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Market Research Report

The Insurance Industry in Togo, Key Trends and Opportunities to 2022

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The Insurance Industry in Togo, Key Trends and Opportunities to 2022
Published: June 25, 2018 Content info: 145 Pages
Description

"The Insurance Industry in Togo, Key Trends and Opportunities to 2022", report provides detailed analysis of the market trends, drivers and challenges in the Togolese insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Togolese economy and demographics, provides detailed information on the competitive landscape and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

This report provides in-depth market analysis, information and insights into the Togolese insurance industry, including -

  • The Togolese insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Togolese economy and demographics
  • Details of the competitive landscape in the Togolese insurance industry
  • The various distribution channels in the Togolese insurance industry
  • Details of regulatory policy applicable to the Togolese insurance industry
  • Analysis of natural hazards in the Togolese insurance industry.

Key Findings:

  • In April 2018, Conference Interafricaine des Marches d'Assurances (CIMA) issued a regulation amending provisions on reserve requirements for life insurers.
  • Effective March 2018, the Togolese council of ministers issued a decree making Economic Community of West African States (ECOWAS) insurance brown cards mandatory for all vehicle owners, in addition to motor third party liability (MTPL) policies.
  • Due to the rise in mobile penetration, MNOs are playing an instrumental role in the development of microinsurance.
  • The Togolese general insurance segment is highly price competitive, due to the large low income population.

Scope:

  • This report provides a comprehensive analysis of the insurance industry in Togo.
  • It provides historical values for the Togolese insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
  • It offers a detailed analysis of the key segments in the Togolese insurance industry, with market forecasts to 2022.
  • It covers an exhaustive list of parameters, including written premium and claims.
  • It analyzes the various distribution channels in Togo.
  • It profiles the top insurance companies in Togo and outlines the key regulations affecting them.

Reasons to buy:

  • Make strategic business decisions using in-depth historic and forecast market data related to the Togolese insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Togolese insurance industry.
  • Assess the competitive dynamics in the Togolese insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Togolese insurance industry and their impact on companies and the industry's future.
Table of Contents
Product Code: IS1691MR

Table of Contents

1. Key Facts and Highlights

2. Executive Summary

3. Economy and Demographics

4. Industry Outlook

  • 4.1. Industry Indicators
    • 4.1.1. Direct written premium
    • 4.1.2. Insurance density
    • 4.1.3. Paid claims

5. Life Insurance Outlook

  • 5.1. Segment Indicators
    • 5.1.1. Direct written premium
    • 5.1.2. Penetration
    • 5.1.3. Assets and Investments

6. General Insurance Outlook

  • 6.1. Segment Indicators
    • 6.1.1. Gross written premium
    • 6.1.2. Direct written premium
    • 6.1.3. Paid claims
    • 6.1.4. Penetration
    • 6.1.5. Loss ratio
    • 6.1.6. Assets and Investments
  • 6.2. Property Insurance
    • 6.2.1. Direct written premium
    • 6.2.2. Penetration
    • 6.2.3. Profitability
  • 6.3. Motor Insurance
    • 6.3.1. Direct written premium
    • 6.3.2. Penetration
    • 6.3.3. Profitability
  • 6.4. Liability Insurance
    • 6.4.1. Direct written premium
    • 6.4.2. Penetration
    • 6.4.3. Profitability
  • 6.5. Marine, Aviation and Transit Insurance
    • 6.5.1. Direct written premium
    • 6.5.2. Penetration
    • 6.5.3. Profitability
  • 6.6. Personal Accident and Health Insurance
    • 6.6.1. Direct written premium
    • 6.6.2. Penetration
    • 6.6.3. Profitability
  • 6.7. Miscellaneous
    • 6.7.1. Direct written premium
    • 6.7.2. Penetration
    • 6.7.3. Profitability

