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Market Research Report

The Insurance Industry in Cape Verde, Key Trends and Opportunities to 2022

Published by GlobalData Product code 692918
Published Content info 114 Pages
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The Insurance Industry in Cape Verde, Key Trends and Opportunities to 2022
Published: August 3, 2018 Content info: 114 Pages
Description

GlobalData's "The Insurance Industry in Cape Verde, Key Trends and Opportunities to 2022" report provides detailed analysis of the market trends, drivers and challenges in the Cape Verdean 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 Cape Verdean 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 Cape Verdean insurance industry, including -

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

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 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 Cape Verdean 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 Cape Verde.
  • 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 market data related to the Cape Verdean insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Cape Verdean insurance industry.
  • Assess the competitive dynamics in the Cape Verdean insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Cape Verdean insurance industry and their impact on companies and the industry's future.
Table of Contents
Product Code: GDIS1714MR

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 Gross written premium
    • 4.1.2 Insurance density
    • 4.1.3 Active policies
    • 4.1.4 Paid claims

5 Life Insurance Outlook

  • 5.1 Segment Indicators
    • 5.1.1 Gross written premium
    • 5.1.2 Active policies
    • 5.1.3 Paid claims
    • 5.1.4 Penetration

6 General Insurance Outlook

  • 6.1 Segment Indicators
    • 6.1.1 Gross written premium
    • 6.1.2 Active policies
    • 6.1.3 Paid claims
    • 6.1.4 Penetration
    • 6.1.5 Loss ratio
  • 6.2 Property Insurance
    • 6.2.1 Gross written premium
    • 6.2.2 Active policies
    • 6.2.3 Penetration
    • 6.2.4 Profitability
  • 6.3 Motor Insurance
    • 6.3.1 Gross written premium
    • 6.3.2 Active policies
    • 6.3.3 Penetration
    • 6.3.4 Claims
    • 6.3.5 Profitability
  • 6.4 Liability Insurance
    • 6.4.1 Gross written premium
    • 6.4.2 Active policies
    • 6.4.3 Penetration
    • 6.4.4 Profitability
  • 6.5 Marine, Aviation and Transit Insurance
    • 6.5.1 Gross written premium
    • 6.5.2 Active policies
    • 6.5.3 Penetration
    • 6.5.4 Profitability
  • 6.6 Personal Accident and Health Insurance
    • 6.6.1 Gross written premium
    • 6.6.2 Active policies
    • 6.6.3 Penetration
    • 6.6.4 Profitability
  • 6.7 Miscellaneous
    • 6.7.1 Gross written premium
    • 6.7.2 Active policies
    • 6.7.3 Penetration
    • 6.7.4 Profitability

