Mali and Senegal Insurance Industry by brown06

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									Mali and Senegal Insurance Market Trends
and Opportunities to 2017
Synopsis

The report provides in depth market analysis, information and insights into the insurance industry in Mali
and Senegal, including:


       The Mali and Senegal insurance industry’s growth prospects by insurance segments and
        categories
       The competitive landscape in the Mali and Senegal insurance industry
       The current trends and drivers of the Mali and Senegal insurance industry
       The challenges facing the Mali and Senegal insurance industry
       The regulatory framework of the Mali and Senegal insurance industry

Senegal has a small insurance industry, which represented just 1.4% of the country’s GDP in 2011, lower
than the African average of 4.8%. The Senegalese insurance industry is the third-largest among the
Conférence Interafricaine des Marchés d'Assurances (CIMA) member states in terms of gross written
premium. There were only 19 insurance and two reinsurance companies operating in Senegal in 2011: 13
in the non-life segment and six in the life segment. The global financial crisis had an indirect effect on the
Senegal insurance industry as the country’s economy is largely dependent on exports, in
particular of cotton and peanuts. Growth in the construction industry, government initiatives towards
private spending, rising automobile sales, and an increasing tendency towards savings supported the
growth of the Senegalese insurance industry during the review period.

Key Highlights


       Senegal has a small insurance industry.
       Rising awareness of savings among the Senegalese population encouraged them towards life
        insurance savings products, which supported the insurance industry’s growth during the review
        period.
       Developments such as the new airport in Diass, and the construction 467 miles of railway to link
        mines in the south-east of the country to Dakar are expected to support the insurance industry
        over the forecast period.
       Rising healthcare costs and inadequate public healthcare services supported the growth of
        private health insurance in Senegal during the review period.
       A new IMF program in Senegal encourages private sector development in the country, and is
        expected to support the insurance industry over the forecast period.
Order a copy of Senegal Insurance Industry @
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in-senegal-key-trends-and-opportunities-to-2017.html

The insurance industry in Mali is not very developed and accounts for less than 1% of the country’s total
GDP. The Malian economy depends heavily on foreign aid and is vulnerable to fluctuations in world
prices of cotton and gold. Around 70% of the population lives in rural areas, the majority of which lives
below the poverty line. The combination of a significantly large rural population, high levels of poverty, a
low literacy rate and the highly uneven distribution of income is hindering the growth of the insurance
industry in the country. The key segment driving the overall Malian insurance industry is the non-life
insurance segment, which accounts for more than 70% of the industry’s total gross premiums. The Malian
insurance industry is under the regulation of the Conférence Internationale des Marché d’Assurances
(CIMA).

Key Highlights


         The insurance industry in Mali is not very developed and accounts for less than 1% of the
          country’s total GDP.
         The key segment driving the overall Malian insurance industry is the non-life insurance segment.
         Growth in the Malian export industry is impacting the insurance industry positively by driving
          growth in the marine and transit insurance category.
         The production of cotton in the country is recording consistent growth, leading to escalated export
          activities.
         The high unemployment rate in Mali has become a major concern for insurers in the country.
         The insurance industry in Mali is dominated by Colina Mali SA


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in-mali-key-trends-and-opportunities-to-2017.html

Scope

This report provides a comprehensive analysis of the insurance industry in Mali and Senegal:


         It provides historical values for the Mali and Senegal insurance industry for the report’s 2008–
          2012 review period and forecast figures for the 2012–2017 forecast period
         It offers a detailed analysis of the key segments and categories in the insurance industry, along
          with industry forecasts until 2017
      It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio,
       commissions and expenses, combined ratio, total assets, total investment income and retentions
      It outlines the key regulations affecting the insurance industry

Reasons to Buy


      Make strategic business decisions using in depth historic and forecast industry data related to the
       Senegalese insurance industry and each segment within it
      Understand the demand-side dynamics, key market trends and growth opportunities within the
       respective insurance industry.
      Assess the competitive dynamics in the insurance industry
      Identify the growth opportunities and market dynamics within key segments
      Gain insights into key regulations governing the insurance industry and its impact on companies
       and the industry's future

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