Botswana Insurance Industry – Key Trends and Opportunities to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Botswana Insurance Market Report Overview
The gross written premium of the Botswana insurance market was BAM6.8 billion ($632.2 million) in 2023. The market will achieve a CAGR of more than 7% during 2024-2028. The Botswana insurance market research report provides in-depth market analysis, information, and insights into the Botswana insurance industry. It provides a detailed outlook by product category as well as values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review and forecast periods.
Botswana Insurance Market Outlook, 2023-2028 (BAM Million)
Buy the Full Report for More Insights into the Botswana Insurance Market Forecast
The Botswana insurance market report also analyzes distribution channels operating in the segment and gives a comprehensive overview of the Botswana economy and demographics. It further evaluates the competitive landscape, which entails information on segment dynamics, 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.
Market Size (2023) | BAM6.8 billion ($632.2 million) |
CAGR (2024-2028) | >7% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Segments | · General Insurance
· Life Insurance |
Key Companies | · Botswana Life
· Metropolitan · Hollard Life · Liberty · Absa Life |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Botswana Insurance Market Trends
The key trends impacting the Botswana insurance market are the launch of funeral plans and bancassurance. For instance, in September 2023, in June 2022, BBS Bank diversified its product offering by launching an insurance agency. The agency which currently offers mortgage insurance will operate all of the group’s bancassurance business.
Buy the Full Report for More Insights on Trends Shaping the Botswana Insurance Market
Botswana Insurance Market by Segments
The key segments in the Botswana insurance market are life insurance and general insurance. The life insurance segment dominated the Botswana insurance market in 2023 and will register significant growth during 2024-2028. The annual growth rate of life insurance premiums was more than 8% in 2023.
Botswana Insurance Market Analysis by Segments, 2023 (%)
Buy the Full Report for More Segment Insights into the Botswana Insurance Market
Botswana Insurance Market – Competitive Landscape
In 2022, Botswana Life accounted for the highest market share in the Botswana life insurance market
A few of the key companies in the Botswana insurance market are:
- Botswana Life
- Metropolitan
- Hollard Life
- Liberty
- Absa Life
Botswana Life Insurance Market Analysis by Companies, 2022(%)
Buy the Full Report for More Company Insights into the Botswana Insurance Market
Botswana Insurance Market – Latest Developments
- In September 2023, Botswana Telecommunications Corporation (BTC) partnered with Hollard to launch the Karabo Funeral Plan. The policy is designed for individuals with little or no access to bank accounts. It will allow consumers to pay and access the policy via their BTC Smega mobile money wallet.
- In October 2023, the Botswana government and De Beers agreed on a 10-year sales deal for Debswana’s rough diamond production through to 2033. The deal will boost Botswana’s revenues, which the government aims to use to expand the country’s social services.
Botswana Insurance Market Segments Outlook (Value, BAM Million, 2019-2028)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Botswana insurance industry. It also offers:
- Historical values for the Botswana insurance industry for the review period, 2019-2023, and projected figures for the forecast period, 2024-2028.
- A detailed analysis of the key categories in the Botswana insurance industry and market forecasts up to 2028.
- Insights on key regulations affecting the market.
- Analysis of distribution channels operating in the segment, an overview of the Botswana economy and demographics, and detailed information on the competitive landscape in the country.
- Profiles of the top life insurance companies in Botswana and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Botswana insurance industry.
- A comprehensive overview of the Botswana economy, government initiatives, and investment opportunities.
- The Botswana insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Botswana insurance industry’s market structure giving details of lines of business.
- Botswana reinsurance business’s market structure giving details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Botswana insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Botswana insurance industry.
- Assess the competitive dynamics in the Botswana insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Metropolitan Life
Botswana Insurance Company
Hollard Insurance
The Hollard Life Assurance Company
Old Mutual Short-Term Insurance
Absa Life
Sesiro Insurance Company
Table of Contents
Frequently asked questions
-
What was the Botswana insurance market gross written premium in 2023?
The gross written premium of the Botswana insurance market was BAM6.8 billion ($632.2 million) in 2023.
-
What will the growth rate of the Botswana insurance market be during the forecast period?
The insurance market in Botswana is expected to achieve a CAGR of more than 7% during 2024-2028.
-
Which segment dominated the Botswana insurance market in 20223?
The life insurance segment dominated the Botswana insurance market in 2023.
-
Which are the major companies operating in the Botswana insurance market?
A few of the key companies in the Botswana insurance market are Botswana Life, Metropolitan, Hollard Life, Liberty, and Absa Life among others.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.