866-997-4948 (US-Canada Toll Free)

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

Published By :

Timetric

Published Date : 2013-03-26

Category :

Insurance

No. of Pages : 103

Product Synopsis

Synopsis

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

Malawi has a small and growing insurance industry which encompasses a population of 16.63 million. It grew at a positive growth rate during the review period, recording a CAGR of 14.2% in terms of written premium value. The Malawian insurance industry is regulated by the registrar of Reserve Bank of Malawi (RBM), which is responsible for exerting control over the insurance and allied activities performed by all entities in the industry, including insurance companies, reinsurance companies, insurance brokers, loss adjusters and intermediaries. 

Over the forecast period, the insurance industry is expected to be driven by the growing economy and consistent efforts by the regulatory authority such as introduction of new directives to facilitate necessary upgradation. However, falling profitability and a low penetration rate will be the major challenges faced by Malawian insurers.

Scope

This report provides a comprehensive analysis of the insurance industry in Malawi:
  • It provides historical values for the Malawian 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 Malawian 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 Malawi 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 Malawian insurance industry and each segment within it
  • Assess the competitive dynamics in the Malawian insurance industry
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Malawian insurance industry
  • Identify the growth opportunities and market dynamics within key segments
  • Gain insights into key regulations governing the Malawian insurance industry and its impact on companies and the industry's future
Key Highlights

  • Malawi has a small and growing insurance industry which encompasses a population of 16.63 million
  • The performance of the group life insurance category in the life insurance segment was exceptional in 2011, due to the rise in the number of group life insurance policies
  • The group life category is expected to drive the life insurance segment over the forecast period
  • The agricultural sector continues to be the main driver of the Malawian economy
  • Increased tobacco production will further increase exports from Malawi over the forecast period, resulting in positive growth in the insurance industry, supported by the promotion of marine and transit insurance

Table Of Content

Table of Content

1 Executive Summary

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

3 Malawian Insurance Industry Overview
3.1 Malawian 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 category
4.2.2 Motor insurance category
4.2.3 Liability insurance category
4.2.4 Marine, aviation and transit insurance category
4.3 Personal Accident and Health Insurance
4.4 Reinsurance

5 Competitive Landscape
5.1 Overview
5.2 Leading Companies
5.2.1 NICO General Insurance Co - company overview
5.2.2 United General Insurance (UGI) - company overview
5.2.3 Old Mutual - company overview
5.2.4 Vanguard Life Assurance - company overview
5.2.5 REAL Insurance Company - company overview
5.2.6 General Alliance Insurance (GAI) - company overview

6 Macroeconomic Indicators
6.1 GDP at Constant Prices (US dollar)
6.2 GDP Per Capita at Constant Prices (US dollar)
6.3 GDP at Current Prices (US dollar)
6.4 Construction Output at Current Prices (US$ Million)
6.5 Arable Land
6.6 Exports as a Percentage of GDP
6.7 Healthcare Expenditure Per Capita
6.8 Employed Population
6.9 Inflation Rate
6.1 Total Population

