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The Insurance Industry in Cape Verde, Key Trends and Opportunities to 2017

Timetric
Published Date » 2013-03-22
No. Of Pages » 90
Synopsis

The report provides in depth market analysis, information and insights into the insurance industry in Cape Verde, including:
  • The Cape Verdean insurance industrys growth prospects by insurance segments and categories 
  • The current trends and drivers of the Cape Verde insurance industry
  • The challenges facing the Cape Verde insurance industry
  • The regulatory framework of the Cape Verde insurance industry
Summary

Fuelled by stable economic development and increased demand for personal accident and mortgage loan related insurance, the Cape Verdean insurance industry registered positive growth during the review period. 

The insurance industry remained unaffected by the global financial crisis and grew in terms of written premium value during the review period. Insurers generally cede some proportion of their revenues with reinsurance providers in order to avoid financial losses in times of stock market collapse, financial crisis or other unforeseen events. Cape Verdean insurance providers tend to retain a large proportion of their revenues and cede less to reinsurance providers.

Scope

This report provides a comprehensive analysis of the insurance industry in Cape Verde:
  • It provides historical values for the Cape Verdean insurance industry for the reports 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 Cape Verdean 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 profiles the top insurance companies in Cape Verde and outlines the key regulations affecting them
Reasons To Buy

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

  • The Cape Verdean insurance industry registered positive growth during the review period, fuelled by stable economic development and increased demand for personal accident and mortgage loan related insurance
  • The industrys growth was further supported by the significant growth registered in the life insurance segment
  • The country is likely to achieve its eight Millennium Development Goals (MDGs), which aimed to reduce extreme poverty, provide universal private education and provide a robust social security system to Cape Verdes citizens
  • These factors, alongside the countrys continued stable economic development, are projected to benefit the insurance business over the forecast period
  • The Cape Verdean insurance industry is very small and highly concentrated, with the presence of only two insurance providers and three insurance brokers
Table of Content

1 Executive Summary

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

3 Cape Verdean Insurance Industry Overview
3.1 Cape Verdean Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
3.4 Regulation

4 Industry Segmentation
4.1 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 Macroeconomic Indicators
5.1 GDP at Constant Prices (US$)
5.2 GDP per Capita at Constant Prices (US$)
5.3 GDP at Current Prices (US$)
5.4 Inflation Rate (%)
5.5 Exports as a Percentage of GDP
5.6 Imports as a Percentage of GDP
5.7 Healthcare Expenditure (% of GDP)
5.8 Healthcare Expenditure per Capita
5.9 Total Population

