The Insurance Industry in Niger, Key Trends and Opportunities to 2021

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Published: March 23, 2018 Report Code: GD-IS1645MR-ST

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GlobalData’s 'The Insurance Industry in Niger, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Nigerien insurance industry.

It provides key performance indicators such as written premium and claims 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 Nigerien 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 Niger:

• It provides historical values for the Nigerien 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 Nigerien insurance industry, with market forecasts to 2021.

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

• It analyzes the various distribution channels in Niger.

• It profiles the top insurance companies in Niger, and outlines the key regulations affecting them.

Key Highlights

• In December 2016, the African Development Bank (AfDB) sanctioned a loan of XOF8.2 billion (US$13.8 million) to the Nigerien government for the installation of a 1,540km fibre optic cable. This will provide high speed internet, and also connect Niger with Algeria and Nigeria.

• According to the United Nations Conference on Trade and Development, the Foreign Direct Investment (FDI) inflow to Niger has declined from XOF429.5 billion (US$ 841.3 million) in 2012 to XOF173.8 billion (US$292.8 million) in 2016, primarily due to poor infrastructure and attacks from militants.

• In February 2017, the Conférence Interafricaine des Marchés de l'Assurance (CIMA) organized a conference on insurance and microinsurance sales via mobile.

• According to a CIMA regulation established in 2012, microinsurers in Niger must form a public limited company to enter into the Nigerien insurance market, with a minimum share capital of XOF500.0 million (US$846,236.0).

Reasons to Buy

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

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

• Assess the competitive dynamics in the Nigerien insurance industry.

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

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

Compagnie d'Assurances et de Reassurances du Niger
Societe Nigerienne d'Assurances et de Reassurances
Sunu Assurances Vie Niger
La Nigerienne d'Assurances et de Reassurances
Sunu Assurances IARD Niger
Saham Assurances
Mutual Benefits Assurances Niger SA
Compagnie Nouvelle d'Assurances Vie

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

5 Life Insurance Outlook

5.1 Individual Life Insurance

5.1.1 Gross written premium

5.2 Group Life Insurance

5.2.1 Gross written premium

6 Non-Life Insurance Outlook

6.1 Property Insurance

6.1.1 Gross written premium

6.1.2 Claims

6.2 Motor Insurance

6.2.1 Gross written premium

6.2.2 Claims

6.3 Liability Insurance

6.3.1 Gross written premium

6.3.2 Claims

6.4 Marine, Aviation and Transit Insurance

6.4.1 Gross written premium

6.4.2 Claims

7 Personal Accident and Health Insurance Outlook

7.1 Personal Accident Insurance

7.1.1 Gross written premium

7.1.2 Claims

7.2 Health Insurance

7.2.1 Gross written premium

7.2.2 Claims

7.3 Travel Insurance

7.3.1 Gross written premium

7.3.2 Claims

8 Reinsurance Outlook

8.1 Reinsurance Accepted

9 Distribution Channel Outlook

10 Natural and Man-Made Hazards

10.1 Flooding

10.2 Earthquake

10.3 Droughts

10.4 Extreme Temperature

10.5 Landslides

10.6 Exposure

11 Competitive Landscape

11.1 Company Profiles

11.1.1 Pasha Insurance Company JSC – company overview

11.1.2 Pasha Life Insurance JSC – company overview

11.1.3 Niger State Insurance Commercial Company – company overview

11.1.4 Ateshgah Insurance Company JSC – company overview

11.1.5 Ateshgah Life Insurance Company JSC – company overview

12 Databook

12.1 Life Insurance

12.1.1 Policies and premium

12.1.2 Claims and expenses

12.1.3 Individual life insurance

12.1.4 Individual life insurance by category

12.1.5 Group life insurance

12.2 Non-Life Insurance

12.2.1 Policies and premium

12.2.2 Claims and expenses

12.2.3 Property insurance

12.2.4 Property insurance by category

12.2.5 Motor insurance

12.2.6 Motor insurance by category

12.2.7 Liability insurance

12.2.8 Marine, aviation and transit insurance

12.3 Personal Accident and Health Insurance

12.3.1 Policies and premium

12.3.2 Claims and expenses

12.3.3 Personal accident insurance

12.3.4 Health insurance

12.3.5 Travel insurance

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

Table 1: Nigerien Insurance Industry – Key Facts, 2016

Table 2: Nigerien Insurance Industry – Segment Shares of the Top Insurers, 2015

Table 3: Nigerien Insurance Industry – Gross Written Premium by Segment (XOF Billion), 2012–2016

Table 4: Nigerien Insurance Industry – Gross Written Premium by Segment (XOF Billion), 2016–2021

Table 5: Nigerien Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (XOF), 2012–2016

Table 6: Nigerien Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (XOF), 2016–2021

