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The Insurance Industry in Senegal, Key Trends and Opportunities to 2017 - Product Image

The Insurance Industry in Senegal, Key Trends and Opportunities to 2017

  • ID: 2786197
  • April 2014
  • Region: Senegal
  • 157 Pages
  • Timetric

FEATURED COMPANIES

  • Amsa Assurances Vie
  • Axa Assurances SA
  • Nsia Sénégal Assurances
  • Sonam Assurances SA
  • MORE

The report provides in-depth industry analysis, information and insights of the insurance industry in Senegal, including:

- The Senegalese insurance industry’s growth prospects by insurance segments and categories

- The competitive landscape in the Senegalese insurance industry

- The current trends and drivers of the Senegalese insurance industry

- Challenges facing the Senegalese insurance industry

- Detailed regulatory framework of the Senegalese insurance industry

Summary

The Senegalese insurance industry is the third-largest among the Inter-African Conference on Insurance Markets (Conférence Interafricaine des Marchés d'Assurances – CIMA) member states in terms of gross written premium. The Senegalese insurance industry registered significant growth during the review period (2009–2013). The growth of the Senegalese insurance industry was affected by the global financial crisis, however, the industry’s written premium grew at a review-period CAGR of 7.5%. The insurance industry is expected to grow further at a CAGR of 8.3% during the forecast period (2013–2018). The insurance industry had 21 READ MORE >

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Amsa Assurances Vie
  • Axa Assurances SA
  • Nsia Sénégal Assurances
  • Sonam Assurances SA
  • MORE

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Senegalese Insurance Industry Overview
3.1 Senegalese Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges

4 Industry Segmentation
4.1 Life Insurance
4.1.1 Individual endowment insurance
4.1.2 Individual marriage and birth insurance
4.1.3 Other insurance
4.1.4 Group life insurance
4.2 Non-Life Insurance
4.2.1 Property insurance
4.2.2 Motor insurance
4.2.3 Liability insurance
4.2.4 Marine, aviation and transit insurance
4.3 Personal Accident and Health Insurance
4.4 Reinsurance

5 Governance, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Legislation and Market Practice by Type of Insurance
5.2.1 Life insurance
5.2.2 Property insurance
5.2.3 Motor insurance
5.2.4 Liability insurance
5.2.5 Marine, aviation and transit insurance
5.2.6 Personal accident and health insurance
5.3 Compulsory Insurance
5.3.1 Motor third-party liability insurance
5.3.2 Professional indemnity insurance for insurance intermediaries
5.3.3 Worker’s compensation
5.4 Supervision and Control
5.4.1 International Association of Insurance Supervisors
5.4.2 Commission Regional des Assurances (CRCA)
5.4.3 Directions des Assurances (DA)
5.5 Non-Admitted Insurance Regulations
5.5.1 Overview
5.5.2 Intermediaries
5.5.3 Market practices
5.5.4 Fines and penalties
5.6 Company Registration and Operations
5.6.1 Types of insurance organization
5.6.2 Establishing a local company
5.6.3 Foreign ownership
5.6.4 Types of license
5.6.5 Capital requirements
5.6.6 Solvency margins
5.6.7 Reserve requirements
5.6.8 Investment regulations
5.6.9 Statutory return requirements
5.6.10 Fee structure
5.7 Taxation
5.7.1 Insurance premium or policy taxation
5.7.2 Withholding taxes on premium paid overseas
5.7.3 Corporate tax
5.7.4 VAT
5.7.5 Captives
5.8 Legal System
5.8.1 Introduction
5.8.2 Access to court
5.8.3 Alternative dispute resolution (ADR)

6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 Sonam Assurances SA - company overview
6.2.2 Allianz Sénégal Assurances Vie - company overview
6.2.3 Union des Assurances du Sénégal Vie (Uasen Vie) - company overview
6.2.4 Amsa Assurances - company overview
6.2.5 Axa Assurances SA - company overview
6.2.6 Nsia Sénégal Assurances - company overview
6.2.7 La Prévoyance Assurances SA - company overview

7 Economic Indicators
7.1 GDP at Constant Prices (US$)
7.2 GDP per Capita at Constant Prices (US$)
7.3 GDP at Current Prices (US$)
7.4 GDP per Capita at Current Prices (US$)
7.5 Inflation Rate
7.6 Exports as a Percentage of GDP
7.7 Imports as a Percentage of GDP
7.8 Infrastructure
7.8.1 Total internet subscribers
7.9 Labor Force
7.9.1 Labor force
7.1 Demographics
7.10.1 Total population
7.10.2 Urban and rural populations
7.10.3 Age distribution of the total population