7 Appendix
7.1 Methodology
7.2 Contact Us
7.3 About Timetric
7.4 Disclaimer

List of Tables


Table 1: Insurance Industry Definitions
Table 2: Malawian Insurance Overall Written Premium by Segment (MWK Billion), 2008-2012
Table 3: Malawian Insurance Overall Written Premium by Segment (US$ Million), 2008-2012
Table 4: Malawian Insurance Overall Written Premium by Segment (MWK Billion), 2012-2017
Table 5: Malawian Insurance Overall Written Premium by Segment (US$ Million), 2012-2017
Table 6: Malawian Insurance Segmentation (% Share), 2008-2017
Table 7: Malawian Life Insurance - Paid Claims (MWK Billion), 2008-2012
Table 8: Malawian Life Insurance - Paid Claims (MWK Billion), 2012-2017
Table 9: Malawian Life Insurance - Incurred Loss (MWK Billion), 2008-2012
Table 10: Malawian Life Insurance - Incurred Loss (MWK Billion), 2012-2017
Table 11: Malawian Life Insurance - Loss Ratio (%), 2008-2012
Table 12: Malawian Life Insurance - Loss Ratio (%), 2012-2017
Table 13: Malawian Life Insurance - Combined Ratio (%), 2008-2012
Table 14: Malawian Life Insurance - Combined Ratio (%), 2012-2017
Table 15: Malawian Life Insurance - Total Assets (MWK Billion), 2008-2012
Table 16: Malawian Life Insurance - Total Assets (MWK Billion), 2012-2017
Table 17: Malawian Life Insurance - Retentions (MWK Billion), 2008-2012
Table 18: Malawian Life Insurance - Retentions (MWK Billion), 2012-2017
Table 19: Malawian Non-Life Insurance Written Premium by Category (MWK Billion), 2008-2012
Table 20: Malawian Non-Life Insurance Written Premium by Category (US$ Million), 2008-2012
Table 21: Malawian Non-Life Insurance Written Premium by Category (MWK Billion), 2012-2017
Table 22: Malawian Non-Life Insurance Written Premium by Category (US$ Million), 2012-2017
Table 23: Malawian Non-Life Insurance - Paid Claims (MWK Billion), 2008-2012
Table 24: Malawian Non-Life Insurance - Paid Claims (MWK Billion), 2012-2017
Table 25: Malawian Non-Life Insurance - Incurred Loss (MWK Billion), 2008-2012
Table 26: Malawian Non-Life Insurance - Incurred Loss (MWK Billion), 2012-2017
Table 27: Malawian Non-Life Insurance - Loss Ratio (%), 2008-2012
Table 28: Malawian Non-Life Insurance - Loss Ratio (%), 2012-2017
Table 29: Malawian Non-Life Insurance - Combined Ratio (%), 2008-2012
Table 30: Malawian Non-Life Insurance - Combined Ratio (%), 2012-2017
Table 31: Malawian Non-Life Insurance - Total Assets (MWK Billion), 2008-2012
Table 32: Malawian Non-Life Insurance - Total Assets (MWK Billion), 2012-2017
Table 33: Malawian Non-Life Insurance - Retentions (MWK Billion), 2008-2012
Table 34: Malawian Non-Life Insurance - Retentions (MWK Billion), 2012-2017
Table 35: Malawian Property Insurance Category - Written Premium (MWK Billion), 2008-2012
Table 36: Malawian Property Insurance Category - Written Premium (MWK Billion), 2012-2017
Table 37: Malawian Motor Insurance Category - Written Premium (MWK Billion), 2008-2012
Table 38: Malawian Motor Insurance Category - Written Premium (MWK Billion), 2012-2017
Table 39: Malawian Liability Insurance Category - Written Premium (MWK Billion), 2008-2012
Table 40: Malawian Liability Insurance Category - Written Premium (MWK Billion), 2012-2017
Table 41: Malawian Marine, Aviation and Transit Insurance Category - Written Premium (MWK Billion), 2008-2012
Table 42: Malawian Marine, Aviation and Transit Insurance Category - Written Premium (MWK Billion), 2012-2017
Table 43: Malawian Personal Accident and Health Insurance - Paid Claims (MWK Billion), 2008-2012
Table 44: Malawian Personal Accident and Health Insurance - Paid Claims (MWK Billion), 2012-2017
Table 45: Malawian Personal Accident and Health Insurance - Incurred Loss (MWK Billion), 2008-2012
Table 46: Malawian Personal Accident and Health Insurance - Incurred Loss (MWK Billion), 2012-2017
Table 47: Malawian Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 48: Malawian Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 49: Malawian Personal Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 50: Malawian Personal Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 51: Malawian Personal Accident and Health Insurance - Total Assets (MWK Billion), 2008-2012
Table 52: Malawian Personal Accident and Health Insurance - Total Assets (MWK Billion), 2012-2017
Table 53: Malawian Personal Accident and Health Insurance - Retentions (MWK Billion), 2008-2012
Table 54: Malawian Personal Accident and Health Insurance - Retentions (MWK Billion), 2012-2017
Table 55: Malawian Reinsurance Ceded by Insurance Segment (MWK Billion), 2008-2012
Table 56: Malawian Reinsurance Ceded by Insurance Segment (US$ Million), 2008-2012
Table 57: Malawian Reinsurance Ceded by Insurance Segment (MWK Billion), 2012-2017
Table 58: Malawian Reinsurance Ceded by Insurance Segment (US$ Million), 2012-2017
Table 59: Malawian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 60: Malawian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 61: Malawian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 62: Malawian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 63: Malawian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 64: Malawian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 65: Malawian Insurance Operators, 2011
Table 66: Malawian Life Insurance Market Share (%), 2011
Table 67: Malawian Non-Life Insurance Market Share (%), 2011
Table 68: NICO General Insurance, Main Products
Table 69: NICO General Insurance, Key Employees
Table 70: UGI, Main Products
Table 71: UGI, Key Employees
Table 72: Old Mutual, Main Products
Table 73: Old Mutual, Key Employees
Table 74: Vanguard, Main Products
Table 75: Vanguard, Key Employees
Table 76: REAL, Main Products
Table 77: REAL, Key Employees
Table 78: GAI, Main Products
Table 79: GAI, Key Employees