Table 7: Nigerien Insurance Industry – Paid Claims by Segment(XOF Billion), 2012–2016

Table 8: Nigerien Insurance Industry – Paid Claims by Segment(XOF Billion), 2016–2021

Table 9: Nigerien Insurance Industry – Total Investment Income by Segment (XOF Billion), 2012–2016

Table 10: Nigerien Insurance Industry – Total Investment Income by Segment (XOF Billion), 2016–2021

Table 11: Nigerien Insurance Industry – Life Insurance Investment Portfolio (XOF Billion), 2012–2016

Table 12: Nigerien Insurance Industry – Life Insurance Investment Portfolio (XOF Billion), 2016–2021

Table 13: Nigerien Insurance Industry – Non-Life Insurance Investment Portfolio (XOF Billion), 2012–2016

Table 14: Nigerien Insurance Industry – Non-Life Insurance Investment Portfolio (XOF Billion), 2016–2021

Table 15: Nigerien Insurance Industry – Personal Accident and Health Insurance Investment Portfolio (XOF Billion), 2012–2016

Table 16: Nigerien Insurance Industry – Personal Accident and Health Insurance Investment Portfolio (XOF Billion), 2016–2021

Table 17: Nigerien Individual Life Insurance – Direct Written Premium (XOF Billion and US$ Million), 2012–2016

Table 18: Nigerien Individual Life Insurance – Direct Written Premium (XOF Billion and US$ Million), 2016–2021

Table 19: Nigerien Group Life Insurance – Direct Written Premium (XOF Billion and US$ Million), 2012–2016

Table 20: Nigerien Group Life Insurance – Direct Written Premium (XOF Billion and US$ Million), 2016–2021

Table 21: Nigerien Property Insurance – Direct Written Premium (XOF Billion and US$ Million), 2012–2016

Table 22: Nigerien Property Insurance – Direct Written Premium (XOF Billion and US$ Million), 2016–2021

Table 23: Nigerien Property Insurance – Loss Ratio (%), 2012–2016

Table 24: Nigerien Property Insurance – Loss Ratio(%), 2016–2021

Table 25: Nigerien Motor Insurance – Direct Written Premium (XOF Billion and US$ Million), 2012–2016

Table 26: Nigerien Motor Insurance – Direct Written Premium (XOF Billion and US$ Million), 2016–2021

Table 27: Nigerien Motor Insurance – Loss Ratio (%), 2012–2016

Table 28: Nigerien Motor Insurance – Loss Ratio(%), 2016–2021

Table 29: Nigerien Liability Insurance – Direct Written Premium (XOF Million and US$ Million), 2012–2016

Table 30: Nigerien Liability Insurance – Direct Written Premium (XOF Million and US$ Million), 2016–2021

Table 31: Nigerien Liability Insurance – Loss Ratio (%), 2012–2016

Table 32: Nigerien Liability Insurance – Loss Ratio(%), 2016–2021

Table 33: Nigerien Marine, Aviation and Transit Insurance – Direct Written Premium (XOF Billion and US$ Million), 2012–2016

Table 34: Nigerien Marine, Aviation and Transit Insurance – Direct Written Premium (XOF Billion and US$ Million), 2016–2021

Table 35: Nigerien Marine, Aviation and Transit Insurance – Loss Ratio (%), 2012–2016

Table 36: Nigerien Marine, Aviation and Transit Insurance – Loss Ratio(%), 2016–2021

Table 37: Nigerien Personal Accident and Health Insurance – Gross Written Premium (XOF Billion and US$ Million), 2012–2016

Table 38: Nigerien Personal Accident and Health Insurance – Gross Written Premium (XOF Billion and US$ Million), 2016–2021

Table 39: Nigerien Personal Accident and Health Insurance – Paid Claims (XOF Billion and US$ Million), 2012–2016

Table 40: Nigerien Personal Accident and Health Insurance – Paid Claims (XOF Billion and US$ Million), 2016–2021

Table 41: Nigerien Personal Accident and Health Insurance – Loss Ratio (%), 2012–2016

Table 42: Nigerien Personal Accident and Health Insurance – Loss Ratio(%), 2016–2021

Table 43: Nigerien Reinsurance – Premium Accepted (XOF Million and US$ Million), 2012–2016

Table 44: Nigerien Reinsurance – Premium Accepted (XOF Million and US$ Million), 2016–2021

Table 45: Nigerien Reinsurance – Premium Ceded by Insurance Segment (XOF Billion), 2012–2016

Table 46: Nigerien Reinsurance – Premium Ceded by Insurance Segment (XOF Billion), 2016–2021

Table 47: Nigerien Insurance Industry – Market Shares of Leading Insurers (%), 2015

Table 48: Nigerien Life Insurance Segment – Market Shares of Leading Insurers (%), 2015