7 Reinsurance Outlook

  • 7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

  • 9.1 Flooding
  • 9.2 Volcanoes
  • 9.3 Exposure

10 Competitive Landscape

  • 10.1 Company Profiles
    • 10.1.1 Garantia Seguros - company overview
    • 10.1.2 Impar Seguros - 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 Workers' compensation insurance
    • 11.4.3 Liability insurance for ships with respect to oil pollution
    • 11.4.4 Professional indemnity for insurance brokers
  • 11.5 Supervision and Control
    • 11.5.1 International Association of Insurance Supervisors
    • 11.5.2 African Insurance Organization
    • 11.5.3 Bank of Cape Verde
  • 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
    • 12.2.3 Property insurance
    • 12.2.4 Motor insurance
    • 12.2.5 Liability insurance
    • 12.2.6 Marine, aviation and transit insurance
    • 12.2.7 Personal accident and health insurance
    • 12.2.8 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: Cape Verdean Insurance Industry - Key Facts, 2017
  • Table 2: Cape Verdean Insurance Industry - Leading Insurers, 2017
  • Table 3: Cape Verdean Government Credit Ratings
  • Table 4: Cape Verdean Insurance Industry - Gross Written Premium (CVE Billion and US$ Million), 2013-2017
  • Table 5: Cape Verdean Insurance Industry - Gross Written Premium (CVE Billion and US$ Million), 2017-2022
  • Table 6: Cape Verdean Insurance Industry - Density (CVE), 2013-2017
  • Table 7: Cape Verdean Insurance Industry - Density (CVE), 2017-2022
  • Table 8: Cape Verdean Insurance Industry - Number of Active Policies (Thousand), 2013-2017
  • Table 9: Cape Verdean Insurance Industry - Number of Active Policies (Thousand), 2017-2022
  • Table 10: Cape Verdean Insurance Industry - Paid Claims (CVE Million and US$ Million), 2013-2017
  • Table 11: Cape Verdean Insurance Industry - Paid Claims (CVE Million and US$ Million), 2017-2022
  • Table 12: Cape Verdean Life Insurance - Gross Written Premium (CVE Million and US$ Million), 2013-2017
  • Table 13: Cape Verdean Life Insurance - Gross Written Premium (CVE Million and US$ Million), 2017-2022
  • Table 14: Cape Verdean Life Insurance - Number of Active Policies (Thousand), 2013-2017
  • Table 15: Cape Verdean Life Insurance - Number of Active Policies (Thousand), 2017-2022
  • Table 16: Cape Verdean Life Insurance - Paid Claims (CVE Million and US$ Million), 2013-2017
  • Table 17: Cape Verdean Life Insurance - Paid Claims (CVE Million and US$ Million), 2017-2022
  • Table 18: Cape Verdean General Insurance - Gross Written Premium (CVE Billion and US$ Million), 2013-2017
  • Table 19: Cape Verdean General Insurance - Gross Written Premium (CVE Billion and US$ Million), 2017-2022
  • Table 20: Cape Verdean General Insurance - Number of Active Policies (Thousand), 2013-2017
  • Table 21: Cape Verdean General Insurance - Number of Active Policies (Thousand), 2017-2022
  • Table 22: Cape Verdean General Insurance - Paid Claims (CVE Million and US$ Million), 2013-2017
  • Table 23: Cape Verdean General Insurance - Paid Claims (CVE Million and US$ Million), 2017-2022
  • Table 24: Cape Verdean Property Insurance - Gross Written Premium (CVE Million and US$ Million), 2013-2017
  • Table 25: Cape Verdean Property Insurance - Gross Written Premium (CVE Million and US$ Million), 2017-2022
  • Table 26: Cape Verdean Property Insurance - Number of Active Policies (Thousand), 2013-2017
  • Table 27: Cape Verdean Property Insurance - Number of Active Policies (Thousand), 2017-2022
  • Table 28: Cape Verdean Property Insurance - Loss Ratio (%), 2013-2017
  • Table 29: Cape Verdean Property Insurance - Loss Ratio (%), 2017-2022
  • Table 30: Cape Verdean Motor Insurance - Gross Written Premium (CVE Billion and US$ Million), 2013-2017
  • Table 31: Cape Verdean Motor Insurance - Gross Written Premium (CVE Billion and US$ Million), 2017-2022
  • Table 32: Cape Verdean Motor Insurance - Number of Active Policies (Thousand), 2013-2017
  • Table 33: Cape Verdean Motor Insurance - Number of Active Policies (Thousand), 2017-2022
  • Table 34: Cape Verdean Motor Insurance - Paid Claims (CVE Million and US$ Million), 2013-2017
  • Table 35: Cape Verdean Motor Insurance - Paid Claims (CVE Million and US$ Million), 2017-2022
  • Table 36: Cape Verdean Motor Insurance - Loss Ratio (%), 2013-2017
  • Table 37: Cape Verdean Motor Insurance - Loss Ratio (%), 2017-2022
  • Table 38: Cape Verdean Liability Insurance - Gross Written Premium (CVE Million and US$ Million), 2013-2017
  • Table 39: Cape Verdean Liability Insurance - Gross Written Premium (CVE Million and US$ Million), 2017-2022
