ResearchMoz

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

Timetric
Published Date » 2013-03-26
No. Of Pages » 103
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

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

Upcoming Reports:

Merchant-Paid Rewards Market: Industry Analysis, Market Size, Share, Trends, Growth And Forecast, 2011 - 2018
By - Transparency Market Research
Debit card users are increasing in number as compared to credit card users. Use of debit card allows the consumers to save money for future use as they know how much money they have and how much money they have to spend. This trend leads to the growth of merchant paid reward programs. Credit cards do not give customers this privilege as they pay later for whatever they have purchased. Merchant-paid programs persuade customers to use their debit cards rather than credit cards or paper coupons. Merchant paid programs are gaining popularity in the market as it offers...
Beer Market - Global Industry Size, Market Share, Trends, Analysis And Forecasts, 2012 - 2018
By - Transparency Market Research
Beer, an alcoholic beverage, is made through the process of fermentation and brewing of starch from malted barley. This industry involves production, distribution and sale of beer in the market. The beer market consists of retail sales of bitters, ales and stouts. It is categorized into four categories - low/no alcohol beers, premium lager, specialty beers and standard lager.  This market is valued according to the retail selling price of the products and also includes certain taxes.  Three prominent brewers in this sector are South African breweries’...
Yeast Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
By - Transparency Market Research
Yeast is one of the most commonly used microorganisms in the manufacturing of food and beverages. Yeast is used in the process of fermentation for its abilities in aiding carbon - release, imparting better aroma, taste, texture, and flavor to food. Yeast is considered as one of the most consistent fermenting agents in spite of various other chemical fermentation agents available in the market.  The global yeast market by types can be segmented as global specialty yeast market, yeast extract market, autolyzed yeast market, supplement yeast market, and yeast...

Research Assistance

We will be happy to help you find what you need.
Please call us or write us:

866-997-4948 (Us-Canada Toll Free)
Tel: +1-518-618-1030
Email: sales@researchmoz.us
Select License type:

Share this report

Related News

Scientists Identify Cure for Dengue
Apr 18, 2014  
In a breakthrough discovery that can change the way dengue is treated, scientists have identified a drug target for the deadly dengue viruses. This discovery may help pave the way for discovery of vaccines that can cure this condition that affects nearly 390 million people throughout the world each year.  Scientists have used a new technique for this discovery to show that a region...
India is Facing a Cancer Crisis
Apr 15, 2014  
India is currently facing a cancer crisis – reports a recent research carried out at the King’s college London, in collaboration with the Tata Memorial Cancer Centre, Mumbai.  The reasons estimated for this crisis comprise of increasing rates of smoking, unequal access to proper treatment and belated diagnosis.  Every year, India witnesses around one...
Microparticle Tags to Check Counterfeit Goods Invented
Apr 14, 2014  
Researchers from the Massachusetts Institute of Technology have invented a new set of microparticles that can easily be read by smartphones and establish the authenticity of currency, electronic items and luxury goods.  This strategy is among those countless measures taken by big brands and companies to label their legitimate products in order to stop illegal copies of the...
USFDA Approves Lupins Generic Diabetic Drug
Apr 10, 2014  
The United States Food and Drugs Administration (USFDA) has finally approved Lupin Pharmaceuticals Inc (LPI), the American subsidiary of Indian drug manufacturers Lupin Ltd, to sell Pioglitazone Tablets in the U.S market. The approval has been granted first for fiscal 2015.  Pioglitazone is a generic medicine used for managing diabetes and is a version of Actos tablets...
Infrared Sensors can Soon Be Used to Develop Night-Vision Lenses - A New Discovery Confirms
Apr 8, 2014  
People who fear the dark may soon have a reason to rejoice – an infrared sensor that can eventually be used for mechanizing night-vision lenses has been developed. This effectively means that one can also see through dark with the help of these lenses.  This technology seems possible all due to graphene, a layer of tightly packed carbon atoms that has allowed the creation of...