7. Reinsurance Outlook

  • 7.1. Premium Ceded

8. Distribution Channel Outlook

9. Natural and Man-Made Hazards

10. Competitive Landscape

  • 10.1. Company Profiles
    • 10.1.1. Groupement Togolias d'Assurances Vie - company overview
    • 10.1.2. Nouvelle Societe Interafricaine d'Assurance Group - company overview
    • 10.1.3. Saham insurance- company overview
    • 10.1.4. Sunu Assurances IARD - company overview
    • 10.1.5. Groupement Togolias d'Assurances (GTA-C2A) - company overview

11. Governance, Risk and Compliance

  • 11.1. Legislation Overview and Historical Evolution
  • 11.2. Latest Changes in Regulation
  • 11.3. Legislation and Market Practice by Type of Insurance
    • 11.3.1. Life insurance
    • 11.3.2. Property insurance
    • 11.3.3. Motor insurance
    • 11.3.4. Liability insurance
    • 11.3.5. Marine, aviation and transit insurance
    • 11.3.6. Personal accident and health insurance
  • 11.4. Compulsory Insurance
    • 11.4.1. Motor third-party liability insurance
    • 11.4.2. Professional indemnity insurance for insurance intermediaries
    • 11.4.3. Worker's Compensation
  • 11.5. Supervision and Control
    • 11.5.1. International Association of Insurance Supervisors
    • 11.5.2. Commission Regional des Assurances
    • 11.5.3. Direction Nationale des Assurances
  • 11.6. Non-Admitted Insurance Regulations
    • 11.6.1. Overview
    • 11.6.2. Intermediaries
    • 11.6.3. Market practices
    • 11.6.4. Fines and Penalties
  • 11.7. Company Registration and Operations
    • 11.7.1. Type of insurance organization
    • 11.7.2. Establishing a local company
    • 11.7.3. Foreign ownership
    • 11.7.4. Types of license
    • 11.7.5. Capital requirements
    • 11.7.6. Solvency margin
    • 11.7.7. Reserve requirements
    • 11.7.8. Investment regulations
    • 11.7.9. Statutory return requirements
    • 11.7.10. Fee structure
  • 11.8. Taxation
    • 11.8.1. Insurance premium or policy taxation
    • 11.8.2. Withholding taxes on premium paid overseas
    • 11.8.3. Corporate tax
    • 11.8.4. VAT
    • 11.8.5. Captives
  • 11.9. Legal System
    • 11.9.1. Introduction
    • 11.9.2. Access to court
    • 11.9.3. Alternative dispute resolution

12. Databook

  • 12.1. Life Insurance
    • 12.1.1. Policies and premium
    • 12.1.2. Claims and expenses
    • 12.1.3. Assets and investments
  • 12.2. General Insurance
    • 12.2.1. Policies and premium
    • 12.2.2. Claims and expenses
    • 12.2.3. Assets and investments
    • 12.2.4. Property insurance
    • 12.2.5. Property insurance by category
    • 12.2.6. Motor insurance
    • 12.2.7. Motor insurance by category
    • 12.2.8. Liability insurance
    • 12.2.9. Marine, aviation and transit insurance
    • 12.2.10. Marine Aviation and Transit Insurance by category
    • 12.2.11. Personal Accident and Health Insurance
    • 12.2.12. Miscellaneous

13. Definitions and Methodology

  • 13.1. Definitions
  • 13.2. Methodology

14. About GlobalData

  • 14.1. Contact GlobalData
  • 14.2. About GlobalData
  • 14.3. GlobalData's Services
  • 14.4. Disclaimer

