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

  • ID: 4411835
  • Report
  • Region: Zimbabwe
  • 114 pages
  • Timetric
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FEATURED COMPANIES

  • FBC Reinsurance Company
  • Old Mutual Zimbabwe
  • ZB Reinsurance Company
  • MORE
The 'The Insurance Industry in Zimbabwe, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Zimbabwean insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions 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 Zimbabwean economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together 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.

Summary

The 'The Insurance Industry in Zimbabwe, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Zimbabwean insurance industry, including:
  • The Zimbabwean insurance industry's growth prospects by segment and category
  • A comprehensive overview of Zimbabwean economy and demographics
  • The detailed competitive landscape in the Zimbabwean insurance industry
  • The various distribution channels in the Zimbabwean insurance industry
  • Detailed regulatory policies of the Zimbabwean insurance industry
  • Analysis of natural hazards in Zimbabwean insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Zimbabwe:
  • It provides historical values for the Zimbabwean 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 Zimbabwean insurance industry, along with market forecasts until 2021.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It analyzes the various distribution channels in Zimbabwe.
  • It profiles the top insurance companies in Zimbabwe 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 Zimbabwean insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Zimbabwean insurance industry.
  • Assess the competitive dynamics in the Zimbabwean insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Zimbabwean insurance industry and their impact on companies and the industry's future.
Key Highlights:
  • On June 16, 2017, the Insurance and Pensions Commission (IPEC) introduced microinsurance regulation.
  • In 2017, First Mutual Health (FMHC) launched a mobile app to manage their insurance portfolio online. The app also enables the online purchase of insurance products from the company
  • FBC Insurance has adopted SSP’s digital insurance technology in order to operate more efficiently and remain compliant with the stringent Zimbabwean regulatory environment.
  • In March 2016, IPEC increased registration fees and levies for insurance companies and pension funds.
  • In 2016, Old Mutual Life, in partnership with Blue Marble Microinsurance, launched a drought insurance product providing insurance against seasonal droughts.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • FBC Reinsurance Company
  • Old Mutual Zimbabwe
  • ZB Reinsurance Company
  • MORE
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
4.1.3 Assets and investments
5 Life Insurance Outlook
5.1 Individual Life Insurance
5.1.1 Gross written premium
5.1.2 Penetration
5.2 Group Life Insurance
5.2.1 Gross written premium
5.2.2 Penetration
6 Non-Life Insurance Outlook
6.1 Property Insurance
6.1.1 Gross written premium
6.1.2 Penetration
6.2 Motor Insurance
6.2.1 Gross written premium
6.2.2 Penetration
6.3 Liability Insurance
6.3.1 Gross written premium
6.3.2 Penetration
6.4 Marine, Aviation and Transit Insurance
6.4.1 Gross written premium
6.4.2 Penetration
7 Personal Accident and Health Insurance Outlook
7.1 Personal Accident Insurance
7.1.1 Gross written premium
7.1.2 Penetration
7.2 Health Insurance
7.2.1 Gross written premium
7.2.2 Penetration
8 Reinsurance Outlook
8.1 Premium Ceded
9 Distribution Channel Outlook
10 Natural and Man-Made Hazards
10.1 Flooding
10.2 Droughts
10.3 Earthquakes
10.4 Wildfires
10.5 Epidemics
10.6 Man-Made Hazards
10.7 Exposure
11 Competitive Landscape
11.1 Company Profiles
11.1.1 Old Mutual Life Assurance Company Zimbabwe Ltd - company overview
11.1.2 Nicoz Diamond Insurance Ltd - company overview
11.1.3 Alliance Insurance Company (Pvt) Ltd - company overview
11.1.4 Cell Insurance Company (Pvt) Ltd - company overview
11.1.5 Zimnat Lion Insurance Company Ltd - company overview
12 Governance, Risk and Compliance
12.1 Legislation Overview and Historical Evolution
12.2 Latest Changes in Regulation
