Insurance Industry in Namibia: Key Trends and Opportunities to 2016 The Namibian insurance industry grew in written premium value at a compound annual growth rate (CAGR) of 13.1% The Namibian insurance industry is dominated by the life segment, which accounted for 70.2% of overall gross written premiums in 2011. The overall Namibian insurance industry is highly concentrated, with 17 insurers and one reinsurer operating in 2011. The life segment is highly concentrated, with the top five companies accounting for 87% of the overall net written premium in 2010. In the Namibian insurance industry, there are no effective distribution channels which can help to expand the non-life segment business more efficiently. Key Highlights - The Namibian insurance industry grew in written premium value at a compound annual growth rate (CAGR) of 13.1% during the review period. - The Namibian insurance industry is dominated by the life segment, which accounted for 70.2% of overall gross written premiums in 2011. - The overall Namibian insurance industry is highly concentrated, with 17 insurers and one reinsurer operating in 2011. - The life segment is highly concentrated, with the top five companies accounting for 87% of the overall net written premium in 2010. - In the Namibian insurance industry, there are no effective distribution channels which can help to expand the non-life segment business more efficiently. heraldonline
Posted on: Tue, 16 Jul 2013 10:11:41 +0000
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