List of Tables

  • Table 1: Togolese Insurance Industry - Key Facts, 2017
  • Table 2: Togolese Insurance Industry - Segment Shares of the Top Insurers, 2016
  • Table 3: Togolese Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 4: Togolese Insurance Industry - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 5: Togolese Insurance Industry - Density (XOF), 2013-2017
  • Table 6: Togolese Insurance Industry - Density (XOF), 2017-2022
  • Table 7: Togolese Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2013-2017
  • Table 8: Togolese Insurance Industry - Paid Claims (XOF Billion and US$ Million), 2017-2022
  • Table 9: Togolese Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 10: Togolese Life Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 11: Togolese Life Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
  • Table 12: Togolese Life Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
  • Table 13: Togolese Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
  • Table 14: Togolese Life Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
  • Table 15: Togolese Life Insurance - Investment Portfolio (XOF Billion), 2013-2017
  • Table 16: Togolese Life Insurance - Investment Portfolio (XOF Billion), 2017-2022
  • Table 17: Togolese General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 18: Togolese General Insurance - Gross Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 19: Togolese General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 20: Togolese General Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 21: Togolese General Insurance - Paid Claims (XOF Billion and US$ Million), 2013-2017
  • Table 22: Togolese General Insurance - Paid Claims (XOF Billion and US$ Million), 2017-2022
  • Table 23: Togolese General Insurance - Total Investment Income (XOF Billion and US$ Million), 2013-2017
  • Table 24: Togolese General Insurance - Total Investment Income (XOF Billion and US$ Million), 2017-2022
  • Table 25: Togolese General Insurance - Investment Portfolio (XOF Billion), 2013-2017
  • Table 26: Togolese General Insurance - Investment Portfolio (XOF Billion), 2017-2022
  • Table 27: Togolese Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 28: Togolese Property Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 29: Togolese Property Insurance - Loss Ratio (%), 2013-2017
  • Table 30: Togolese Property Insurance - Loss Ratio (%), 2017-2022
  • Table 31: Togolese Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 32: Togolese Motor Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 33: Togolese Motor Insurance - Loss Ratio (%), 2013-2017
  • Table 34: Togolese Motor Insurance - Loss Ratio (%), 2017-2022
  • Table 35: Togolese Liability Insurance - Direct Written Premium (XOF Million and US$ Million), 2013-2017
  • Table 36: Togolese Liability Insurance - Direct Written Premium (XOF Million and US$ Million), 2017-2022
  • Table 37: Togolese Liability Insurance - Loss Ratio (%), 2013-2017
  • Table 38: Togolese Liability Insurance - Loss Ratio (%), 2017-2022
  • Table 39: Togolese Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 40: Togolese Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 41: Togolese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017
  • Table 42: Togolese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022
  • Table 43: Togolese Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2013-2017
  • Table 44: Togolese Personal Accident and Health Insurance - Direct Written Premium (XOF Billion and US$ Million), 2017-2022
  • Table 45: Togolese Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
  • Table 46: Togolese Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
  • Table 47: Togolese Miscellaneous - Direct Written Premium (XOF Million and US$ Million), 2013-2017
  • Table 48: Togolese Miscellaneous - Direct Written Premium (XOF Million and US$ Million), 2017-2022
  • Table 49: Togolese Miscellaneous - Loss Ratio (%), 2013-2017
  • Table 50: Togolese Miscellaneous - Loss Ratio (%), 2017-2022
  • Table 51: Togolese Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2017
  • Table 52: Togolese Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2017-2022
  • Table 53: Togolese Insurance Industry - Market Shares of Leading Insurers (%), 2016
  • Table 54:Togolese Life Insurance Segment - Market Shares of Leading Insurers (%), 2016
  • Table 55:Togolese General Insurance Segment - Market Shares of Leading Insurers (%), 2016