8 Appendix
8.1 Methodology
8.2 Contact
8.3 About
8.4 Services
8.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions
Table 2: Senegalese Insurance - Overall Written Premium by Segment (XOF Billion), 2009- 2013
Table 3: Senegalese Insurance - Overall Written Premium by Segment (US$ Million), 2009- 2013
Table 4: Senegalese Insurance - Overall Written Premium by Segment (XOF Billion), 2013- 2018
Table 5: Senegalese Insurance - Overall Written Premium by Segment (US$ Million), 2013- 2018
Table 6: Senegalese Insurance - Segmentation (% Share), 2009- 2018
Table 7: Senegalese Life Insurance - Written Premium by Category (XOF Billion), 2009- 2013
Table 8: Senegalese Life Insurance - Written Premium by Category (US$ Million), 2009- 2013
Table 9: Senegalese Life Insurance - Written Premium by Category (XOF Billion), 2013- 2018
Table 10: Senegalese Life Insurance - Written Premium by Category (US$ Billion), 2013- 2018
Table 11: Senegalese Life Insurance - Paid Claims (XOF Billion), 2009- 2013
Table 12: Senegalese Life Insurance - Paid Claims (XOF Billion), 2013- 2018
Table 13: Senegalese Life Insurance - Incurred Loss (XOF Billion), 2009- 2013
Table 14: Senegalese Life Insurance - Incurred Loss (XOF Billion), 2013- 2018
Table 15: Senegalese Life Insurance - Loss Ratio (%), 2009- 2013
Table 16: Senegalese Life Insurance - Loss Ratio (%), 2013- 2018
Table 17: Senegalese Life Insurance - Combined Ratio (%), 2009- 2013
Table 18: Senegalese Life Insurance - Combined Ratio (%), 2013- 2018
Table 19: Senegalese Life Insurance - Total Investment Income (XOF Billion), 2009- 2013
Table 20: Senegalese Life Insurance - Total Investment Income (XOF Billion), 2013- 2018
Table 21: Senegalese Life Insurance - Retentions (XOF Billion), 2009- 2013
Table 22: Senegalese Life Insurance - Retentions (XOF Billion), 2013- 2018
Table 23: Senegalese Individual Endowment Insurance - Written Premium (XOF Billion), 2009- 2013
Table 24: Senegalese Individual Endowment Insurance - Written Premium (XOF Billion), 2013- 2018
Table 25: Senegalese Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2009- 2013
Table 26: Senegalese Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2013- 2018
Table 27: Senegalese Other Individual Insurance - Written Premium (XOF Million), 2009- 2013
Table 28: Senegalese Other Individual Insurance - Written Premium (XOF Million), 2013- 2018
Table 29: Senegalese Group Life Insurance - Written Premium (XOF Billion), 2009- 2013
Table 30: Senegalese Group Life Insurance - Written Premium (XOF Billion), 2013- 2018
Table 31: Senegalese Non-Life Insurance - Written Premium by Category (XOF Billion), 2009- 2013
Table 32: Senegalese Non-Life Insurance - Written Premium by Category (US$ Billion), 2009- 2013
Table 33: Senegalese Non-Life Insurance - Written Premium by Category (XOF Billion), 2013- 2018
Table 34: Senegalese Non-Life Insurance - Written Premium by Category (US$ Billion), 2013- 2018
Table 35: Senegalese Non-Life Insurance - Paid Claims (XOF Billion), 2009- 2013
Table 36: Senegalese Non-Life Insurance - Paid Claims (XOF Billion), 2013- 2018
Table 37: Senegalese Non-Life Insurance - Incurred Loss (XOF Billion), 2009- 2013
Table 38: Senegalese Non-Life Insurance - Incurred Loss (XOF Billion), 2013- 2018
Table 39: Senegalese Non-Life Insurance - Loss Ratio (%), 2009- 2013
Table 40: Senegalese Non-Life Insurance - Loss Ratio (%), 2013- 2018
Table 41: Senegalese Non-Life Insurance - Combined Ratio (%), 2009- 2013
Table 42: Senegalese Non-Life Insurance - Combined Ratio (%), 2013- 2018
Table 43: Senegalese Non-Life Insurance - Total Investment Income (XOF Billion), 2009- 2013
Table 44: Senegalese Non-Life Insurance - Total Investment Income (XOF Billion), 2013- 2018
Table 45: Senegalese Non-Life Insurance - Retentions (XOF Billion), 2009- 2013
Table 46: Senegalese Non-Life Insurance - Retentions (XOF Billion), 2013- 2018
