The Insurance Industry in Chad, Key Trends and Opportunities to 2022

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Published: June 30, 2018 Report Code: GDIS1695MR-ST

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This report provides detailed analysis of the market trends, drivers and challenges in the Chadian insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Chadian 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.

GlobalData’s 'The Insurance Industry in Chad, Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Chadian insurance industry, including –
– The Chadian insurance industry's growth prospects by segment and category
– A comprehensive overview of the Chadian economy and demographics
– Details of the competitive landscape in the Chadian insurance industry
– The various distribution channels in the Chadian insurance industry
– Details of regulatory policy applicable to the Chadian insurance industry
– Analysis of natural hazards in the Chadian insurance industry.

Key Highlights

– The insurance industry in Chad is concentrated, with the presence of two domestic insurers: Star Group Assurances and Société Africaine d’Assurance et de Reassurance (SAFAR).
– Based on the approval of the regulatory authority of the country, the CIMA Code allows up to 50% of any reinsurance risk to be placed abroad, and more than 50% of a risk with unlicensed overseas reinsurers.
– In May 2016, the Commission Regional des Assurances CRCA issued a draft regulation on the e-distribution of insurance products in Conférence Interafricaine des Marchés d'Assurances (CIMA) member states.

Scope

– This report provides a comprehensive analysis of the insurance industry in Chad.

– It provides historical values for the Chadian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

– It offers a detailed analysis of the key segments in the Chadian insurance industry, with market forecasts to 2022.

– It covers an exhaustive list of parameters, including written premium and claims.

– It analyzes the various distribution channels in Chad.

– It profiles the top insurance companies in Chad, and outlines the key regulations affecting them.

Reasons to Buy

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

– Understand the demand-side dynamics, key market trends and growth opportunities in the Chadian insurance industry.

– Assess the competitive dynamics in the Chadian insurance industry.

– Identify the growth opportunities and market dynamics in key segments.

– Gain insights into key regulations governing the Chadian insurance industry and their impact on companies and the industry's future.

Société Africaine d’Assurance et de Reassurance (SAFAR)
Star Nationale SA
Star Vie SA

