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Market Research Report

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

Published by GlobalData Product code 692921
Published Content info 109 Pages
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The Insurance Industry in Guinea, Key Trends and Opportunities to 2022
Published: August 16, 2018 Content info: 109 Pages
Description

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

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

Scope

  • This report provides a comprehensive analysis of the insurance industry in Guinea
  • It provides historical values for the Guinean 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 Guinean 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 Guinea.
  • It profiles the top insurance companies in Guinea, 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 Guinean insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Guinean insurance industry.
  • Assess the competitive dynamics in the Guinean insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Guinean insurance industry and their impact on companies and the industry's future.
Table of Contents
Product Code: GDIS1722MR

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 Direct written premium
    • 4.1.3 Insurance density

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 Penetration
    • 6.1.4 Loss ratio
    • 6.1.5 Assets and investments
  • 6.2 Property Insurance
    • 6.2.1 Direct written premium
    • 6.2.2 Penetration
  • 6.3 Motor Insurance
    • 6.3.1 Direct written premium
    • 6.3.2 Penetration
  • 6.4 Liability Insurance
    • 6.4.1 Direct written premium
    • 6.4.2 Penetration
  • 6.5 Marine, Aviation and Transit Insurance
    • 6.5.1 Direct written premium
    • 6.5.2 Penetration
  • 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

7 Reinsurance Outlook

  • 7.1 Premium Ceded

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

  • 9.1 Flooding
  • 9.2 Epidemics
  • 9.3 Exposure

10 Competitive Landscape

  • 10.1 Company Profiles
    • 10.1.1 Union Guineenne d'Assurances Et De Reassurances (UGAR) - company overview
    • 10.1.2 l'Union des Assurances de Guinee - company overview
    • 10.1.3 NSIA Assurances Guinee - company overview
    • 10.1.4 Societe Guineenne d'Assurances Mutuelle (SOGAM) - company overview
    • 10.1.5 SAAR Assurances SA - 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 Marine liability insurance
    • 11.4.3 Liability insurance for ships with respect to oil pollution
    • 11.4.4 Professional indemnity insurance for brokers
    • 11.4.5 Aviation liability insurance
  • 11.5 Supervision and Control
    • 11.5.1 International Association of Insurance Supervisors
    • 11.5.2 Banque Centrale de la Republique de Guinee
  • 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 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 Motor insurance
    • 12.2.6 Motor insurance by category
    • 12.2.7 Liability insurance
    • 12.2.8 Marine, aviation and transit insurance
    • 12.2.9 Personal accident and health insurance