  • Table 40: Cape Verdean Liability Insurance - Number of Active Policies (Thousand), 2013-2017
  • Table 41: Cape Verdean Liability Insurance - Number of Active Policies (Thousand), 2017-2022
  • Table 42: Cape Verdean Liability Insurance - Loss Ratio (%), 2013-2017
  • Table 43: Cape Verdean Liability Insurance - Loss Ratio (%), 2017-2022
  • Table 44: Cape Verdean Marine, Aviation and Transit Insurance - Gross Written Premium (CVE Million and US$ Million), 2013-2017
  • Table 45: Cape Verdean Marine, Aviation and Transit Insurance - Gross Written Premium (CVE Million and US$ Million), 2017-2022
  • Table 46: Cape Verdean Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2013-2017
  • Table 47: Cape Verdean Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2017-2022
  • Table 48: Cape Verdean Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017
  • Table 49: Cape Verdean Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022
  • Table 50: Cape Verdean Personal Accident and Health Insurance - Gross Written Premium (CVE Million and US$ Million), 2013-2017
  • Table 51: Cape Verdean Personal Accident and Health Insurance - Gross Written Premium (CVE Million and US$ Million), 2017-2022
  • Table 52: Cape Verdean Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2013-2017
  • Table 53: Cape Verdean Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2017-2022
  • Table 54: Cape Verdean Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
  • Table 55: Cape Verdean Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
  • Table 56: Cape Verdean Miscellaneous - Gross Written Premium (CVE Million and US$ Million), 2013-2017
  • Table 57: Cape Verdean Miscellaneous - Gross Written Premium (CVE Million and US$ Million), 2017-2022
  • Table 58: Cape Verdean Miscellaneous - Number of Active Policies (Thousand), 2013-2017
  • Table 59: Cape Verdean Miscellaneous - Number of Active Policies (Thousand), 2017-2022
  • Table 60: Cape Verdean Miscellaneous - Loss Ratio (%), 2013-2017
  • Table 61: Cape Verdean Miscellaneous - Loss Ratio (%), 2017-2022
  • Table 62: Cape Verdean Reinsurance - Premium Ceded by Insurance Segment (CVE Million), 2013-2017
  • Table 63: Cape Verdean Reinsurance - Premium Ceded by Insurance Segment (CVE Million), 2017-2022
  • Table 64: Congolese Insurance Industry - Leading Insurers, 2017
  • Table 65: Garantia Seguros - Key Facts
  • Table 66: Impar Seguros - Key Facts
  • Table 67: Cape Verde - Insurance Regulatory Framework Key Features
  • Table 68: Cape Verde - Life Insurance Regulatory Framework
  • Table 69: Cape Verde - Property Insurance Regulatory Framework
  • Table 70: Cape Verde - Motor Insurance Regulatory Framework
  • Table 71: Cape Verde - Liability Insurance Regulatory Framework
  • Table 72: Cape Verde - Motor Vehicle Rating Tariffs
  • Table 73: Cape Verde - Percentage of Reversal of Motor Insurance Premium
  • Table 74: Cape Verde - Minimum Capital Requirements
  • Table 75: Cape Verde- Corporate Tax Rates for the Financial Year 2017
  • Table 76: Cape Verdean Life Insurance - Policies and Premium, 2013-2017
  • Table 77: Cape Verdean Life Insurance - Policies and Premium, 2017-2022
  • Table 78: Cape Verdean Life Insurance - Claims and Expenses, 2013-2017
  • Table 79: Cape Verdean Life Insurance - Claims and Expenses, 2017-2022
  • Table 80: Cape Verdean General Insurance - Policies and Premium, 2013-2017
  • Table 81: Cape Verdean General Insurance - Policies and Premium, 2017-2022
  • Table 82: Cape Verdean General Insurance - Claims and Expenses, 2013-2017
  • Table 83: Cape Verdean General Insurance - Claims and Expenses, 2017-2022
  • Table 84: Cape Verdean General Insurance - Property Insurance, 2013-2017
  • Table 85: Cape Verdean General Insurance - Property Insurance, 2017-2022
  • Table 86: Cape Verdean General Insurance - Motor Insurance, 2013-2017
  • Table 87: Cape Verdean General Insurance - Motor Insurance, 2017-2022
  • Table 88: Cape Verdean General Insurance - Liability Insurance, 2013-2017
  • Table 89: Cape Verdean General Insurance - Liability Insurance, 2017-2022
  • Table 90: Cape Verdean General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
  • Table 91: Cape Verdean General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
  • Table 92: Cape Verdean General Insurance - Personal Accident and Health Insurance, 2013-2017
  • Table 93: Cape Verdean General Insurance - Personal Accident and Health Insurance, 2017-2022
  • Table 94: Cape Verdean General Insurance - Miscellaneous, 2013-2017
  • Table 95: Cape Verdean General Insurance - Miscellaneous, 2017-2022
  • Table 96: Insurance Industry Definitions