12.3 Legislation and Market Practice by Type of Insurance
12.3.1 Life insurance
12.3.2 Property insurance
12.3.3 Motor insurance
12.3.4 Liability insurance
12.3.5 Marine, aviation and transit insurance
12.3.6 Personal accident and health insurance
12.4 Compulsory Insurance
12.4.1 Motor third-party liability insurance
12.4.2 Workmen’s compensation
12.5 Supervision and Control
12.5.1 African Insurance Organization
12.5.2 Insurance and Pensions Commission
12.6 Non-Admitted Insurance Regulations
12.6.1 Overview
12.6.2 Intermediaries
12.6.3 Market practices
12.6.4 Fines and Penalties
12.7 Company Registration and Operations
12.7.1 Type of insurance organization
12.7.2 Establishing a local company
12.7.3 Foreign ownership
12.7.4 Types of license
12.7.5 Capital requirements
12.7.6 Solvency margin
12.7.7 Reserve requirements
12.7.8 Investment regulations
12.7.9 Statutory return requirements
12.7.10 Fee structure
12.8 Taxation
12.8.1 Insurance premium or policy taxation
12.8.2 Withholding taxes on premium paid overseas
12.8.3 Corporate tax
12.8.4 VAT
12.8.5 Captives
12.8.6 Legal System
12.8.7 Introduction
12.8.8 Access to court
12.8.9 Alternative dispute resolution
13 Databook
13.1 Life Insurance
13.1.1 Policies and premium
13.1.2 Claims and expenses
13.1.3 Assets and investments
13.1.4 Individual life insurance
13.1.5 Group life insurance
13.2 Non-Life Insurance
13.2.1 Policies and premium
13.2.2 Claims and expenses
13.2.3 Assets and investments
13.2.4 Insurance brokers and agencies
13.2.5 Property insurance
13.2.6 Property insurance by category
13.2.7 Motor insurance
13.2.8 Liability insurance
13.2.9 Marine, aviation and transit insurance
13.3 Personal Accident and Health Insurance
13.3.1 Policies and premium
13.3.2 Claims and expenses
13.3.3 Assets and investments
13.3.4 Personal accident insurance
13.3.5 Health insurance
14 Definitions and Methodology
14.1 Definitions
14.2 Methodology
15 About
15.1 Contact
15.2 About
15.3 Services
15.4 Disclaimer

List of Tables
Table 1: Zimbabwean Insurance Industry - Key Facts, 2016
Table 2: Zimbabwean Insurance Industry - Segment Shares of the Top Insurers, 2016
Table 3: Zimbabwean Insurance Industry - Gross Written Premium by Segment (US$ Million), 2012-2016
Table 4: Zimbabwean Insurance Industry - Gross Written Premium by Segment (US$ Million), 2016-2021
Table 5: Zimbabwean Insurance Industry - Density by Segment (US$), 2012-2016
Table 6: Zimbabwean Insurance Industry - Density by Segment (US$), 2016-2021
Table 7: Zimbabwean Insurance Industry - Paid Claims (US$ Million), 2012-2016
Table 8: Zimbabwean Insurance Industry - Paid Claims (US$ Million), 2016-2021
Table 9: Zimbabwean Insurance Industry - Total Assets by Segment (US$ Billion), 2012-2016
Table 10: Zimbabwean Insurance Industry - Total Assets by Segment (US$ Billion), 2016-2021
Table 11: Zimbabwean Insurance Industry - Total Investment Income by Segment (US$ Billion), 2012-2016
Table 12: Zimbabwean Insurance Industry - Total Investment Income by Segment (US$ Billion), 2016-2021
Table 13: Zimbabwean Insurance Industry - Life Insurance Investment Portfolio (US$ Million), 2012-2016
Table 14: Zimbabwean Insurance Industry - Life Insurance Investment Portfolio (US$ Million), 2016-2021
Table 15: Zimbabwean Individual Life Insurance - Gross Written Premium (US$ Million ), 2012-2016
Table 16: Zimbabwean Individual Life Insurance - Gross Written Premium (US$ Million), 2016-2021
Table 17: Zimbabwean Group Life Insurance - Gross Written Premium (US$ Million), 2012-2016
Table 18: Zimbabwean Group Life Insurance - Gross Written Premium (US$ Million), 2016-2021
Table 19: Zimbabwean Property Insurance - Gross Written Premium (US$ Million), 2012-2016
Table 20: Zimbabwean Property Insurance - Gross Written Premium (US$ Million), 2016-2021
Table 21: Zimbabwean Motor Insurance - Gross Written Premium (US$ Million), 2012-2016
Table 22: Zimbabwean Motor Insurance - Gross Written Premium (US$ Million), 2016-2021
Table 23: Zimbabwean Liability Insurance - Gross Written Premium (US$ Million), 2012-2016
Table 24: Zimbabwean Liability Insurance - Gross Written Premium (US$ Million), 2016-2021
Table 25: Zimbabwean Marine, Aviation and Transit Insurance - Gross Written Premium (US$ Million), 2012-2016
Table 26: Zimbabwean Marine, Aviation and Transit Insurance - Gross Written Premium (US$ Million), 2016-2021