Table 56: Groupement Togolais d'Assurances Vie - Key Facts

Table 57: Nouvelle Societe Interafricaine d'Assurance Group - Key Facts

Table 58: Saham Assurance - Key Facts

Table 59: Sunu Assurances IARD Togo - Key Facts

Table 60: Groupement Togolais d'Assurances Vie - Key Facts

  • Table 61: Togo - Insurance Regulatory Framework Key Features
  • Table 62: Togo - Insurance Intermediary Remuneration
  • Table 63: Togo - Life Insurance Regulatory Framework
  • Table 64: Togo - Property Insurance Regulatory Framework
  • Table 65: Togo- Motor Insurance Regulatory Framework
  • Table 66: Togo - Liability Insurance Regulatory Framework
  • Table 67: Togo - Insurance Premium Tax Rates
  • Table 68: Togo - Corporate Tax Rates for the Financial Year 2017
  • Table 69: Togolese Life Insurance - Policies and Premium, 2013-2017
  • Table 70: Togolese Life Insurance - Policies and Premium, 2017-2022
  • Table 71: Togolese Life Insurance - Claims and Expenses, 2013-2017
  • Table 72: Togolese Life Insurance - Claims and Expenses, 2017-2022
  • Table 73: Togolese Life Insurance - Assets and Investments, 2013-2017
  • Table 74: Togolese Life Insurance - Assets and Investments, 2017-2022
  • Table 75: Togolese General Insurance - Policies and Premium, 2013-2017
  • Table 76: Togolese General Insurance - Policies and Premium, 2017-2022
  • Table 77: Togolese General Insurance - Claims and Expenses, 2013-2017
  • Table 78: Togolese General Insurance - Claims and Expenses, 2017-2022
  • Table 79: Togolese General Insurance - Assets and Investments, 2013-2017
  • Table 80: Togolese General Insurance - Assets and Investments, 2017-2022
  • Table 81: Togolese General Insurance - Property Insurance, 2013-2017
  • Table 82: Togolese General Insurance - Property Insurance, 2017-2022
  • Table 83: Togolese General Insurance - Property Insurance by Category, 2013-2017
  • Table 84: Togolese General Insurance - Property Insurance by Category, 2017-2022
  • Table 85: Togolese General Insurance - Motor Insurance, 2013-2017
  • Table 86: Togolese General Insurance - Motor Insurance, 2017-2022
  • Table 87: Togolese General Insurance - Motor Insurance by Category, 2013-2017
  • Table 88: Togolese General Insurance - Motor Insurance by Category, 2017-2022
  • Table 89: Togolese General Insurance - Liability Insurance, 2013-2017
  • Table 90: Togolese General Insurance - Liability Insurance, 2017-2022
  • Table 91: Togolese General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
  • Table 92: Togolese General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
  • Table 93: Togolese General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017
  • Table 94: Togolese General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022
  • Table 95: Togolese General Insurance - Personal Accident and Health Insurance, 2013-2017
  • Table 96: Togolese General Insurance - Personal Accident and Health Insurance, 2017-2022
  • Table 97: Togolese General Insurance - Miscellaneous, 2013-2017
  • Table 98: Togolese General Insurance - Miscellaneous, 2017-2022
  • Table 99: Insurance Industry Definitions

