance – Direct Written Premium (XAF Billion and US$ Million), 2012–2016

Table 31: Congolese Liability Insurance – Direct Written Premium (XAF Billion and US$ Million), 2016–2021

Table 32: Congolese Liability Insurance – Loss Ratio (%), 2012–2016

Table 33: Congolese Liability Insurance – Loss Ratio (%), 2016–2021

Table 34: Congolese Marine, Aviation and Transit Insurance – Direct Written Premium (XAF Billion and US$ Million), 2012–2016

Table 35: Congolese Marine, Aviation and Transit Insurance – Direct Written Premium (XAF Billion and US$ Million), 2016–2021

Table 36: Congolese Marine, Aviation and Transit Insurance – Loss Ratio (%), 2012–2016

Table 37: Congolese Marine, Aviation and Transit Insurance – Loss Ratio (%), 2016–2021

Table 38: Congolese Personal Accident Insurance – Gross Written Premium (XAF Billion and US$ Million), 2012–2016

Table 39: Congolese Personal Accident Insurance – Gross Written Premium (XAF Billion and US$ Million), 2016–2021

Table 40: Congolese Personal Accident and Health Insurance – Paid Claims (XAF Billion and US$ Million), 2012–2016

Table 41: Congolese Personal Accident and Health Insurance – Paid Claims (XAF Billion and US$ Million), 2016–2021

Table 42: Congolese Personal Accident and Health Insurance – Loss Ratio (%), 2012–2016

Table 43: Congolese Personal Accident and Health Insurance – Loss Ratio (%), 2016–2021

Table 44: Congolese Reinsurance – Premium Ceded by Insurance Segment (XAF Billion), 2012–2016

Table 45: Congolese Reinsurance – Premium Ceded by Insurance Segment (XAF Billion), 2016–2021

Table 46: Congolese Insurance Industry – Market Shares of Leading Insurers (%), 2015

Table 47: Assurances et Réassurances du Congo – Key Facts

Table 48: Assurances Générales du Congo – Key Facts

Table 49: Nouvelle Société Interafricaine d’Assurances – Key Facts

Table 50: Allianz Congo Assurances – Key Facts

Table 51: Assurances Générales du Congo-Vie (AGC-Vie) – Key Facts

Table 52: NSIA Vie Congo – Key Facts

Table 53: Congo – Insurance Regulatory Framework Key Features

Table 54: Congo – Intermediary Remuneration Rates

Table 55: Congo – Life Insurance Regulatory Framework

Table 56: Congo – Property Insurance Regulatory Framework

Table 57: Congo – Motor Insurance Regulatory Framework

Table 58: Congo – Liability Insurance Regulatory Framework

Table 59: Congo – Insurance Premium Tax Rates

Table 60: Congo – Corporate Tax Rates for the Financial Year 2017

Table 61: Congolese Life Insurance – Policies and Premium, 2012–2016

Table 62: Congolese Life Insurance – Policies and Premium, 2016–2021

Table 63: Congolese Life Insurance – Claims and Expenses, 2012–2016

Table 64: Congolese Life Insurance – Claims and Expenses, 2016–2021

Table 65: Congolese Life Insurance – Assets and Investments, 2012–2016

Table 66: Congolese Life Insurance – Assets and Investments, 2016–2021

Table 67: Congolese Life Insurance – Individual Life Insurance, 2012–2016

Table 68: Congolese Life Insurance – Individual Life Insurance, 2016–2021

Table 69: Congolese Life Insurance – Individual Life Insurance by Category, 2012–2016

Table 70: Congolese Life Insurance – Individual Life Insurance by Category, 2016–2021

Table 71: Congolese Life Insurance – Group Life Insurance, 2012–2016

Table 72: Congolese Life Insurance – Group Life Insurance, 2016–2021

Table 73: Congolese Life Insurance – Group Life Insurance by Category, 2012–2016

Table 74: Congolese Life Insurance – Group Life Insurance by Category, 2016–2021

Table 75: Congolese Non-Life Insurance – Policies and Premium, 2012–2016

Table 76: Congolese Non-Life Insurance – Policies and Premium, 2016–2021

Table 77: Congolese Non-Life Insurance – Claims and Expenses, 2012–2016

Table 78: Congolese Non-Life Insurance – Claims and Expenses, 2016–2021

Table 79: Congolese Non-Life Insurance – Assets and Investments, 2012–2016

Table 80: Congolese Non-Life Insurance – Assets and Investments, 2016–2021

Table 81: Congolese Non-Life Insurance – Property Insurance, 2012–2016

Table 82: Congolese Non-Life Insurance – Property Insurance, 2016–2021

Table 83: Congolese Non-Life Insurance – Property Insurance by Category, 2012–2016

Table 84: Congolese Non-Life Insurance – Property Insurance by Category, 2016–2021

Table 85: Congolese Non-Life Insurance – Motor Insurance, 2012–2016

Table 86: Congolese Non-Life Insurance – Motor Insurance, 2016–2021

Table 87: Congolese Non-Life Insurance – Motor Insurance by Category, 2012–2016

Table 88: Congolese Non-Life Insurance – Motor Insurance by Category, 2016–2021

Table 89: Congolese Non-Life Insurance – Liability Insurance, 2012–2016

Table 90: Congolese Non-Life Insurance – Liability Insurance, 2016–2021

Table 91: Congolese Non-Life Insurance – Marine, Aviation and Transit Insurance, 2012–2016