Table 49: Nigerien Non–Life Insurance Segment – Market Shares of Leading Insurers (%), 2015

Table 50: Compagnie d'Assurances et de Reassurances du Niger – Key Facts

Table 51: Societe Nigerienne d'Assurances et de Reassurances – Key Facts

Table 52: Sunu Assurances Vie Niger – Key Facts

Table 53: La Nigerienne d'Assurances et de Reassurances – Key Facts

Table 54: Sunu Assurances IARD Niger – Key Facts

Table 55: Niger– Insurance Regulatory Framework Key Features

Table 56: Niger – Insurance Intermediary Remuneration

Table 57: Niger – Life Insurance Regulatory Framework

Table 58: Niger – Property Insurance Regulatory Framework

Table 59: Niger – Motor Insurance Regulatory Framework

Table 60: Niger – Liability Insurance Regulatory Framework

Table 61: Niger – Insurance Premium Tax Rates

Table 62: Niger – Corporate Tax Rates for the Financial Year 2017

Table 63: Nigerien Life Insurance – Policies and Premium, 2012–2016

Table 64: Nigerien Life Insurance – Policies and Premium, 2016–2021

Table 65: Nigerien Life Insurance – Claims and Expenses, 2012–2016

Table 66: Nigerien Life Insurance – Claims and Expenses, 2016–2021

Table 67: Nigerien Life Insurance – Assets and Investments, 2012–2016

Table 68: Nigerien Life Insurance – Assets and Investments, 2016–2021

Table 69: Nigerien Life Insurance – Individual Life Insurance, 2012–2016

Table 70: Nigerien Life Insurance – Individual Life Insurance, 2016–2021

Table 71: Nigerien Life Insurance – Individual Life Insurance by Category, 2012–2016

Table 72: Nigerien Life Insurance – Individual Life Insurance by Category, 2016–2021

Table 73: Nigerien Life Insurance – Group Life Insurance, 2012–2016

Table 74: Nigerien Life Insurance – Group Life Insurance, 2016–2021

Table 75: Nigerien Life Insurance – Group Life Insurance by Category, 2012–2016

Table 76: Nigerien Life Insurance – Group Life Insurance by Category, 2016–2021

Table 77: Nigerien Non-Life Insurance – Policies and Premium, 2012–2016

Table 78: Nigerien Non-Life Insurance – Policies and Premium, 2016–2021

Table 79: Nigerien Non-Life Insurance – Claims and Expenses, 2012–2016

Table 80: Nigerien Non-Life Insurance – Claims and Expenses, 2016–2021

Table 81: Nigerien Non-Life Insurance – Assets and Investments, 2012–2016

Table 82: Nigerien Non-Life Insurance – Assets and Investments, 2016–2021

Table 83: Nigerien Non-Life Insurance – Property Insurance, 2012–2016

Table 84: Nigerien Non-Life Insurance – Property Insurance, 2016–2021

Table 85: Nigerien Non-Life Insurance – Property Insurance by Category, 2012–2016

Table 86: Nigerien Non-Life Insurance – Property Insurance by Category, 2016–2021

Table 87: Nigerien Non-Life Insurance – Motor Insurance, 2012–2016

Table 88: Nigerien Non-Life Insurance – Motor Insurance, 2016–2021

Table 89: Nigerien Non-Life Insurance – Motor Insurance by Category, 2012–2016

Table 90: Nigerien Non-Life Insurance – Motor Insurance by Category, 2016–2021

Table 91: Nigerien Non-Life Insurance – Liability Insurance, 2012–2016

Table 92: Nigerien Non-Life Insurance – Liability Insurance, 2016–2021

Table 93: Nigerien Non-Life Insurance – Marine, Aviation and Transit Insurance, 2012–2016

Table 94: Nigerien Non-Life Insurance – Marine, Aviation and Transit Insurance, 2016–2021

Table 95: Nigerien Personal Accident and Health Insurance – Policies and Premium, 2012–2016

Table 96: Nigerien Personal Accident and Health Insurance – Policies and Premium, 2016–2021

Table 97: Nigerien Personal Accident and Health Insurance – Claims and Expenses, 2012–2016

Table 98: Nigerien Personal Accident and Health Insurance – Claims and Expenses, 2016–2021

Table 99: Nigerien Personal Accident and Health Insurance – Assets and Investments, 2012–2016

Table 100: Nigerien Personal Accident and Health Insurance – Assets and Investments, 2016–2021

Table 101: Insurance Industry Definitions

Figures

Figure 1: Nigerien Nominal GDP (XOF Trillion), 2012–2021

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

Figure 3: XOF-US$ Exchange Rate, 2011–2020

Figure 4: Nigerien Unemployment Rate, 2012–2021

Figure 5: Nigerien Population by Age Group, 1991–2025

Figure 6: Nigerien Life Insurance Penetration – Regional Comparison (%), 2016

Figure 7: Nigerien Non-Life Insurance Penetration – Regional Comparison (%), 2016