List of Figures

  • Figure 1: Togolese Real GDP (XOF Trillion), 2013-2022
  • Figure 2: Togolese Exchange Rate (XOF per US$), 2013-2022
  • Figure 3: Togolese Consumer Price Inflation (%), 2013-2022
  • Figure 4: Togolese Current Account Balance as Percentage of GDP (%), 2013-2022
  • Figure 5: Togolese Unemployment Rate, 2013-2022
  • Figure 6: Togolese Population by Age Group, 2013-2022
  • Figure 7: Togolese Insurance Industry - Direct Written Premium (XOF Billion), 2013-2022
  • Figure 8: Togolese Insurance Industry - Density (XOF), 2013-2022
  • Figure 9: Togolese Insurance Industry - Paid Claims (XOF Billion), 2013-2022
  • Figure 10: Togolese Life Insurance - Direct Written Premium (XOF Billion), 2013-2022
  • Figure 11: Togolese Life Insurance - Paid Claims (XOF Billion), 2013-2022
  • Figure 12: Togolese Life Insurance - Penetration (%), 2013-2017
  • Figure 13: Togolese Life Insurance - Penetration (%), 2017-2022
  • Figure 14: Togolese Life Insurance - Total Investment Income (XOF Billion), 2013-2022
  • Figure 15: Togolese Life Insurance - Investment Portfolio (XOF Billion), 2013-2022
  • Figure 16: Togolese Life Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
  • Figure 17: Togolese General Insurance - Gross Written Premium (XOF Billion), 2013-2022
  • Figure 18: Togolese General Insurance - Direct Written Premium (XOF Billion), 2013-2022
  • Figure 19: Togolese General Insurance - Paid Claims (XOF Billion), 2013-2022
  • Figure 20: Togolese General Insurance - Penetration (%), 2013-2017
  • Figure 21: Togolese General Insurance - Penetration (%), 2017-2022
  • Figure 22: Togolese General Insurance - Loss Ratio (%), 2013-2017
  • Figure 23: Togolese General Insurance - Loss Ratio (%), 2017-2022
  • Figure 24: Togolese General Insurance - Total Investment Income (XOF Billion), 2013-2022
  • Figure 25: Togolese General Insurance - Investment Portfolio (XOF Billion), 2013-2022
  • Figure 26: Togolese General Insurance - Investment Portfolio Dynamics (XOF Billion), 2013-2022
  • Figure 27: Togolese Property Insurance - Direct Written Premium (XOF Billion), 2013-2022
  • Figure 28: Togolese Property Insurance - Penetration (%), 2013-2017
  • Figure 29: Togolese Property Insurance - Penetration (%), 2017-2022
  • Figure 30: Togolese Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
  • Figure 31: Togolese Motor Insurance - Direct Written Premium (XOF Billion), 2013-2022
  • Figure 32: Togolese Motor Insurance - Penetration (%), 2013-2017
  • Figure 33: Togolese Motor Insurance - Penetration (%), 2017-2022
  • Figure 34: Togolese Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
  • Figure 35: Togolese Liability Insurance -Direct Written Premium (XOF Billion), 2013-2022
  • Figure 36: Togolese Liability Insurance - Penetration (%), 2013-2017
  • Figure 37: Togolese Liability Insurance - Penetration (%), 2017-2022
  • Figure 38: Togolese Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
  • Figure 39: Togolese Marine, Aviation and Transit Insurance - Direct Written Premium (XOF Billion), 2013-2022
  • Figure 40: Togolese Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
  • Figure 41: Togolese Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
  • Figure 42: Togolese Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
  • Figure 43: Togolese Personal Accident and Health Insurance - Direct Written Premium (XOF Billion), 2013-2022
  • Figure 44: Togolese Personal Accident and Health Insurance - Penetration (%), 2013-2017
  • Figure 45: Togolese Personal Accident and Health Insurance - Penetration (%), 2017-2022
  • Figure 46: Togolese Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
  • Figure 47: Togolese Miscellaneous - Direct Written Premium (XOF Million), 2013-2022
  • Figure 48: Togolese Miscellaneous - Penetration (%), 2013-2017
  • Figure 49: Togolese Miscellaneous - Penetration (%), 2017-2022
  • Figure 50: Togolese Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (XOF Billion and %), 2013-2022
  • Figure 51: Togolese Reinsurance - Premium Ceded by Insurance Segment (XOF Billion), 2013-2022
  • Figure 52: Togolese Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Figure 53: Togolese General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Figure 54: Togolese Insurance Industry - Market Shares of Leading Insurers (%), 2016
  • Figure 55: Togolese Life Insurance Segment - Market Shares of Leading Insurers (%), 2016
  • Figure 56: Togolese General Insurance Segment - Market Shares of Leading Insurers (%), 2016
  • Figure 57: Togo - Insurance Supervision and Control at Various Levels
  • Figure 58: Togo - Insurance Regulatory Frameworks for Company Registration and Operation
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