Table 47: Senegalese Property Insurance - Written Premium (XOF Billion), 2009- 2013
Table 48: Senegalese Property Insurance - Written Premium (XOF Billion), 2013- 2018
Table 49: Senegalese Motor Insurance - Written Premium (XOF Billion), 2009- 2013
Table 50: Senegalese Motor Insurance - Written Premium (XOF Billion), 2013- 2018
Table 51: Senegalese Liability Insurance - Written Premium (XOF Billion), 2009- 2013
Table 52: Senegalese Liability Insurance - Written Premium (XOF Billion), 2013- 2018
Table 53: Senegalese Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2009- 2013
Table 54: Senegalese Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2013- 2018
Table 55: Senegalese Personal Accident and Health Insurance - Paid Claim (XOF Billion), 2009- 2013
Table 56: Senegalese Personal Accident and Health Insurance - Paid Claim (XOF Billion), 2013- 2018
Table 57: Senegalese Personal Accident and Health Insurance - Incurred Loss (XOF Billion), 2009- 2013
Table 58: Senegalese Personal Accident and Health Insurance - Incurred Loss (XOF Billion), 2013- 2018
Table 59: Senegalese Personal Accident and Health Insurance - Loss Ratio (%), 2009- 2013
Table 60: Senegalese Personal Accident and Health Insurance - Loss Ratio (%), 2013- 2018
Table 61: Senegalese Personal Accident and Health Insurance - Combined Ratio (%), 2009- 2013
Table 62: Senegalese Personal Accident and Health Insurance - Combined Ratio (%), 2013- 2018
Table 63: Senegalese Personal Accident and Health Insurance - Total Investment Income (XOF Billion), 2009- 2013
Table 64: Senegalese Personal Accident and Health Insurance - Total Investment Income (XOF Billion), 2013- 2018
Table 65: Senegalese Personal Accident and Health Insurance - Retentions (XOF Billion), 2009- 2013
Table 66: Senegalese Personal Accident and Health Insurance - Retentions (XOF Billion), 2013- 2018
Table 67: Senegalese Reinsurance Ceded by Insurance Segment (XOF Billion), 2009- 2013
Table 68: Senegalese Reinsurance Ceded by Insurance Segment (US$ Million), 2009- 2013
Table 69: Senegalese Reinsurance Ceded by Insurance Segment (XOF Billion), 2013- 2018
Table 70: Senegalese Reinsurance Ceded by Insurance Segment (US$ Million), 2013- 2018
Table 71: Senegalese Life Insurance - Percentage of Reinsurance Ceded (%), 2009- 2013
Table 72: Senegalese Life Insurance - Percentage of Reinsurance Ceded (%), 2013- 2018
Table 73: Senegalese Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009- 2013
Table 74: Senegalese Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013- 2018
Table 75: Senegalese Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009- 2013
Table 76: Senegalese Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013- 2018
Table 77: Senegal - Life Insurance Regulatory Framework
Table 78: Senegal - Property Insurance Regulatory Framework
Table 79: Senegal - Motor Insurance Regulatory Framework
Table 80: Senegal - Liability Insurance Regulatory Framework
Table 81: Senegal - Taxes on Insurance Premiums
Table 82: Senegal - Corporate Tax Rates for the Financial Year 2013
Table 83: Senegalese Life Insurance - Market Shares, 2010 and 2011
Table 84: Senegalese Non-Life Insurance - Market Shares, 2010 and 2011
Table 85: Sonam Assurances SA, Main Products
Table 86: Sonam Assurances SA, Key Employees
Table 87: Allianz Sénégal Assurances Vie, Main Products
Table 88: Allianz Sénégal Assurances Vie, Key Employees
Table 89: Union des Assurances du Sénégal Vie (Uasen Vie), Main Products
Table 90: Union des Assurances du Sénégal Vie (Uasen Vie), Key Employees
Table 91: Amsa Assurances, Main Products
Table 92: Amsa Assurances, Key Employees
Table 93: Axa Assurances SA, Main Products
Table 94: Axa assurances SA, Key Employees
Table 95: Nsia Sénégal Assurances, Main Products
Table 96: Nsia Sénégal Assurances, Key Employees
Table 97: La Prévoyance Assurances SA, Main Products
Table 98: La Prévoyance Assurances SA, Key Employees