Table 27: Zimbabwean Personal Accident Insurance - Gross Written Premium (US$ Million), 2012-2016
Table 28: Zimbabwean Personal Accident Insurance - Gross Written Premium (US$ Million), 2016-2021
Table 29: Zimbabwean Health Insurance - Gross Written Premium (US$ Million), 2012-2015
Table 30: Zimbabwean Health Insurance - Gross Written Premium (US$ Million), 2017-2021
Table 31: Zimbabwean Reinsurance - Premium Ceded by Insurance Segment (US$ Million), 2012-2016
Table 32: Zimbabwean Reinsurance - Premium Ceded by Insurance Segment (US$ Million), 2016-2021
Table 33: Zimbabwean Life Insurance - Market Shares of Leading Insurers (%), 2016
Table 34: Zimbabwean Non-Life Insurance - Market Shares of Leading Insurers (%), 2016
Table 35: Zimbabwean Reinsurance - Market Shares of Leading Insurers (%), 2016
Table 36: Old Mutual Life Assurance Company Zimbabwe Ltd - Key Facts
Table 37: Nicoz Diamond Insurance Ltd - Key Facts
Table 38: Alliance Insurance Company (Pvt) Ltd - Key Facts
Table 39: Cell Insurance Company (Pvt) Ltd - Key Facts
Table 40: Zimnat Lion Insurance Company Ltd - Key Facts
Table 41: Zimbabwe - Insurance Regulatory Framework Key Features
Table 42: Zimbabwe - Life Insurance Regulatory Framework
Table 43: Zimbabwe - Property Insurance Regulatory Framework
Table 44: Zimbabwe Motor Insurance Regulatory Framework
Table 45: Zimbabwe - Liability Insurance Regulatory Framework
Table 46: Zimbabwe - Corporate Tax Rates for the Financial Year 2017
Table 47: Zimbabwean Life Insurance - Policies and Premium, 2012-2016
Table 48: Zimbabwean Life Insurance - Policies and Premium, 2016-2021
Table 49: Zimbabwean Life Insurance - Claims and Expenses, 2012-2016
Table 50: Zimbabwean Life Insurance - Claims and Expenses, 2016-2021
Table 51: Zimbabwean Life Insurance - Assets and Investments, 2012-2016
Table 52: Zimbabwean Life Insurance - Assets and Investments, 2016-2021
Table 53: Zimbabwean Life Insurance - Individual Life Insurance, 2012-2016
Table 54: Zimbabwean Life Insurance - Individual Life Insurance, 2016-2021
Table 55: Zimbabwean Life Insurance - Group Life Insurance, 2012-2016
Table 56: Zimbabwean Life Insurance - Group Life Insurance, 2016-2021
Table 57: Zimbabwean Non-Life Insurance - Policies and Premium, 2012-2016
Table 58: Zimbabwean Non-Life Insurance - Policies and Premium, 2016-2021
Table 59: Zimbabwean Non-Life Insurance - Claims and Expenses, 2012-2016
Table 60: Zimbabwean Non-Life Insurance - Claims and Expenses, 2016-2021
Table 61: Zimbabwean Non-Life Insurance - Assets and Investments, 2012-2016
Table 62: Zimbabwean Non-Life Insurance - Assets and Investments, 2016-2021
Table 63: Zimbabwean Non-Life Insurance - Insurance Brokers and Agencies, 2012-2016
Table 64: Zimbabwean Non-Life Insurance - Property Insurance, 2012-2016
Table 65: Zimbabwean Non-Life Insurance - Property Insurance, 2016-2021
Table 66: Zimbabwean Non-Life Insurance - Property Insurance by Category, 2012-2016
Table 67: Zimbabwean Non-Life Insurance - Property Insurance by Category, 2016-2021
Table 68: Zimbabwean Non-Life Insurance - Motor Insurance, 2012-2016
Table 69: Zimbabwean Non-Life Insurance - Motor Insurance, 2016-2021
Table 70: Zimbabwean Non-Life Insurance - Liability Insurance, 2012-2016
Table 71: Zimbabwean Non-Life Insurance - Liability Insurance, 2016-2021
Table 72: Zimbabwean Non-Life Insurance - Marine, Aviation and Transit Insurance, 2012-2016
Table 73: Zimbabwean Non-Life Insurance - Marine, Aviation and Transit Insurance, 2016-2021
Table 74: Zimbabwean Personal Accident and Health Insurance - Policies and Premium, 2012-2016
Table 75: Zimbabwean Personal Accident and Health Insurance - Policies and Premium, 2016-2021
Table 76: Zimbabwean Personal Accident and Health Insurance - Claims and Expenses, 2012-2016
Table 77: Zimbabwean Personal Accident and Health Insurance - Claims and Expenses, 2016-2021
Table 78: Zimbabwean Personal Accident and Health Insurance - Assets and Investments, 2012-2016
Table 79: Zimbabwean Personal Accident and Health Insurance - Assets and Investments, 2016-2021
Table 80: Zimbabwean Personal Accident and Health Insurance - Personal Accident Insurance, 2012-2016
Table 81: Zimbabwean Personal Accident and Health Insurance - Personal Accident Insurance, 2016-2021
