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

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Published: August 31, 2018 Report Code: GDIS1712MR-ST

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GlobalData’s "The Insurance Industry in Madagascar, Key Trends and Opportunities to 2022" report provides detailed analysis of the market trends, drivers and challenges in the Malagasy 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 Malagasy 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.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

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

Scope

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

– It provides historical values for the Malagasy 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 Malagasy 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 Madagascar.

– It profiles the top insurance companies in Madagascar, 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 Malagasy insurance industry and each segment and category within it.

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

– Assess the competitive dynamics in the Malagasy insurance industry.

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

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

Saham Assurance
Mutuelle d’Assurance Malagasy
Compagnie Malgache d'Assurances et de Reassurances ny havana
Compagnie d’Assurances et de Reassurances Omnibranches
Allianz Madagascar

Table of Contents

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Industry Outlook

4.1 Direct written premium

4.2 Insurance density

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 Direct written premium

6.1.2 Penetration

6.1.3 Assets and investments

7 Distribution Channel Outlook

8 Natural and Man-Made Hazards

8.1 Storms and Flood

8.2 Droughts

8.3 Locust Invasions

8.4 Epidemics

8.5 Exposure

9 Competitive Landscape

9.1 Company Profiles

9.1.1 Saham Assurance – Company Overview

9.1.2 Mutuelle d’Assurance Malagasy (MAMA) – Company Overview

9.1.3 Compagnie Malgache d'Assurances et de Reassurances NY HAVANA – Company Overview

9.1.4 Compagnie d’Assurances et de Reassurances Omnibranches (ARO) – Company Overview

9.1.5 Allianz Madagascar – Company Overview

10 Governance, Risk and Compliance

10.1 Legislation Overview and Historical Evolution

10.2 Latest Changes in Regulation

10.3 Legislation and Market Practice by Type of Insurance

10.3.1 Life insurance

10.3.2 Property insurance

10.3.3 Motor insurance

10.3.4 Liability insurance

10.3.5 Marine, aviation and transit insurance

10.3.6 Personal accident and health insurance

10.4 Compulsory Insurance

10.4.1 Motor third-party liability insurance

10.4.2 Social security scheme

10.4.3 Liability for ships with respect to oil pollution

10.5 Supervision and Control

10.5.1 African Insurance Organization

10.5.2 Ministry of Finance

10.5.3 Committee of Insurance Companies in Madagascar

10.6 Non-Admitted Insurance Regulations

10.6.1 Overview

10.6.2 Intermediaries

10.6.3 Market practices

10.6.4 Fines and Penalties

10.7 Company Registration and Operations

10.7.1 Type of insurance organization

10.7.2 Establishing a local company

10.7.3 Foreign ownership

10.7.4 Types of license

10.7.5 Capital requirements

10.7.6 Solvency margin

10.7.7 Reserve requirements

10.7.8 Investment regulations

10.7.9 Statutory return requirements

10.7.10 Fee structure

10.8 Taxation

10.8.1 Insurance premium or policy taxation

10.8.2 Withholding taxes on premium paid overseas

10.8.3 Corporate tax

10.8.4 VAT

10.8.5 Captives

10.9 Legal System

10.9.1 Introduction

10.9.2 Access to court

10.9.3 Alternative dispute resolution

11 Databook

11.1 Life Insurance

11.1.1 Policies and premium

11.1.2 Claims and expenses

11.1.3 Assets and investments

11.2 General Insurance

11.2.1 Policies and premium

11.2.2 Claims and expenses

11.2.3 Assets and investments

12 Definitions and Methodology

12.1 Definitions

12.2 Methodology

13 About GlobalData

13.1 Contact GlobalData

13.2 About GlobalData

13.3 GlobalData’s Services

13.4 Disclaimer

Table

List of Tables

Table 1: Malagasy Insurance Industry – Key Facts, 2017

Table 2: Malagasy Insurance Industry -Leading Insurers, 2016

Table 3: Malagasy Insurance Industry – Direct Written Premium (MGA Billion and US$ Million), 2013-2017

Table 4: Malagasy Insurance Industry – Direct Written Premium (MGA Billion and US$ Million), 2017-2022

Table 5: Malagasy Insurance Industry – Density (MGA), 2013-2017

Table 6: Malagasy Insurance Industry – Density (MGA), 2017-2022

Table 7: Malagasy Life Insurance – Direct Written Premium (MGA Billion and US$ Million), 2013-2017

Table 8: Malagasy Life Insurance – Direct Written Premium (MGA Billion and US$ Million), 2017-2022

Table 9: Malagasy Life Insurance – Paid Claims (MGA Billion and US$ Million), 2013-2017

Table 10: Malagasy Life Insurance – Paid Claims (MGA Billion and US$ Million), 2017-2022