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: Guinean Insurance Industry - Key Facts, 2017
  • Table 2: Guinean Insurance Industry - Top Insurers, 2017
  • Table 3: Guinean Insurance Industry - Gross Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 4: Guinean Insurance Industry - Gross Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 5: Guinean Insurance Industry - Direct Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 6: Guinean Insurance Industry - Direct Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 7: Guinean Insurance Industry - Density (GNF), 2013-2017
  • Table 8: Guinean Insurance Industry - Density (GNF), 2017-2022
  • Table 9: Guinean Life Insurance - Direct Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 10: Guinean Life Insurance - Direct Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 11: Guinean Life Insurance - Total Investment Income (GNF Billion and US$ Thousands), 2013-2017
  • Table 12: Guinean Life Insurance - Total Investment Income (GNF Billion and US$ Thousands), 2017-2022
  • Table 13: Guinean Life Insurance - Investment Portfolio (GNF Billion), 2013-2017
  • Table 14: Guinean Life Insurance - Investment Portfolio (GNF Billion), 2017-2022
  • Table 15: Guinean General Insurance - Gross Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 16: Guinean General Insurance - Gross Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 17: Guinean General Insurance - Direct Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 18: Guinean General Insurance - Direct Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 19: Guinean General Insurance - Total Investment Income (GNF Billion and US$ Million), 2013-2017
  • Table 20: Guinean General Insurance - Total Investment Income (GNF Billion and US$ Million), 2017-2022
  • Table 21: Guinean General Insurance - Investment Portfolio (GNF Billion), 2013-2017
  • Table 22: Guinean General Insurance - Investment Portfolio (GNF Billion), 2017-2022
  • Table 23: Guinean Property Insurance - Gross Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 24: Guinean Property Insurance - Gross Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 25: Guinean Motor Insurance - Gross Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 26: Guinean Motor Insurance - Gross Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 27: Guinean Liability Insurance - Gross Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 28: Guinean Liability Insurance - Gross Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 29: Guinean Marine, Aviation and Transit Insurance - Gross Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 30: Guinean Marine, Aviation and Transit Insurance - Gross Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 31: Guinean Personal Accident and Health Insurance - Gross Written Premium (GNF Billion and US$ Million), 2013-2017
  • Table 32: Guinean Personal Accident and Health Insurance - Gross Written Premium (GNF Billion and US$ Million), 2017-2022
  • Table 33: Guinean Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017
  • Table 34: Guinean Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022
  • Table 35: Guinean Miscellaneous - Gross Written Premium (GNF Billion and US$ Thousands), 2013-2017
  • Table 36: Guinean Miscellaneous - Gross Written Premium (GNF Billion and US$ Thousands), 2017-2022
  • Table 37: Guinean Reinsurance - Premium Ceded by Insurance Segment (GNF Billion), 2013-2017
  • Table 38: Guinean Reinsurance - Premium Ceded by Insurance Segment (GNF Billion), 2017-2022
  • Table 39: Guinean Insurance Industry - Leading Insurers, 2017

Table 40: Union Guineenne d'Assurances Et De Reassurances - Key Facts

Table 41: L'Union des Assurances de Guinee - Key Facts

Table 42: NSIA Assurances Guinee - Key Facts

Table 43: Societe Guineenne d'Assurances Mutuelle (SOGAM) - Key Facts

Table 44: Union Guineenne d'Assurances Et De Reassurances - Key Facts

  • Table 45: Guinea - Insurance Regulatory Framework Key Features
  • Table 46: Guinea - Intermediary Remuneration
  • Table 47: Guinea - Life Insurance Regulatory Framework
  • Table 48: Guinea - Property Insurance Regulatory Framework
  • Table 49: Guinea- Motor Insurance Regulatory Framework
  • Table 50: Guinea - Liability Insurance Regulatory Framework
  • Table 51: Guinea- Insurance Premium Tax Rates
  • Table 52: Guinea - Corporate Tax Rates for the Financial Year 2017
  • Table 53: Guinean Life Insurance - Policies and Premium, 2013-2017
  • Table 54: Guinean Life Insurance - Policies and Premium, 2017-2022
  • Table 55: Guinean Life Insurance - Assets and Investments, 2013-2017
  • Table 56: Guinean Life Insurance - Assets and Investments, 2017-2022
  • Table 57: Guinean General Insurance - Policies and Premium, 2013-2017
  • Table 58: Guinean General Insurance - Policies and Premium, 2017-2022
  • Table 59: Guinean General Insurance - Claims and Expenses, 2013-2017
  • Table 60: Guinean General Insurance - Claims and Expenses, 2017-2022
  • Table 61: Guinean General Insurance - Assets and Investments, 2013-2017
  • Table 62: Guinean General Insurance - Assets and Investments, 2017-2022
  • Table 63: Guinean General Insurance - Property Insurance, 2013-2017
  • Table 64: Guinean General Insurance - Property Insurance, 2017-2022
  • Table 65: Guinean General Insurance - Motor Insurance, 2013-2017
  • Table 66: Guinean General Insurance - Motor Insurance, 2017-2022
  • Table 67: Guinean General Insurance - Motor Insurance by Category, 2013-2017
  • Table 68: Guinean General Insurance - Motor Insurance by Category, 2017-2022
  • Table 69: Guinean General Insurance - Liability Insurance, 2013-2017
  • Table 70: Guinean General Insurance - Liability Insurance, 2017-2022
  • Table 71: Guinean General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
  • Table 72: Guinean General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
  • Table 73: Guinean General Insurance - Personal Accident and Health Insurance, 2013-2017
  • Table 74: Guinean General Insurance - Personal Accident and Health Insurance, 2017-2022
  • Table 75: Insurance Industry Definitions