6 Appendix
6.1 Methodology
6.2 Contact Us
6.3 About Timetric
6.4 Disclaimer

List of Tables


Table 1: Insurance Industry Definitions
Table 2: Cape Verdean Insurance Overall Written Premium by Segment (CVE Million), 2008-2012
Table 3: Cape Verdean Insurance Overall Written Premium by Segment (US$ Million), 2008-2012
Table 4: Cape Verdean Insurance Overall Written Premium by Segment (CVE Million), 2012-2017
Table 5: Cape Verdean Insurance Overall Written Premium by Segment (US$ Million), 2012-2017
Table 6: Cape Verdean Insurance Segmentation (% Share), 2008-2017
Table 7: Cape Verdean Life Insurance - Written Premium (CVE Million), 2008-2012
Table 8: Cape Verdean Life Insurance - Written Premium (CVE Million), 2012-2017
Table 9: Cape Verdean Life Insurance - Paid Claims (CVE Million), 2008-2012
Table 10: Cape Verdean Life Insurance - Paid Claims (CVE Million), 2012-2017
Table 11: Cape Verdean Life Insurance - Incurred Loss (CVE Million), 2008-2012
Table 12: Cape Verdean Life Insurance - Incurred Loss (CVE Million), 2012-2017
Table 13: Cape Verdean Life Insurance - Loss Ratio (%), 2008-2012
Table 14: Cape Verdean Life Insurance - Loss Ratio (%), 2012-2017
Table 15: Cape Verdean Life Insurance - Combined Ratio (%), 2008-2012
Table 16: Cape Verdean Life Insurance - Combined Ratio (%), 2012-2017
Table 17: Cape Verdean Life Insurance - Retentions (CVE Million), 2008-2012
Table 18: Cape Verdean Life Insurance - Retentions (CVE Million), 2012-2017
Table 19: Cape Verdean Non-Life Insurance Written Premium by Category (CVE Million), 2008-2012
Table 20: Cape Verdean Non-Life Insurance Written Premium by Category (US$ Million), 2008-2012
Table 21: Cape Verdean Non-Life Insurance Written Premium by Category (CVE Million), 2012-2017
Table 22: Cape Verdean Non-Life Insurance Written Premium by Category (US$ Million), 2012-2017
Table 23: Cape Verdean Non-Life Insurance - Paid Claims (CVE Million), 2008-2012
Table 24: Cape Verdean Non-life Insurance - Paid Claims (CVE Million), 2012-2017
Table 25: Cape Verdean Non-Life Insurance Segment- Incurred Loss (CVE Million), 2008-2012
Table 26: Cape Verdean Non-Life Insurance Segment- Incurred Loss (CVE Million), 2012-2017
Table 27: Cape Verdean Non-Life Insurance - Loss Ratio (%), 2008-2012
Table 28: Cape Verdean Non-Life Insurance - Loss Ratio (%), 2012-2017
Table 29: Cape Verdean Non-Life Insurance - Combined Ratio (%), 2008-2012
Table 30: Cape Verdean Non-Life Insurance - Combined Ratio (%), 2012-2017
Table 31: Cape Verdean Non-Life Insurance - Retentions (CVE Million), 2008-2012
Table 32: Cape Verdean Non-Life Insurance - Retentions (CVE Million), 2012-2017
Table 33: Cape Verdean Property Insurance Category - Written Premium (CVE Million), 2008-2012
Table 34: Cape Verdean Property Insurance Category - Written Premium (CVE Million), 2012-2017
Table 35: Cape Verdean Motor Insurance Category - Written Premium (CVE Million), 2008-2012
Table 36: Cape Verdean Motor Insurance Category - Written Premium (CVE Million), 2012-2017
Table 37: Cape Verdean Liability Insurance Category - Written Premium (CVE Million), 2008-2012
Table 38: Cape Verdean Liability Insurance Category - Written Premium (CVE Million), 2012-2017
Table 39: Cape Verdean Marine, Aviation and Transit Insurance Category - Written Premium (CVEMillion), 2008-2012
Table 40: Cape Verdean Marine, Aviation and Transit Insurance Category - Written Premium (CVEMillion), 2012-2017
Table 41: Cape Verdean Personal Accident and Health Insurance - Written Premium (CVE Million), 2008-2012
Table 42: Cape Verdean Personal Accident and Health Insurance - Written Premium (CVE Million), 2012-2017
Table 43: Cape Verdean Personal Accident and Health Insurance - Paid Claims (CVEMillion), 2008-2012
Table 44: Cape Verdean Personal Accident and Health Insurance- Paid Claims (CVE Million), 2012-2017
Table 45: Cape Verdean Personal Accident and Health Insurance - Incurred Loss (CVEMillion), 2008-2012
Table 46: Cape Verdean Personal Accident and Health Insurance - Incurred Loss (CVEMillion), 2012-2017
Table 47: Cape Verdean Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 48: Cape Verdean Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 49: Cape Verdean Personal Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 50: Cape Verdean Personal Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 51: Cape Verdean Personal Accident and Health Insurance - Retentions (CVE Million), 2008-2012
Table 52: Cape Verdean Personal Accident and Health Insurance - Retentions (CVE Million), 2012-2017
Table 53: Cape Verdean Reinsurance Ceded by Insurance Segment (CVE Million), 2008-2012
Table 54: Cape Verdean Reinsurance Ceded by Insurance Segment (US$ Million), 2008-2012
Table 55: Cape Verdean Reinsurance Ceded by Insurance Segments (CVE Million), 2012-2017
Table 56: Cape Verdean Reinsurance Ceded by Insurance Segments (US$ Million), 2012-2017
Table 57: Cape Verdean Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 58: Cape Verdean Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 59: Cape Verdean Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 60: Cape Verdean Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 61: Cape Verdean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 62: Cape Verdean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017