Table of Contents

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 Direct written premium

4.1.3 Insurance density

4.1.4 Paid claims

5 Life Insurance Outlook

5.1 Segment Indicators

5.1.1 Direct written premium

5.1.2 Paid claims

5.1.3 Penetration

5.1.4 Assets and investments

6 General Insurance Outlook

6.1 Segment Indicators

6.1.1 Gross written premium

6.1.2 Direct written premium

6.1.3 Paid claims

6.1.4 Penetration

6.1.5 Loss ratio

6.1.6 Assets and investments

6.2 Property Insurance

6.2.1 Direct written premium

6.2.2 Penetration

6.2.3 Profitability

6.3 Motor Insurance

6.3.1 Direct written premium

6.3.2 Penetration

6.3.3 Profitability

6.4 Liability Insurance

6.4.1 Direct written premium

6.4.2 Penetration

6.4.3 Profitability

6.5 Marine, Aviation and Transit Insurance

6.5.1 Direct written premium

6.5.2 Penetration

6.5.3 Profitability

6.6 Personal Accident and Health Insurance

6.6.1 Direct written premium

6.6.2 Penetration

6.6.3 Profitability

6.7 Miscellaneous

6.7.1 Direct written premium

6.7.2 Penetration

6.7.3 Profitability

7 Reinsurance Outlook

7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

9.1 Flooding

9.2 Droughts

9.3 Man-Made Hazards

9.4 Exposure

10 Competitive Landscape

10.1 Company Profiles

10.1.1 Société Africaine d’Assurance et de Reassurance – company overview

10.1.2 Star Group Assurances – company overview

10.1.3 Star Vie SA – company overview

11 Governance, Risk and Compliance

11.1 Legislation Overview and Historical Evolution

11.2 Latest Changes in Regulation

11.3 Legislation and Market Practice by Type of Insurance

11.3.1 Life insurance

11.3.2 Property insurance

11.3.3 Motor insurance

11.3.4 Liability insurance

11.3.5 Marine, aviation and transit insurance

11.3.6 Personal accident and health insurance

11.4 Compulsory Insurance

11.4.1 Motor third-party liability insurance

11.4.2 Professional indemnity insurance for insurance intermediaries

11.5 Supervision and Control

11.5.1 International Association of Insurance Supervisors

11.5.2 Commission Regional des Assurances

11.5.3 Direction des Finances Extérieures et Organismes

11.6 Non-Admitted Insurance Regulations

11.6.1 Overview

11.6.2 Intermediaries

11.6.3 Market practices

11.6.4 Fines and Penalties

11.7 Company Registration and Operations

11.7.1 Type of insurance organization

11.7.2 Establishing a local company

11.7.3 Foreign ownership

11.7.4 Types of license

11.7.5 Capital requirements

11.7.6 Solvency margin

11.7.7 Reserve requirements

11.7.8 Investment regulations

11.7.9 Statutory return requirements

11.7.10 Fee structure

11.8 Taxation

11.8.1 Insurance premium or policy taxation

11.8.2 Withholding taxes on premium paid overseas

11.8.3 Corporate tax

11.8.4 VAT

11.8.5 Captives

11.9 Legal System

11.9.1 Introduction

11.9.2 Access to court

11.9.3 Alternative dispute resolution

12 Databook

12.1 Life Insurance

12.1.1 Policies and premium

12.1.2 Claims and expenses

12.1.3 Assets and investments

12.2 General Insurance

12.2.1 Policies and premium

12.2.2 Claims and expenses

12.2.3 Assets and investments

12.2.4 Property insurance

12.2.5 Property insurance by category

12.2.6 Motor insurance

12.2.7 Motor insurance by category

12.2.8 Liability insurance

12.2.9 Marine, aviation and transit insurance

12.2.10 Marine, aviation and transit insurance by category

12.2.11 Personal accident and health insurance

12.2.12 Miscellaneous

13 Definitions and Methodology

13.1 Definitions

13.2 Methodology

14 About GlobalData

14.1 Contact GlobalData

14.2 About GlobalData

14.3 GlobalData’s Services

14.4 Disclaimer

Table

List of Tables

Table 1: Chadian Insurance Industry – Key Facts, 2017

Table 2: Chadian Insurance Industry – Industry Shares of the Top Insurers, 2017

Table 3: Chadian Insurance Industry – Gross Written Premium (XAF Billion and US$ Million), 2013-2017

Table 4: Chadian Insurance Industry – Gross Written Premium (XAF Billion and US$ Million), 2017-2022

Table 5: Chadian Insurance Industry – Direct Written Premium (XAF Billion and US$ Million), 2013-2017

Table 6: Chadian Insurance Industry – Direct Written Premium (XAF Billion and US$ Million), 2017-2022

Table 7: Chadian Insurance Industry – Density (XAF), 2013-2017

Table 8: Chadian Insurance Industry – Density (XAF), 2017-2022

Table 9: Chadian Insurance Industry – Paid Claims (XAF Billion and US$ Million), 2013-2017

Table 10: Chadian Insurance Industry – Paid Claims (XAF Billion and US$ Million), 2017-2022

Table 11: Chadian Life Insurance – Direct Written Premium (XAF Billion and US$ Million), 2013-2017

Table 12: Chadian Life Insurance – Direct Written Premium (XAF Billion and US$ Million), 2017-2022

Table 13: Chadian Life Insurance – Paid Claims (XAF Billion and US$), 2013-2017

Table 14: Chadian Life Insurance – Paid Claims (XAF Billion and US$), 2017-2022

Table 15: Chadian Life Insurance – Total Investment Income (XAF Billion and US$ Million), 2013-2017

Table 16: Chadian Life Insurance – Total Investment Income (XAF Billion and US$ Million), 2017-2022