List of Figures


Figure 1: Malawian Insurance Overall Written Premium by Segment (MWK Billion), 2008-2017
Figure 2: Malawian Insurance Industry Dynamics by Segment (%), 2008-2017
Figure 3: Malawian Life Insurance - Paid Claims (MWK Billion), 2008-2012
Figure 4: Malawian Life Insurance - Paid Claims (MWK Billion), 2012-2017
Figure 5: Malawian Life Insurance - Incurred Loss (MWK Billion), 2008-2012
Figure 6: Malawian Life Insurance - Incurred Loss (MWK Billion), 2012-2017
Figure 7: Malawian Life Insurance - Loss Ratio (%), 2008-2012
Figure 8: Malawian Life Insurance - Loss Ratio (%), 2012-2017
Figure 9: Malawian Life Insurance - Combined Ratio (%), 2008-2012
Figure 10: Malawian Life Insurance - Combined Ratio (%), 2012-2017
Figure 11: Malawian Life Insurance - Total Assets (MWK Billion), 2008-2012
Figure 12: Malawian Life Insurance - Total Assets (MWK Billion), 2012-2017
Figure 13: Malawian Life Insurance - Retentions (MWK Billion), 2008-2012
Figure 14: Malawian Life Insurance - Retentions (MWK Billion), 2012-2017
Figure 15: Malawian Life Insurance - Premium Per Capita (MWK), 2008-2012
Figure 16: Malawian Non-Life Insurance Written Premium by Category (MWK Billion), 2008-2017
Figure 17: Malawian Non-Life Insurance Written Premium by Category (%), 2012 and 2017
Figure 18: Malawian Non-Life Insurance Segment Dynamics by Category (%), 2008-2017
Figure 19: Malawian Non-Life Insurance - Paid Claims (MWK Billion), 2008-2012
Figure 20: Malawian Non-Life Insurance - Paid Claims (MWK Billion), 2012-2017
Figure 21: Malawian Non-Life Insurance - Incurred Loss (MWK Billion), 2008-2012
Figure 22: Malawian Non-Life Insurance - Incurred Loss (MWK Billion), 2012-2017
Figure 23: Malawian Non-Life Insurance - Loss Ratio (%), 2008-2012
Figure 24: Malawian Non-Life Insurance - Loss Ratio (%), 2012-2017
Figure 25: Malawian Non-Life Insurance - Combined Ratio (%), 2008-2012
Figure 26: Malawian Non-Life Insurance - Combined Ratio (%), 2012-2017
Figure 27: Malawian Non-Life Insurance - Total Assets (MWK Billion), 2008-2012
Figure 28: Malawian Non-Life Insurance - Total Assets (MWK Billion), 2012-2017
Figure 29: Malawian Non-Life Insurance - Retentions (MWK Billion), 2008-2012
Figure 30: Malawian Non-Life Insurance - Retentions (MWK Million), 2012-2017
Figure 31: Malawian Non-Life Insurance Penetration (% of GDP), 2008-2012
Figure 32: Malawian Non-Life Insurance - Premium Per Capita (MWK), 2008-2012
Figure 33: Malawian Property Insurance Category - Written Premium (MWK Billion), 2008-2012
Figure 34: Malawian Property Insurance Category - Written Premium (MWK Billion), 2012-2017
Figure 35: Malawian Motor Insurance Category - Written Premium (MWK Billion), 2008-2012
Figure 36: Malawian Motor Insurance Category - Written Premium (MWK Billion), 2012-2017
Figure 37: Malawian Liability Insurance Category - Written Premium (MWK Billion), 2008-2012
Figure 38: Malawian Liability Insurance Category - Written Premium (MWK Billion), 2012-2017
Figure 39: Malawian Marine, Aviation and Transit Insurance Category - Written Premium (MWK Billion), 2008-2012
Figure 40: Malawian Marine, Aviation and Transit Insurance Category - Written Premium (MWK Billion), 2012-2017
Figure 41: Malawian Personal Accident and Health Insurance - Paid Claims (MWK Billion), 2008-2012
Figure 42: Malawian Personal Accident and Health Insurance - Paid Claims (MWK Billion), 2012-2017
Figure 43: Malawian Personal Accident and Health Insurance - Incurred Loss (MWK Billion), 2008-2012
Figure 44: Malawian Personal Accident and Health Insurance - Incurred Loss (MWK Billion), 2012-2017
Figure 45: Malawian Personal Accident and Health Insurance - Loss Ratio (%), 2008-2012
Figure 46: Malawian Personal Accident and Health Insurance - Loss Ratio (%), 2012-2017
Figure 47: Malawian Personal Accident and Health Insurance - Combined Ratio (%), 2008-2012
Figure 48: Malawian Personal Accident and Health Insurance - Combined Ratio (%), 2012-2017
Figure 49: Malawian Personal Accident and Health Insurance - Total Assets (MWK Billion), 2008-2012
Figure 50: Malawian Personal Accident and Health Insurance - Total Assets (MWK Billion), 2012-2017
Figure 51: Malawian Personal Accident and Health Insurance - Retentions (MWK Billion), 2008-2012
Figure 52: Malawian Personal Accident and Health Insurance - Retentions (MWK Million), 2012-2017
Figure 53: Malawian Personal Accident and Health Insurance Penetration (% of GDP), 2008-2012
Figure 54: Malawian Personal Accident and Health Insurance - Premium Per Capita (MWK), 2008-2012
Figure 55: Malawian Reinsurance Ceded by Insurance Segment (MWK Billion), 2008-2017
Figure 56: Malawian Reinsurance Industry Dynamics by Insurance Segment (%), 2008-2017
Figure 57: Malawian Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 58: Malawian Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 59: Malawian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 60: Malawian Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 61: Malawian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Figure 62: Malawian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Figure 63: Malawian Life Insurance Market Share (%), 2011
Figure 64: Malawian Non-Life Insurance Market Share (%), 2011
Figure 65: Malawian GDP at Constant Prices (US$ Million), 2007-2011
Figure 66: Malawian GDP Per Capita at Constant Prices (US$), 2007-2011
Figure 67: Malawian GDP at Current Prices (US$ Million), 2007-2011
Figure 68: Malawian Construction Net Output at Current Prices (US$ Million), 2007-2011
Figure 69: Malawian Arable Land (Hectares per Person), 2007-2011
Figure 70: Malawian Exports as a Percentage of GDP (%), 2007-2011
Figure 71: Malawian Healthcare Expenditure Per Capita (US$), 2007-2011
Figure 72: Malawian Employed Population (Million), 2007-2011
Figure 73: Malawian Inflation Rate (%), 2007-2011
Figure 74: Malawian Total Population (Million), 2007-2011