Figure 8: Nigerien Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2016

Figure 9: Nigerien Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2016

Figure 10: Nigerien Insurance Industry – Gross Written Premium by Segment, 2012–2021

Figure 11: Nigerien Insurance Industry – Density (Direct Written Premium Per Capita) by Segment (XOF), 2012–2021

Figure 12: Nigerien Insurance Industry – Paid Claims by Segment(XOF Billion), 2012–2021

Figure 13: Nigerien Insurance Industry – Total Investment Income by Segment (XOF Billion), 2012–2021

Figure 14: Nigerien Insurance Industry – Life Insurance Investment Portfolio (XOF Billion), 2012–2021

Figure 15: Nigerien Insurance Industry – Life Insurance Investment Portfolio Dynamics by Category (XOF Billion), 2012–2021

Figure 16: Nigerien Insurance Industry – Non-Life Insurance Investment Portfolio (XOF Billion), 2012–2021

Figure 17: Nigerien Insurance Industry – Non-Life Insurance Investment Portfolio Dynamics by Category (XOF Billion), 2012–2021

Figure 18: Nigerien Insurance Industry – Personal Accident and Health Insurance Investment Portfolio (XOF Billion), 2012–2021

Figure 19: Nigerien Insurance Industry – Personal Accident and Health Insurance Investment Portfolio Dynamics by Category (XOF Billion), 2012–2021

Figure 20: Nigerien Individual Life Insurance – Direct Written Premium (XOF Billion), 2012–2021

Figure 21: Nigerien Individual Life Insurance – Penetration (%), 2012–2016

Figure 22: Nigerien Individual Life Insurance – Penetration (%), 2016–2021

Figure 23: Nigerien Group Life Insurance – Direct Written Premium (XOF Billion), 2012–2021

Figure 24: Nigerien Group Life Insurance – Penetration (%), 2012–2016

Figure 25: Nigerien Group Life Insurance – Penetration (%), 2016–2021

Figure 26: Nigerien Property Insurance – Direct Written Premium (XOF Billion), 2012–2021

Figure 27: Nigerien Property Insurance – Penetration (%), 2012–2016

Figure 28: Nigerien Property Insurance – Penetration (%), 2016–2021

Figure 29: Nigerien Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2012–2021

Figure 30: Nigerien Motor Insurance – Direct Written Premium (XOF Billion), 2012–2021

Figure 31: Nigerien Motor Insurance – Penetration (%), 2012–2016

Figure 32: Nigerien Motor Insurance – Penetration (%), 2016–2021

Figure 33: Nigerien Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2012–2021

Figure 34: Nigerien Liability Insurance – Direct Written Premium (XOF Million), 2012–2021

Figure 35: Nigerien Liability Insurance – Penetration (%), 2012–2016

Figure 36: Nigerien Liability Insurance – Penetration (%), 2016–2021

Figure 37: Nigerien Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (XOF Million and %), 2012–2021

Figure 38: Nigerien Marine, Aviation and Transit Insurance – Direct Written Premium (XOF Billion), 2012–2021

Figure 39: Nigerien Marine, Aviation and Transit Insurance – Penetration (%), 2012–2016

Figure 40: Nigerien Marine, Aviation and Transit Insurance – Penetration (%), 2016–2021

Figure 41: Nigerien Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2012–2021

Figure 42: Nigerien Personal Accident and Health Insurance – Gross Written Premium (XOF Billion), 2012–2021

Figure 43: Nigerien Personal Accident and Health Insurance – Penetration (%), 2012–2016

Figure 44: Nigerien Personal Accident and Health Insurance – Penetration (%), 2016–2021

Figure 45: Nigerien Personal Accident and Health Insurance – Paid Claims (XOF Billion), 2012–2021

Figure 46: Nigerien Personal Accident and Health Insurance – Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2012–2021

Figure 47: Nigerien Reinsurance – Premium Accepted by Category (XOF Million), 2012–2021

Figure 48: Nigerien Reinsurance – Premium Ceded by Insurance Segment (XOF Billion), 2012–2021

Figure 49: Nigerien Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2021

Figure 50: Nigerien Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2021

Figure 51: Nigerien Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2021

Figure 52: Nigerien Insurance Industry – Market Shares of Leading Insurers (%), 2015

Figure 53: Nigerien Life Insurance Segment – Market Shares of Leading Insurers (%), 2015

Figure 54: Nigerien Non–Life Insurance Segment – Market Shares of Leading Insurers (%), 2015

Figure 55: Niger – Insurance Supervision and Control at Various Levels

Figure 56: Niger – Insurance Regulatory Frameworks for Company Registration and Operation

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