Table 17: Chadian Life Insurance – Investment Portfolio (XAF Million), 2013-2017

Table 18: Chadian Life Insurance – Investment Portfolio (XAF Billion), 2017-2022

Table 19: Chadian General Insurance – Gross Written Premium (XAF Billion and US$ Million), 2013-2017

Table 20: Chadian General Insurance – Gross Written Premium (XAF Billion and US$ Million), 2017-2022

Table 21: Chadian General Insurance – Direct Written Premium (XAF Billion and US$ Million), 2013-2017

Table 22: Chadian General Insurance – Direct Written Premium (XAF Billion and US$ Million), 2017-2022

Table 23: Chadian General Insurance – Paid Claims (XAF Billion and US$ Million), 2013-2017

Table 24: Chadian General Insurance – Paid Claims (XAF Billion and US$ Million), 2017-2022

Table 25: Chadian General Insurance – Total Investment Income (XAF Billion and US$ Million), 2013-2017

Table 26: Chadian General Insurance – Total Investment Income (XAF Billion and US$ Million), 2017-2022

Table 27: Chadian General Insurance – Investment Portfolio (XAF Billion), 2013-2017

Table 28: Chadian General Insurance – Investment Portfolio (XAF Billion), 2017-2022

Table 29: Chadian Property Insurance – Direct Written Premium (XAF Billion and US$ Million), 2013-2017

Table 30: Chadian Property Insurance – Direct Written Premium (XAF Billion and US$ Million), 2017-2022

Table 31: Chadian Property Insurance – Loss Ratio (%), 2013-2017

Table 32: Chadian Property Insurance – Loss Ratio (%), 2017-2022

Table 33: Chadian Motor Insurance – Direct Written Premium (XAF Billion and US$ Million), 2013-2017

Table 34: Chadian Motor Insurance -Direct Written Premium (XAF Billion and US$ Million), 2017-2022

Table 35: Chadian Motor Insurance – Loss Ratio (%), 2013-2017

Table 36: Chadian Motor Insurance – Loss Ratio (%), 2017-2022

Table 37: Chadian Liability Insurance – Direct Written Premium (XAF Billion and US$ Million), 2013-2017

Table 38: Chadian Liability Insurance – Direct Written Premium (XAF Billion and US$ Million), 2017-2022

Table 39: Chadian Liability Insurance – Loss Ratio (%), 2013-2017

Table 40: Chadian Liability Insurance – Loss Ratio (%), 2017-2022

Table 41: Chadian Marine, Aviation and Transit Insurance – Direct Written Premium (XAF Million and US$ Million), 2013-2017

Table 42: Chadian Marine, Aviation and Transit Insurance – Direct Written Premium (XAF Million and US$ Million), 2017-2022

Table 43: Chadian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2013-2017

Table 44: Chadian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2017-2022

Table 45: Chadian Personal Accident and Health Insurance – Direct Written Premium (XAF Billion and US$ Million), 2013-2017

Table 46: Chadian Personal Accident and Health Insurance – Direct Written Premium (XAF Billion and US$ Million), 2017-2022

Table 47: Chadian Personal Accident and Health Insurance – Loss Ratio (%), 2013-2017

Table 48: Chadian Personal Accident and Health Insurance – Loss Ratio (%), 2017-2022

Table 49: Chadian Miscellaneous – Direct Written Premium (XAF Million and US$ Million), 2013-2017

Table 50: Chadian Miscellaneous – Direct Written Premium (XAF Million and US$ Million), 2017-2022

Table 51: Chadian Miscellaneous – Loss Ratio (%), 2013-2017

Table 52: Chadian Miscellaneous – Loss Ratio (%), 2017-2022

Table 53: Chadian Reinsurance – Premium Ceded by Insurance Segment (XAF Billion), 2013-2017

Table 54: Chadian Reinsurance – Premium Ceded by Insurance Segment (XAF Billion), 2017-2022

Table 55: Chadian Insurance Industry – Market Shares of Leading Insurers (%), 2016