List of Figures

  • Figure 1: Cape Verdean Real GDP (CVE Billion), 2013-2022
  • Figure 2: Cape Verdean Exchange Rate (CVE per US$), 2013-2022
  • Figure 3: Cape Verdean Consumer Price Inflation (%), 2013-2022
  • Figure 4: Cape Verdean Current Account Balance (% of GDP), 2013-2016
  • Figure 5: Cape Verdean Unemployment Rate, 2013-2022
  • Figure 6: Cape Verdean Population by Age Group (Thousand), 2013-2021
  • Figure 7: Cape Verdean Insurance Industry - Gross Written Premium (CVE Billion), 2013-2022
  • Figure 8: Cape Verdean Insurance Industry - Density (CVE), 2013-2022
  • Figure 9: Cape Verdean Insurance Industry - Number of Active Policies (Thousand), 2013-2022
  • Figure 10: Cape Verdean Insurance Industry - Paid Claims (CVE Million), 2013-2022
  • Figure 11: Cape Verdean Life Insurance - Gross Written Premium (CVE Million), 2013-2022
  • Figure 12: Cape Verdean Life Insurance - Number of Active Policies (Thousand), 2013-2022
  • Figure 13: Cape Verdean Life Insurance - Paid Claims (CVE Million), 2013-2022
  • Figure 14: Cape Verdean Life Insurance - Penetration (%), 2013-2017
  • Figure 15: Cape Verdean Life Insurance - Penetration (%), 2017-2022
  • Figure 16: Cape Verdean General Insurance - Gross Written Premium (CVE Billion), 2013-2022
  • Figure 17: Cape Verdean General Insurance - Number of Active Policies (Thousand), 2013-2022
  • Figure 18: Cape Verdean General Insurance - Paid Claims (CVE Million), 2013-2022
  • Figure 19: Cape Verdean General Insurance - Penetration (%), 2013-2017
  • Figure 20: Cape Verdean General Insurance - Penetration (%), 2017-2022
  • Figure 21: Cape Verdean General Insurance - Loss Ratio (%), 2013-2017
  • Figure 22: Cape Verdean General Insurance - Loss Ratio (%), 2017-2022
  • Figure 23: Cape Verdean Property Insurance - Gross Written Premium (CVE Million), 2013-2022
  • Figure 24: Cape Verdean Property Insurance - Number of Active Policies (Thousand), 2013-2022
  • Figure 25: Cape Verdean Property Insurance - Penetration (%), 2013-2017
  • Figure 26: Cape Verdean Property Insurance - Penetration (%), 2017-2022
  • Figure 27: Cape Verdean Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022
  • Figure 28: Cape Verdean Motor Insurance - Gross Written Premium (CVE Billion), 2013-2022
  • Figure 29: Cape Verdean Motor Insurance - Number of Active Policies (Thousand), 2013-2022
  • Figure 30: Cape Verdean Motor Insurance - Penetration (%), 2013-2017
  • Figure 31: Cape Verdean Motor Insurance - Penetration (%), 2017-2022
  • Figure 32: Cape Verdean Motor Insurance - Paid Claims (CVE Million), 2013-2022
  • Figure 33: Cape Verdean Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022
  • Figure 34: Cape Verdean Liability Insurance - Gross Written Premium (CVE Million), 2013-2022
  • Figure 35: Cape Verdean Liability Insurance - Number of Active Policies (Thousand), 2013-2022
  • Figure 36: Cape Verdean Liability Insurance - Penetration (%), 2013-2017
  • Figure 37: Cape Verdean Liability Insurance - Penetration (%), 2017-2022
  • Figure 38: Cape Verdean Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022
  • Figure 39: Cape Verdean Marine, Aviation and Transit Insurance - Gross Written Premium (CVE Million), 2013-2022
  • Figure 40: Cape Verdean Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2013-2022
  • Figure 41: Cape Verdean Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
  • Figure 42: Cape Verdean Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
  • Figure 43: Cape Verdean Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022
  • Figure 44: Cape Verdean Personal Accident and Health Insurance - Gross Written Premium (CVE Million), 2013-2022
  • Figure 45: Cape Verdean Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2013-2022
  • Figure 46: Cape Verdean Personal Accident and Health Insurance - Penetration (%), 2013-2017
  • Figure 47: Cape Verdean Personal Accident and Health Insurance - Penetration (%), 2017-2022
  • Figure 48: Cape Verdean Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022
  • Figure 49: Cape Verdean Miscellaneous - Gross Written Premium (CVE Million), 2013-2022
  • Figure 50: Cape Verdean Miscellaneous - Number of Active Policies (Thousand), 2013-2022
  • Figure 51: Cape Verdean Miscellaneous - Penetration (%), 2013-2017
  • Figure 52: Cape Verdean Miscellaneous - Penetration (%), 2017-2022
  • Figure 53: Cape Verdean Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (CVE Million and %), 2013-2022
  • Figure 54: Cape Verdean Reinsurance - Premium Ceded by Insurance Segment (CVE Million), 2013-2022
  • Figure 55: Cape Verdean Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Figure 56: Cape Verdean General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Figure 57: Cape Verde - Insurance Supervision and Control at Various Levels
  • Figure 58: Cape Verde - Insurance Regulatory Frameworks for Company Registration and Operation
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