List of Figures

Figure 1: Senegalese Insurance - Overall Written Premium by Segment (XOF Billion), 2009- 2018
Figure 2: Senegalese Insurance - Dynamics by Segment, 2009- 2018
Figure 3: Senegalese Life Insurance - Written Premium by Category (XOF Billion), 2009- 2018
Figure 4: Senegalese Life Insurance - Written Premium by Category (% Share), 2013 and 2018
Figure 5: Senegalese Life Insurance - Dynamics by Category, 2009- 2018
Figure 6: Senegalese Life Insurance - Paid Claims (XOF Billion), 2009- 2013
Figure 7: Senegalese Life Insurance - Paid Claims (XOF Billion), 2013- 2018
Figure 8: Senegalese Life Insurance - Incurred Loss (XOF Billion), 2009- 2013
Figure 9: Senegalese Life Insurance - Incurred Loss (XOF Billion), 2013- 2018
Figure 10: Senegalese Life Insurance - Loss Ratio (%), 2009- 2013
Figure 11: Senegalese Life Insurance - Loss Ratio (%), 2013- 2018
Figure 12: Senegalese Life Insurance - Combined Ratio (%), 2009- 2013
Figure 13: Senegalese Life Insurance - Combined Ratio (%), 2013- 2018
Figure 14: Senegalese Life Insurance - Total Investment Income (XOF Billion), 2009- 2013
Figure 15: Senegalese Life Insurance - Total Investment Income (XOF Billion), 2013- 2018
Figure 16: Senegalese Life Insurance - Retentions (XOF Billion), 2009- 2013
Figure 17: Senegalese Life Insurance - Retentions (XOF Billion), 2013- 2018
Figure 18: Senegalese Life Insurance - Investment (XOF Billion), 2009- 2013
Figure 19: Senegalese Life Insurance - Penetration (%), 2009- 2013
Figure 20: Senegalese Life Insurance - Premium Per-capita (XOF), 2009- 2013
Figure 21: Senegalese Individual Endowment Insurance - Written Premium (XOF Billion), 2009- 2013
Figure 22: Senegalese Individual Endowment Insurance - Written Premium (XOF Billion), 2013- 2018
Figure 23: Senegalese Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2009- 2013
Figure 24: Senegalese Individual Marriage and Birth Insurance - Written Premium (XOF Billion), 2013- 2018
Figure 25: Senegalese Other Individual Insurance - Written Premium (XOF Million), 2009- 2013
Figure 26: Senegalese Other Individual Insurance - Written Premium (XOF Million), 2013- 2018
Figure 27: Senegalese Group Life Insurance - Written Premium (XOF Billion), 2009- 2013
Figure 28: Senegalese Group Life Insurance - Written Premium (XOF Billion), 2013- 2018
Figure 29: Senegalese Non-Life Insurance - Written Premium by Category (XOF Billion), 2009- 2018
Figure 30: Senegalese Non-Life Insurance - Written Premium by Category (%), 2013 and 2018
Figure 31: Senegalese Non-Life Insurance - Dynamics by Category, 2009- 2018
Figure 32: Senegalese Non-Life Insurance - Paid Claims (XOF Billion), 2009- 2013
Figure 33: Senegalese Non-Life Insurance - Paid Claims (XOF Billion), 2013- 2018
Figure 34: Senegalese Non-Life Insurance - Incurred Loss (XOF Billion), 2009- 2013
Figure 35: Senegalese Non-Life Insurance - Incurred Loss (XOF Billion), 2013- 2018
Figure 36: Senegalese Non-Life Insurance - Loss Ratio (%), 2009- 2013
Figure 37: Senegalese Non-Life Insurance - Loss Ratio (%), 2013- 2018
Figure 38: Senegalese Non-Life Insurance - Combined Ratio (%), 2009- 2013
Figure 39: Senegalese Non-Life Insurance - Combined Ratio (%), 2013- 2018
Figure 40: Senegalese Non-Life Insurance - Total Investment Income (XOF Billion), 2009- 2013
Figure 41: Senegalese Non-Life Insurance - Total Investment Income (XOF Billion), 2013- 2018
Figure 42: Senegalese Non-Life Insurance - Retentions (XOF Billion), 2009- 2013
Figure 43: Senegalese Non-Life Insurance - Retentions (US$ Million), 2013- 2018
Figure 44: Senegalese Non-Life Insurance - Investment (XOF Billion), 2009- 2013
Figure 45: Senegalese Non-Life Insurance - Penetration (%), 2009- 2013
Figure 46: Senegalese Non-Life Insurance - Premium Per Capita (XOF), 2009- 2013
Figure 47: Senegalese Property Insurance - Written Premium (XOF Billion), 2009- 2013
Figure 48: Senegalese Property Insurance - Written Premium (XOF Billion), 2013- 2018
Figure 49: Senegalese Motor Insurance - Written Premium (XOF Billion), 2009- 2013
Figure 50: Senegalese Motor Insurance - Written Premium (XOF Billion), 2013- 2018