Table 56: Société Africaine d’Assurance et de Reassurance – Key Facts

Table 57: Star Nationale SA – Key Facts

Table 58: Star Vie SA – Key Facts

Table 59: Chad – Insurance Regulatory Framework Key Features

Table 60: Chad – Intermediary Remuneration Rates

Table 61: Chad – Life Insurance Regulatory Framework

Table 62: Chad – Property Insurance Regulatory Framework

Table 63: Chad – Motor Insurance Regulatory Framework

Table 64: Chad – Liability Insurance Regulatory Framework

Table 65: Chad – Insurance Premium Tax Rates

Table 66: Chad – Corporate Tax Rates for the Financial Year 2017

Table 67: Chadian Life Insurance – Policies and Premium, 2013-2017

Table 68: Chadian Life Insurance – Policies and Premium, 2017-2022

Table 69: Chadian Life Insurance – Claims and Expenses, 2013-2017

Table 70: Chadian Life Insurance – Claims and Expenses, 2017-2022

Table 71: Chadian Life Insurance – Assets and Investments, 2013-2017

Table 72: Chadian Life Insurance – Assets and Investments, 2017-2022

Table 73: Chadian General Insurance – Policies and Premium, 2013-2017

Table 74: Chadian General Insurance – Policies and Premium, 2017-2022

Table 75: Chadian General Insurance – Claims and Expenses, 2013-2017

Table 76: Chadian General Insurance – Claims and Expenses, 2017-2022

Table 77: Chadian General Insurance – Assets and Investments, 2013-2017

Table 78: Chadian General Insurance – Assets and Investments, 2017-2022

Table 79: Chadian General Insurance – Property Insurance, 2013-2017

Table 80: Chadian General Insurance – Property Insurance, 2017-2022

Table 81: Chadian General Insurance – Property Insurance by Category, 2013-2017

Table 82: Chadian General Insurance – Property Insurance by Category, 2017-2022

Table 83: Chadian General Insurance – Motor Insurance, 2013-2017

Table 84: Chadian General Insurance – Motor Insurance, 2017-2022

Table 85: Chadian General Insurance – Motor Insurance by Category, 2013-2017

Table 86: Chadian General Insurance – Motor Insurance by Category, 2017-2022

Table 87: Chadian General Insurance – Liability Insurance, 2013-2017

Table 88: Chadian General Insurance – Liability Insurance, 2017-2022

Table 89: Chadian General Insurance – Marine, Aviation and Transit Insurance, 2013-2017

Table 90: Chadian General Insurance – Marine, Aviation and Transit Insurance, 2017-2022

Table 91: Chadian General Insurance – Marine Aviation and Transit Insurance by Category, 2013-2017

Table 92: Chadian General Insurance – Marine Aviation and Transit Insurance by Category, 2017-2022

Table 93: Chadian General Insurance – Personal Accident and Health Insurance, 2013-2017

Table 94: Chadian General Insurance – Personal Accident and Health Insurance, 2017-2022

Table 95: Chadian General Insurance – Miscellaneous, 2013-2017

Table 96: Chadian General Insurance – Miscellaneous, 2017-2022

Table 97: Insurance Industry Definitions

Figures

List of Figures

Figure 1: Chadian Real GDP (XAF Trillion), 2013-2022

Figure 2: Chadian Exchange Rate (XAF per US$), 2013-2022

Figure 3: Chadian Consumer Price Inflation (%), 2013-2022

Figure 4: Chadian Current Account Balance as Percentage of GDP (%), 2013-2017

Figure 5: Chadian Unemployment Rate, 2013-2022

Figure 6: Chadian Population by Age Group, 2013-2022

Figure 7: Chadian Insurance Industry – Gross Written Premium (XAF Billion), 2013-2022

Figure 8: Chadian Insurance Industry – Direct Written Premium (XAF Billion), 2013-2022

Figure 9: Chadian Insurance Industry – Density (XAF), 2013-2022

Figure 10: Chadian Insurance Industry – Paid Claims (XAF Billion), 2013-2022

Figure 11: Chadian Life Insurance – Direct Written Premium (XAF Billion), 2013-2022