Make an enquiry before buying this Report

Please fill the enquiry form below.

  • Full Name *
  • Your Email *
  • Job Title
  • Phone No. * (Pls. Affix Country Code)
  • Message
  • Security Code *

Upcoming Reports

  • Bio-Based Propylene Glycol Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019

    By - Transparency

    Propylene glycol or 1, 2-propane-diol is one of the universal product that is used in modern life and is practically everywhere. It is derived industrially by processing petroleum products and has a very high demand due to which the global consumption of petroleum has increased by thousand metric tons per year. Propylene Glycol (PG) is used in a broad range of products; it can be found in fiberglass resins, antifreezes, foods, pharmaceuticals and cosmetics.  Propylene glycol has been prepared by petroleum stocks but now days it is derived from corn starch and a special carbohydrate...

  • Inorganic Functional Materials Market - Global Industry Analysis, Size, Share, Trends And Forecast 2014 - 2020

    By - Transparency

    Inorganic functional materials are predominantly used in the electrical and electronic industries.  Inorganic functional materials typically comprise boron compound, aluminum compound, copper compound, indium compound, gallium compound, manganese compound, lithium compound, titanium compound, silicon compound and zinc compound among others. These inorganic functional materials are largely used in industries such as electronic equipment manufacturing, electronic devices and printed circuit boards manufacturing, smart packaging and smart labels production among others. The growing...

  • Poland: market of rods and flat bars

    By - Williams and Marshal Strategy

    ort presents an elaborate overview of the main market participants, the price fluctuations, the growth and demand drivers of the market and the factors, influencing its development. Last but not least, the report presents a general overview of the economy of Poland in 2008-2012 and a forecast for its development in the medium term. The report on the rods and flat bars market in Poland includes: Analysis and dynamics of the economy of Poland; Forecast for the development of the economy of Poland; Analysis and forecast of market volume and dynamics; Volume, dynamics and analysis of...