Table 82: Zimbabwean Personal Accident and Health Insurance - Health Insurance, 2012-2016
Table 83: Zimbabwean Personal Accident and Health Insurance - Health Insurance, 2017-2021
Table 84: Insurance Industry Definitions

List of Figures
Figure 1: Zimbabwean Real GDP (US$ Billion), 2012-2021
Figure 2: Zimbabwean Consumer Price Inflation, 2012-2021
Figure 3: Zimbabwean Unemployment Rate, 2012-2021
Figure 4: Zimbabwean Population by Age Group, 1990-2025
Figure 5: Zimbabwean Insurance Industry - Gross Written Premium by Segment, 2012-2021
Figure 6: Zimbabwean Insurance Industry - Density by Segment (US$), 2012-2021
Figure 7: Zimbabwean Insurance Industry - Paid Claims (US$ Billion), 2012-2021
Figure 8: Zimbabwean Insurance Industry - Total Assets by Segment (US$ Billion), 2012-2021
Figure 9: Zimbabwean Insurance Industry - Total Investment Income by Segment (US$ Billion), 2012-2021
Figure 10: Zimbabwean Insurance Industry - Life Insurance Investment Portfolio (US$ Million), 2012-2021
Figure 11: Zimbabwean Insurance Industry - Life Insurance Investment Portfolio Dynamics by Category (US$ Billion), 2012-2021
Figure 12: Zimbabwean Individual Life Insurance - Gross Written Premium (US$ Million), 2012-2021
Figure 13: Zimbabwean Individual Life Insurance - Penetration (%), 2012-2016
Figure 14: Zimbabwean Individual Life Insurance - Penetration (%), 2016-2021
Figure 15: Zimbabwean Group Life Insurance - Gross Written Premium (US$ Million), 2012-2021
Figure 16: Zimbabwean Group Life Insurance - Penetration (%), 2012-2016
Figure 17: Zimbabwean Group Life Insurance - Penetration (%), 2016-2021
Figure 18: Zimbabwean Property Insurance - Gross Written Premium (US$ Million), 2012-2021
Figure 19: Zimbabwean Property Insurance - Penetration (%), 2012-2016
Figure 20: Zimbabwean Property Insurance - Penetration (%), 2016-2021
Figure 21: Zimbabwean Motor Insurance - Gross Written Premium (US$ Million), 2012-2021
Figure 22: Zimbabwean Motor Insurance - Penetration (%), 2012-2016
Figure 23: Zimbabwean Motor Insurance - Penetration (%), 2016-2021
Figure 24: Zimbabwean Liability Insurance - Gross Written Premium (US$ Million), 2012-2021
Figure 25: Zimbabwean Liability Insurance - Penetration (%), 2012-2016
Figure 26: Zimbabwean Liability Insurance - Penetration (%), 2016-2021
Figure 27: Zimbabwean Marine, Aviation and Transit Insurance - Gross Written Premium (US$ Million), 2012-2021
Figure 28: Zimbabwean Marine, Aviation and Transit Insurance - Penetration (%), 2012-2016
Figure 29: Zimbabwean Marine, Aviation and Transit Insurance - Penetration (%), 2016-2021
Figure 30: Zimbabwean Personal Accident Insurance - Gross Written Premium (US$ Million), 2012-2021
Figure 31: Zimbabwean Personal Accident Insurance - Penetration (%), 2012-2016
Figure 32: Zimbabwean Personal Accident Insurance - Penetration (%), 2016-2021
Figure 33: Zimbabwean Health Insurance - Gross Written Premium (US$ Million), 2012-2015
Figure 34: Zimbabwean Health Insurance - Gross Written Premium (US$ Billion), 2017-2021
Figure 35: Zimbabwean Health Insurance - Penetration (%), 2012-2015
Figure 36: Zimbabwean Health Insurance - Penetration (%), 2017-2021
Figure 37: Zimbabwean Reinsurance - Premium Ceded by Insurance Segment (US$ Million), 2012-2021
Figure 38: Zimbabwean Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2021
Figure 39: Zimbabwean Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2021
Figure 40: Zimbabwean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2021
Figure 41: Zimbabwean Life Insurance - Market Shares of Leading Insurers (%), 2016
Figure 42: Zimbabwean Non-Life Insurance - Market Shares of Leading Insurers (%), 2016
Figure 43: Zimbabwean Reinsurance - Market Shares of Leading Insurers (%), 2016
Figure 44: Insurance Supervision and Control at Various Levels
Figure 45: Zimbabwe - Insurance Regulatory Frameworks for Company Registration and Operation
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  • Old Mutual Zimbabwe
  • Nyaradzo Funeral Assurance Company
  • First Mutual Life Assurance Company
  • Alliance Insurance Company
  • Nicoz Diamond Insurance Company
  • Zimnat Lion Insurance Company
  • FMRE Property & Casualty Company
  • ZB Reinsurance Company
  • FBC Reinsurance Company
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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