Figure 12: Chadian Life Insurance – Paid Claims (XAF Billion), 2013-2022

Figure 13: Chadian Life Insurance – Penetration (%), 2013-2017

Figure 14: Chadian Life Insurance – Penetration (%), 2017-2022

Figure 15: Chadian Life Insurance – Total Investment Income (XAF Billion), 2013-2022

Figure 16: Chadian Life Insurance – Investment Portfolio (XAF Billion), 2013-2022

Figure 17: Chadian General Insurance – Gross Written Premium (XAF Billion), 2013-2022

Figure 18: Chadian General Insurance – Direct Written Premium (XAF Billion), 2013-2022

Figure 19: Chadian General Insurance – Paid Claims (XAF Billion), 2013-2022

Figure 20: Chadian General Insurance – Penetration (%), 2013-2017

Figure 21: Chadian General Insurance – Penetration (%), 2017-2022

Figure 22: Chadian General Insurance – Loss Ratio (%), 2013-2017

Figure 23: Chadian General Insurance – Loss Ratio (%), 2017-2022

Figure 24: Chadian General Insurance – Total Investment Income (XAF Billion), 2013-2022

Figure 25: Chadian General Insurance – Investment Portfolio (XAF Billion), 2013-2022

Figure 26: Chadian General Insurance – Investment Portfolio Dynamics (XAF Billion), 2013-2022

Figure 27: Chadian Property Insurance – Direct Written Premium (XAF Billion), 2013-2022

Figure 28: Chadian Property Insurance – Penetration (%), 2013-2017

Figure 29: Chadian Property Insurance – Penetration (%), 2017-2022

Figure 30: Chadian Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2013-2022

Figure 31: Chadian Motor Insurance – Direct Written Premium (XAF Billion), 2013-2022

Figure 32: Chadian Motor Insurance – Penetration (%), 2013-2017

Figure 33: Chadian Motor Insurance – Penetration (%), 2017-2022

Figure 34: Chadian Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2013-2022

Figure 35: Chadian Liability Insurance – Direct Written Premium (XAF Billion), 2013-2022

Figure 36: Chadian Liability Insurance – Penetration (%), 2013-2017

Figure 37: Chadian Liability Insurance – Penetration (%), 2017-2022

Figure 38: Chadian Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2013-2022

Figure 39: Chadian Marine, Aviation and Transit Insurance – Direct Written Premium (XAF Million), 2013-2022

Figure 40: Chadian Marine, Aviation and Transit Insurance – Penetration (%), 2013-2017

Figure 41: Chadian Marine, Aviation and Transit Insurance – Penetration (%), 2017-2022

Figure 42: Chadian Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Million and %), 2013-2022

Figure 43: Chadian Personal Accident and Health Insurance – Direct Written Premium (XAF Billion), 2013-2022

Figure 44: Chadian Personal Accident and Health Insurance – Penetration (%), 2013-2017

Figure 45: Chadian Personal Accident and Health Insurance – Penetration (%), 2017-2022

Figure 46: Chadian Personal Accident and Health Insurance – Earned Premium, Incurred Loss and Loss Ratio (XAF Billion and %), 2013-2022

Figure 47: Chadian Miscellaneous – Direct Written Premium (XAF Billion), 2013-2022

Figure 48: Chadian Miscellaneous – Penetration (%), 2013-2017

Figure 49: Chadian Miscellaneous – Penetration (%), 2017-2022

Figure 50: Chadian Miscellaneous – Earned Premium, Incurred Loss and Loss Ratio (XAF Million and %), 2013-2022

Figure 51: Chadian Reinsurance – Premium Ceded by Insurance Segment (XAF Billion), 2013-2022

Figure 52: Chadian General Insurance – Percentage of Reinsurance Ceded (%), 2013-2022

Figure 53: Chadian Insurance Industry – Market Shares of Leading Insurers (%), 2016

Figure 54: Chad – Insurance Supervision and Control at Various Levels

Figure 55: Chad – Insurance Regulatory Frameworks for Company Registration and Operation

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