Figure 51: Senegalese Liability Insurance - Written Premium (XOF Billion), 2009- 2013
Figure 52: Senegalese Liability Insurance - Written Premium (XOF Billion), 2013- 2018
Figure 53: Senegalese Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2009- 2013
Figure 54: Senegalese Marine, Aviation and Transit Insurance - Written Premium (XOF Billion), 2013- 2018
Figure 55: Senegalese Personal Accident and Health Insurance - Paid Claims by Category (XOF Billion), 2009- 2013
Figure 56: Senegalese Personal Accident and Health Insurance - Paid Claims (XOF Billion), 2013- 2018
Figure 57: Senegalese Personal Accident and Health Insurance - Incurred Loss (XOF Billion), 2009- 2013
Figure 58: Senegalese Personal Accident and Health Insurance - Incurred Loss (XOF Billion), 2013- 2018
Figure 59: Senegalese Personal Accident and Health Insurance - Loss Ratio (%), 2009- 2013
Figure 60: Senegalese Personal Accident and Health Insurance - Loss Ratio (%), 2013- 2018
Figure 61: Senegalese Personal Accident and Health Insurance - Combined Ratio (%), 2009- 2013
Figure 62: Senegalese Personal Accident and Health Insurance - Combined Ratio (%), 2013- 2018
Figure 63: Senegalese Personal Accident and Health Insurance - Total Investment Income (XOF Billion), 2009- 2013
Figure 64: Senegalese Personal Accident and Health Insurance - Total Investment Income (XOF Billion), 2013- 2018
Figure 65: Senegalese Personal Accident and Health Insurance - Retentions (XOF Billion), 2009- 2013
Figure 66: Senegalese Personal Accident and Health Insurance - Retentions (XOF Billion), 2013- 2018
Figure 67: Senegalese Personal Accident and Health Insurance - Investment (XOF Billion), 2009- 2013
Figure 68: Senegalese Personal Accident and Health Insurance - Penetration (%), 2009- 2013
Figure 69: Senegalese Personal Accident and Health Insurance - Premium Per Capita (XOF), 2009- 2013
Figure 70: Senegalese Reinsurance Ceded by Insurance Segment (XOF Billion), 2009- 2018
Figure 71: Senegalese Reinsurance - Dynamics by Insurance Segment, 2009- 2018
Figure 72: Senegalese Life Insurance - Percentage of Reinsurance Ceded (%), 2009- 2013
Figure 73: Senegalese Life Insurance - Percentage of Reinsurance Ceded (%), 2013- 2018
Figure 74: Senegalese Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009- 2013
Figure 75: Senegalese Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013- 2018
Figure 76: Senegalese Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009- 2013
Figure 77: Senegalese Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013- 2018
Figure 78: Senegal - Insurance Regulatory Framework
Figure 79: Senegal - Insurance Supervision and Control at Various Levels
Figure 80: Senegal - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 81: Senegalese Life Insurance - Market Shares, 2010 and 2011
Figure 82: Senegalese Non-Life Insurance - Market Shares, 2010 and 2011
Figure 83: Senegalese GDP at Constant Prices (US$ Billion), 2008- 2012
Figure 84: Senegalese GDP Per Capita at Constant Prices (US$), 2008- 2012
Figure 85: Senegalese GDP at Current Prices (US$ Billion), 2008- 2012
Figure 86: Senegalese GDP Per Capita at Current Prices (US$), 2008- 2012
Figure 87: Senegalese Inflation Rate (%), 2008- 2012
Figure 88: Senegalese Exports as a Percentage of GDP (%), 2007- 2011
Figure 89: Senegalese Imports as a Percentage of GDP (%), 2007- 2011
Figure 90: Senegalese Internet Subscriptions (Millions), 2008- 2012
Figure 91: Senegalese Size of Labor Force (Million), 2008- 2012
Figure 92: Senegalese Total Population (Million), 2009- 2013
Figure 93: Senegalese Urban and Rural Populations (%), 2009- 2013
Figure 94: Senegalese Population Distribution by Age (%), 2009- 2013

Note: Product cover images may vary from those shown

- Allianz Sénégal Assurances Vie
- Amsa Assurances Vie
- Axa Assurances SA
- La Prévoyance Assurances SA
- Nsia Sénégal Assurances
- Sonam Assurances SA
- Union des Assurances du Sénégal Vie (Uasen Vie)

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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