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Market Research Report

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

Published by GlobalData Product code 692914
Published Content info 81 Pages
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The Insurance Industry in Burundi, Key Trends and Opportunities to 2022
Published: July 7, 2018 Content info: 81 Pages
Description

GlobalData's "The Insurance Industry in Burundi, Key Trends and Opportunities to 2022" report provides detailed analysis of the market trends, drivers and challenges in the Burundian 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 Burundian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

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

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

Scope

  • This report provides a comprehensive analysis of the insurance industry in Burundi
  • It provides historical values for the Burundian 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 Burundian 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 Burundi.
  • It profiles the top insurance companies in Burundi, 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 Burundian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Burundian insurance industry.
  • Assess the competitive dynamics in the Burundian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Burundian insurance industry and their impact on companies and the industry's future.
Table of Contents
Product Code: GDIS1706MR

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 Paid claims
    • 5.1.3 Penetration

6 General Insurance Outlook

  • 6.1 Segment Indicators
    • 6.1.1 Direct written premium
    • 6.1.2 Penetration

7 Reinsurance Outlook

  • 7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

  • 9.1 Flooding
  • 9.2 Landslides
  • 9.3 Exposure

10 Competitive Landscape

  • 10.1 Company Profiles
    • 10.1.1 Burundi Insurance Corporation (BICOR) - company overview
    • 10.1.2 Commercial Insurance and Reinsurance Company (SOCAR) - company overview
    • 10.1.3 General Insurance And Reinsurance Company (SOGEAR) - company overview
    • 10.1.4 Insurance Company of Burundi (SOCABU) - company overview
    • 10.1.5 Commercial Insurance and Reinsurance Union of Burundi (UCAR) - 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 doctors
    • 11.4.3 Professional indemnity insurance for lawyers
    • 11.4.4 Civil liability insurance for operators of commercial buildings against fire or explosion
    • 11.4.5 Insurance for administrative buildings against fire or explosion
    • 11.4.6 Construction risk insurance
    • 11.4.7 Financial guarantee/professional liability insurance for insurance intermediaries
    • 11.4.8 Insurance for import of goods
  • 11.5 Supervision and Control
    • 11.5.1 The African Insurance Organization
    • 11.5.2 Agency of Regulation and Insurance Supervision
  • 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
  • 12.2 General Insurance
    • 12.2.1 Policies and premium
    • 12.2.2 Claims and expenses

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: Burundian Insurance Industry - Key Facts, 2017
  • Table 2: Burundian Insurance Industry - Industry Shares of the Top Insurers, 2016
  • Table 3: Burundian Insurance Industry - Direct Written Premium (BIF Billion and US$ Million), 2013-2017
  • Table 4: Burundian Insurance Industry - Direct Written Premium (BIF Billion and US$ Million), 2017-2022
  • Table 5: Burundian Insurance Industry - Density (BIF and US$), 2013-2017
  • Table 6: Burundian Insurance Industry - Density (BIF and US$), 2017-2022
  • Table 7: Burundian Insurance Industry - Paid Claims (BIF Billion and US$ Million), 2013-2017
  • Table 8: Burundian Insurance Industry - Paid Claims (BIF Billion and US$ Million), 2017-2022
  • Table 9: Burundian Life Insurance - Direct Written Premium (BIF Billion and US$ Million), 2013-2017
  • Table 10: Burundian Life Insurance - Direct Written Premium (BIF Billion and US$ Million), 2017-2022
  • Table 11: Burundian Life Insurance - Paid Claims (BIF Billion and US$ Million), 2013-2017
  • Table 12: Burundian Life Insurance - Paid Claims (BIF Billion and US$ Million), 2017-2022
  • Table 13: Burundian General Insurance - Direct Written Premium (BIF Billion and US$ Million), 2013-2017
  • Table 14: Burundian General Insurance - Direct Written Premium (BIF Billion and US$ Million), 2017-2022
  • Table 15: Burundian Reinsurance - Premium Ceded by Insurance Segment (BIF Billion), 2013-2017
  • Table 16: Burundian Reinsurance - Premium Ceded by Insurance Segment (BIF Billion), 2017-2022
  • Table 17: Burundian Insurance Industry - Leading Insurers, 2016
  • Table 18: Burundi Insurance Corporation (BICOR) - Key Facts
  • Table 19: Commercial Insurance and Reinsurance Company (SOCAR) - Key Facts
  • Table 20: General Insurance And Reinsurance Company (SOGEAR) - Key Facts
  • Table 21: Insurance Company Of Burundi (SOCABU) - Key Facts
  • Table 22: Commercial Insurance and Reinsurance Union of Burundi (UCAR) - Key Facts
  • Table 23: Burundi - Insurance Regulatory Framework Key Features
  • Table 24: Burundi - Non-life Insurance - Commission Rates for Insurance Brokers
  • Table 25: Burundi - Fees for Services Rendered by the ARCA
  • Table 26: Burundi - Life Insurance Regulatory Framework
  • Table 27: Burundi - Property Insurance Regulatory Framework
  • Table 28: Burundi - Motor Insurance Regulatory Framework
  • Table 29: Burundi - Liability Insurance Regulatory Framework
  • Table 30: Burundi - Corporate Tax Rates for the Financial Year 2017
  • Table 31: Burundian Life Insurance - Policies and Premium, 2013-2017
  • Table 32: Burundian Life Insurance - Policies and Premium, 2017-2022
  • Table 33: Burundian Life Insurance - Claims and Expenses, 2013-2017
  • Table 34: Burundian Life Insurance - Claims and Expenses, 2017-2022
  • Table 35: Burundian General Insurance - Policies and Premium, 2013-2017
  • Table 36: Burundian General Insurance - Policies and Premium, 2017-2022
  • Table 37: Burundian General Insurance - Claims and Expenses, 2013-2017
  • Table 38: Burundian General Insurance - Claims and Expenses, 2017-2022
  • Table 39: Insurance Industry Definitions

List of Figures

  • Figure 1: Burundian Real GDP (BIF Trillion), 2013-2022
  • Figure 2: Burundian Exchange Rate (BIF per US$), 2013-2022
  • Figure 3: Burundian Consumer Price Inflation (%), 2013-2022
  • Figure 4: Burundian Current Account Balance (% of GDP), 2013-2022
  • Figure 5: Burundian Population by Age Group, 2013-2022
  • Figure 6: Burundian Insurance Industry - Direct Written Premium (BIF Billion), 2013-2022
  • Figure 7: Burundian Insurance Industry - Density (BIF), 2013-2022
  • Figure 8: Burundian Insurance Industry - Paid Claims (BIF Billion), 2013-2022
  • Figure 9: Burundian Life Insurance - Direct Written Premium (BIF Billion), 2013-2022
  • Figure 10: Burundian Life Insurance - Paid Claims (BIF Billion), 2013-2022
  • Figure 11: Burundian Life Insurance - Penetration (%), 2013-2017
  • Figure 12: Burundian Life Insurance - Penetration (%), 2017-2022
  • Figure 13: Burundian General Insurance - Direct Written Premium (BIF Billion), 2013-2022
  • Figure 14: Burundian General Insurance - Penetration (%), 2013-2017
  • Figure 15: Burundian General Insurance - Penetration (%), 2017-2022
  • Figure 16: Burundian Reinsurance - Premium Ceded by Insurance Segment (BIF Billion), 2013-2022
  • Figure 17: Burundi - Insurance Supervision and Control at Various Levels
  • Figure 18: Burundi - Insurance Regulatory Frameworks for Company Registration and Operation
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