Table 92: Congolese Non-Life Insurance – Marine, Aviation and Transit Insurance, 2016–2021

Table 93: Congolese Personal Accident and Health Insurance – Policies and Premium, 2012–2016

Table 94: Congolese Personal Accident and Health Insurance – Policies and Premium, 2016–2021

Table 95: Congolese Personal Accident and Health Insurance – Claims and Expenses, 2012–2016

Table 96: Congolese Personal Accident and Health Insurance – Claims and Expenses, 2016–2021

Table 97: Congolese Personal Accident and Health Insurance – Assets and Investments, 2012–2016

Table 98: Congolese Personal Accident and Health Insurance – Assets and Investments, 2016–2021

Table 99: Insurance Industry Definitions

Figures

Figure 1: Congolese Real GDP (XAF Trillion), 2012–2021

Figure 2: Congolese Consumer Price Inflation (%), 2012–2021

Figure 3: Congolese Unemployment Rate, 2012–2021

Figure 4: Congolese Exchange Rate, 2012–2021

Figure 5: Congolese Current Account Balance, 2012–2021

Figure 6: Congolese Population by Age Group, 1991–2025

Figure 7: Congolese Insurance Industry – Gross Written Premium by Segment, 2012–2021

Figure 8: Congolese Insurance Industry – Density by Segment (XAF), 2012–2021

Figure 9: Congolese Insurance Industry – Paid Claims by Segment (XAF Billion), 2012–2021

Figure 10: Congolese Insurance Industry – Total Investment Income by Segment (XAF Billion), 2012–2021

Figure 11: Congolese Insurance Industry – Life Insurance Investment Portfolio (XAF Billion), 2012–2021

Figure 12: Congolese Insurance Industry – Life Insurance Investment Portfolio Dynamics by Category (XAF Billion), 2012–2021

Figure 13: Congolese Insurance Industry – Non-Life Insurance Investment Portfolio (XAF Billion), 2012–2021

Figure 14: Congolese Insurance Industry – Non-Life Insurance Investment Portfolio Dynamics by Category (XAF Billion), 2012–2021

Figure 15: Congolese Insurance Industry – Personal Accident and Health Insurance Investment Portfolio (XAF Billion), 2012–2021

Figure 16: Congolese Insurance Industry – Personal Accident and Health Insurance Investment Portfolio Dynamics by Category (XAF Billion), 2012–2021

Figure 17: Congolese Individual Life Insurance – Direct Written Premium (XAF Billion), 2012–2021

Figure 18: Congolese Individual Life Insurance – Penetration (%), 2012–2016

Figure 19: Congolese Individual Life Insurance – Penetration (%), 2016–2021

Figure 20: Congolese Group Life Insurance – Direct Written Premium (XAF Billion), 2012–2021

Figure 21: Congolese Group Life Insurance – Penetration (%), 2012–2016

Figure 22: Congolese Group Life Insurance – Penetration (%), 2016–2021

Figure 23: Congolese Property Insurance – Direct Written Premium (XAF Billion), 2012–2021

Figure 24: Congolese Property Insurance – Penetration (%), 2012–2016

Figure 25: Congolese Property Insurance – Penetration (%), 2016–2021

Figure 26: Congolese Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2012–2021

Figure 27: Congolese Motor Insurance – Direct Written Premium (XAF Billion), 2012–2021

Figure 28: Congolese Motor Insurance – Penetration (%), 2012–2016

Figure 29: Congolese Motor Insurance – Penetration (%), 2016–2021

Figure 30: Congolese Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2012–2021

Figure 31: Congolese Liability Insurance – Direct Written Premium (XAF Billion), 2012–2021

Figure 32: Congolese Liability Insurance – Penetration (%), 2012–2016

Figure 33: Congolese Liability Insurance – Penetration (%), 2016–2021

Figure 34: Congolese Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2012–2021

Figure 35: Congolese Marine, Aviation and Transit Insurance – Direct Written Premium (XAF Billion), 2012–2021

Figure 36: Congolese Marine, Aviation and Transit Insurance – Penetration (%), 2012–2016

Figure 37: Congolese Marine, Aviation and Transit Insurance – Penetration (%), 2016–2021

Figure 38: Congolese Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Million and %), 2012–2021

Figure 39: Congolese Personal Accident Insurance – Gross Written Premium (XAF Billion), 2012–2021

Figure 40: Congolese Personal Accident Insurance – Penetration (%), 2012–2016

Figure 41: Congolese Personal Accident Insurance – Penetration (%), 2016–2021

Figure 42: Congolese Personal Accident Insurance – Paid Claims (XAF Billion), 2012–2021

Figure 43: Congolese Personal Accident and Health Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2012–2021

Figure 44: Congolese Reinsurance – Premium Ceded by Insurance Segment (XAF Billion), 2012–2021

Figure 45: Congolese Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2021

Figure 46: Congolese Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2021

Figure 47: Congolese Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2021

Figure 48: Congolese Insurance Industry – Market Shares of Leading Insurers (%), 2015

Figure 49: Congo – Insurance Supervision and Control at Various Levels

Figure 50: Congo – Insurance Regulatory Frameworks for Company Registration and Operation

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