Table 11: Malagasy Life Insurance – Investment Portfolio (MGA Billion), 2013-2017

Table 12: Malagasy Life Insurance – Investment Portfolio (MGA Billion), 2017-2022

Table 13: Malagasy General Insurance – Direct Written Premium (MGA Billion and US$ Million), 2013-2017

Table 14: Malagasy General Insurance – Direct Written Premium (MGA Billion and US$ Million), 2017-2022

Table 15: Malagasy General Insurance – Total Investment Income (MGA Billion and US$ Million), 2013-2017

Table 16: Malagasy General Insurance – Total Investment Income (MGA Billion and US$ Million), 2017-2022

Table 17: Malagasy General Insurance – Investment Portfolio (MGA Billion), 2013-2017

Table 18: Malagasy General Insurance – Investment Portfolio (MGA Billion), 2017-2022

Table 19: Malagasy Insurance Industry – Leading Insurers, 2016

Table 20: Saham Assurance – Key Facts

Table 21: Mutuelle d’Assurance Malagasy (MAMA)- Key Facts

Table 22: Compagnie Malgache d'Assurances et de Reassurances NY HAVANA- Key Facts

Table 23: Compagnie d’Assurances et de Reassurances Omnibranches (ARO)- Key Facts

Table 24: Allianz Madagascar – Key Facts

Table 25: Madagascar – Insurance Regulatory Framework Key Features

Table 26: Madagascar – Life Insurance Regulatory Framework

Table 27: Madagascar – Life Insurance Regulatory Framework

Table 28: Madagascar – Property Insurance Regulatory Framework

Table 29: Madagascar – Motor Insurance Regulatory Framework

Table 30: Madagascar – Liability Insurance Regulatory Framework

Table 31: Madagascar – Corporate Tax Rates for the Financial Year 2018

Table 32: Malagasy Life Insurance – Policies and Premium, 2013-2017

Table 33: Malagasy Life Insurance – Policies and Premium, 2017-2022

Table 34: Malagasy Life Insurance – Claims and Expenses, 2013-2017

Table 35: Malagasy Life Insurance – Claims and Expenses, 2017-2022

Table 36: Malagasy Life Insurance – Assets and Investments, 2013-2017

Table 37: Malagasy Life Insurance – Assets and Investments, 2017-2022

Table 38: Malagasy General Insurance – Policies and Premium, 2013-2017

Table 39: Malagasy General Insurance – Policies and Premium, 2017-2022

Table 40: Malagasy General Insurance – Claims and Expenses, 2013-2017

Table 41: Malagasy General Insurance – Claims and Expenses, 2017-2022

Table 42: Malagasy General Insurance – Assets and Investments, 2013-2017

Table 43: Malagasy General Insurance – Assets and Investments, 2017-2022

Table 44: Insurance Industry Definitions

Figures

List of Figures

Figure 1: Malagasy Real GDP (MGA Billion), 2013-2022

Figure 2: Malagasy Exchange Rate (MGA per US$), 2013-2022

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

Figure 4: Malagasy Current Account Balance as Percentage of GDP (%), 2013-2022

Figure 5: Malagasy Unemployment Rate, 2013-2022

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

Figure 7: Malagasy Insurance Industry – Direct Written Premium (MGA Billion), 2013-2022

Figure 8: Malagasy Insurance Industry – Density (MGA), 2013-2022

Figure 9: Malagasy Life Insurance – Direct Written Premium (MGA Billion), 2013-2022

Figure 10: Malagasy Life Insurance – Paid Claims (MGA Billion), 2013-2022

Figure 11: Malagasy Life Insurance – Penetration (%), 2013-2017

Figure 12: Malagasy Life Insurance – Penetration (%), 2017-2022

Figure 13: Malagasy Life Insurance – Investment Portfolio (MGA Billion), 2013-2022

Figure 14: Malagasy Life Insurance – Investment Portfolio Dynamics (MGA Billion), 2013-2022

Figure 15: Malagasy General Insurance – Direct Written Premium (MGA Billion), 2013-2022

Figure 16: Malagasy General Insurance – Penetration (%), 2013-2017

Figure 17: Malagasy General Insurance – Penetration (%), 2017-2022

Figure 18: Malagasy General Insurance – Total Investment Income (MGA Billion), 2013-2022

Figure 19: Malagasy General Insurance – Investment Portfolio (MGA Billion), 2013-2022

Figure 20: Malagasy General Insurance – Investment Portfolio Dynamics (MGA Billion), 2013-2022

Figure 21: Madagascar – Insurance Supervision and Control at Various Levels

Figure 22: Madagascar – Insurance Regulatory Frameworks for Company Registration and Operation

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