List of Figures


Figure 1: Cape Verdean Insurance Overall Written Premium by Segment (CVE Million), 2008-2017
Figure 2: Cape Verdean Insurance Market Dynamics by Segment, 2008-2017
Figure 3: Cape Verdean Life Insurance - Written Premium (CVE Million), 2008-2012
Figure 4: Cape Verdean Life Insurance- Written Premium (CVE Million), 2012-2017
Figure 5: Cape Verdean Life Insurance - Paid Claims (CVE Million), 2008-2012
Figure 6: Cape Verdean Life Insurance - Paid Claims (CVE Million), 2012-2017
Figure 7: Cape Verdean Life Insurance - Incurred Loss (CVE Million), 2008-2012
Figure 8: Cape Verdean Life Insurance - Incurred Loss (CVE Million), 2012-2017
Figure 9: Cape Verdean Life Insurance - Loss Ratio (%), 2008-2012
Figure 10: Cape Verdean Life Insurance - Loss Ratio (%), 2012-2017
Figure 11: Cape Verdean Life Insurance - Combined Ratio (%), 2008-2012
Figure 12: Cape Verdean Life Insurance - Combined Ratio (%), 2012-2017
Figure 13: Cape Verdean Life Insurance - Retentions (CVE Million), 2008-2012
Figure 14: Cape Verdean Life Insurance - Retentions (CVE Million), 2012-2017
Figure 15: Cape Verdean Life Insurance Penetration (% of GDP), 2008-2012
Figure 16: Cape Verdean Life Insurance - Premium Per-capita (CVE), 2008-2012
Figure 17: Cape Verdean Non-Life Insurance Written Premium by Category (CVE Million), 2008-2017
Figure 18: Cape Verdean Non-Life Insurance Written Premium by Category (% Share), 2012 and 2017
Figure 19: Cape Verdean Non-Life Insurance Market Dynamics by Category, 2008-2017
Figure 20: Cape Verdean Non-Life Insurance - Paid Claims (CVE Million), 2008-2012
Figure 21: Cape Verdean Non-life Insurance - Paid Claims (CVE Million), 2012-2017
Figure 22: Cape Verdean Non-Life Insurance - Incurred Loss (CVE Million), 2008-2012
Figure 23: Cape Verdean Non-Life Insurance - Incurred Loss (CVE Million), 2012-2017
Figure 24: Cape Verdean Non-Life Insurance - Loss Ratio (%), 2008-2012
Figure 25: Cape Verdean Non-Life Insurance - Loss Ratio (%), 2012-2017
Figure 26: Cape Verdean Non-Life Insurance - Combined Ratio (%), 2008-2012
Figure 27: Cape Verdean Non-Life Insurance - Combined Ratio (%), 2012-2017
Figure 28: Cape Verdean Non-Life Insurance - Retentions (CVE Million), 2008-2012
Figure 29: Cape Verdean Non-Life Insurance - Retentions (US$ Million), 2012-2017
Figure 30: Cape Verdean Non-Life Insurance Penetration (% of GDP), 2008-2012
Figure 31: Cape Verdean Non-Life Insurance - Premium per Capita (CVE), 2008-2012
Figure 32: Cape Verdean Property Insurance Category - Written Premium (CVE Million), 2008-2012
Figure 33: Cape Verdean Property Insurance Category - Written Premium (CVE Million), 2012-2017
Figure 34: Cape Verdean Motor Insurance Category - Written Premium (CVE Million), 2008-2012
Figure 35: Cape Verdean Motor Insurance Category - Written Premium (CVE Million), 2012-2017
Figure 36: Cape Verdean Liability Insurance Category - Written Premium (CVE Million), 2008-2012
Figure 37: Cape Verdean Liability Insurance Category - Written Premium (CVE Million), 2012-2017
Figure 38: Cape Verdean Marine, Aviation and Transit Insurance Category - Written Premium (CVE Million), 2008-2012
Figure 39: Cape Verdean Marine, Aviation and Transit Insurance Category - Written Premium (CVEMillion), 2012-2017
Figure 40: Cape Verdean Personal Accident and Health Insurance - Written Premium (CVEMillion), 2008-2012
Figure 41: Cape Verdean Personal Accident and Health Insurance Segment - Written Premium (CVE Million), 2012-2017
Figure 42: Cape Verdean Personal Accident and Health Insurance - Paid Claims (CVE Million), 2008-2012
Figure 43: Cape Verdean Personal Accident and Health Insurance - Paid Claims (CVE Million), 2012-2017
Figure 44: Cape Verdean Personal Accident and Health Insurance - Incurred Loss (CVE Million), 2008-2012
Figure 45: Cape Verdean Personal Accident and Health Insurance - Incurred Loss (CVE Million), 2012-2017
Figure 46: Cape Verdean Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Figure 47: Cape Verdean Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Figure 48: Cape Verdean Personal Accident and Health Insurance - Combined Ratio (%), 2008-2012
Figure 49: Cape Verdean Personal Accident and Health Insurance - Combined Ratio (%), 2012-2017
Figure 50: Cape Verdean Personal Accident and Health Insurance - Retentions (CVE Million), 2008-2012
Figure 51: Cape Verdean Personal Accident and Health Insurance - Retentions (US$ Million), 2012-2017
Figure 52: Cape Verdean Personal Accident and Health Insurance Penetration (% of GDP), 2008-2012
Figure 53: Cape Verdean Personal Accident and Health Insurance - Premium per Capita (CVE), 2008-2012
Figure 54: Cape Verdean Reinsurance Ceded by Insurance Segments (CVE Million), 2008-2017
Figure 55: Cape Verdean Reinsurance Market Dynamics by Insurance Segments, 2008-2017
Figure 56: Cape Verdean Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 57: Cape Verdean Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 58: Cape Verdean Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 59: Cape Verdean Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 60: Cape Verdean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 61: Cape Verdean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 62: Cape Verdean GDP at Constant Prices (US$ Billion), 2007-2011
Figure 63: Cape Verdean GDP per Capita at Constant Prices (US$), 2007-2011
Figure 64: Cape Verdean GDP at Current Prices (US$ Billion), 2007-2011
Figure 65: Cape Verdean Inflation Rate (%), 2007-2011
Figure 66: Cape Verdean Exports as a Percentage of GDP (%), 2007-2011
Figure 67: Cape Verdean Imports as a Percentage of GDP (%), 2007-2011
Figure 68: Cape Verdean Healthcare Expenditure (% of GDP), 2007-2011
Figure 69: Cape Verdean Healthcare Expenditure per Capita (US$), 2007-2011
Figure 70: Cape Verdean Total Population (Million), 2007-2011

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