List of Figures

  • Figure 1: Guinean Real GDP (GNF Trillion), 2013-2022
  • Figure 2: Guinean Exchange Rate (GNF per US$), 2013-2022
  • Figure 3: Guinean Consumer Price Inflation (%), 2013-2022
  • Figure 4: Guinean Current Account Balance as Percentage of GDP (%), 2013-2022
  • Figure 5: Guinean Unemployment Rate, 2013-2022
  • Figure 6: Guinean Population by Age Group, 1990-2025
  • Figure 7: Guinean Insurance Industry - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 8: Guinean Insurance Industry - Direct Written Premium (GNF Billion), 2013-2022
  • Figure 9: Guinean Insurance Industry - Density (GNF), 2013-2022
  • Figure 10: Guinean Life Insurance - Direct Written Premium (GNF Billion), 2013-2022
  • Figure 11: Guinean Life Insurance - Penetration (%), 2013-2017
  • Figure 12: Guinean Life Insurance - Penetration (%), 2017-2022
  • Figure 13: Guinean Life Insurance - Total Investment Income (GNF Billion), 2013-2022
  • Figure 14: Guinean Life Insurance - Investment Portfolio (GNF Billion), 2013-2022
  • Figure 15: Guinean Life Insurance - Investment Portfolio Dynamics (GNF Billion), 2013-2022
  • Figure 16: Guinean General Insurance - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 17: Guinean General Insurance - Direct Written Premium (GNF Billion), 2013-2022
  • Figure 18: Guinean General Insurance - Penetration (%), 2013-2017
  • Figure 19: Guinean General Insurance - Penetration (%), 2017-2022
  • Figure 20: Guinean General Insurance - Loss Ratio (%), 2013-2017
  • Figure 21: Guinean General Insurance - Loss Ratio (%), 2017-2022
  • Figure 22: Guinean General Insurance - Total Investment Income (GNF Billion), 2013-2022
  • Figure 23: Guinean General Insurance - Investment Portfolio (GNF Billion), 2013-2022
  • Figure 24: Guinean General Insurance - Investment Portfolio Dynamics (GNF Billion), 2013-2022
  • Figure 25: Guinean Property Insurance - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 26: Guinean Property Insurance - Penetration (%), 2013-2017
  • Figure 27: Guinean Property Insurance - Penetration (%), 2017-2022
  • Figure 28: Guinean Motor Insurance - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 29: Guinean Motor Insurance - Penetration (%), 2013-2017
  • Figure 30: Guinean Motor Insurance - Penetration (%), 2017-2022
  • Figure 31: Guinean Liability Insurance - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 32: Guinean Liability Insurance - Penetration (%), 2013-2017
  • Figure 33: Guinean Liability Insurance - Penetration (%), 2017-2022
  • Figure 34: Guinean Marine, Aviation and Transit Insurance - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 35: Guinean Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
  • Figure 36: Guinean Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
  • Figure 37: Guinean Personal Accident and Health Insurance - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 38: Guinean Personal Accident and Health Insurance - Penetration (%), 2013-2017
  • Figure 39: Guinean Personal Accident and Health Insurance - Penetration (%), 2017-2022
  • Figure 40: Guinean Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (GNF Billion and %), 2013-2022
  • Figure 41: Guinean Miscellaneous - Gross Written Premium (GNF Billion), 2013-2022
  • Figure 42: Guinean Miscellaneous - Penetration (%), 2013-2017
  • Figure 43: Guinean Miscellaneous - Penetration (%), 2017-2022
  • Figure 44: Guinean Reinsurance - Premium Ceded by Insurance Segment (GNF Billion), 2013-2022
  • Figure 45: Guinean General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022
  • Figure 46: Guinea - Insurance Supervision and Control at Various Levels
  • Figure 47: Guinea - Insurance Regulatory Frameworks for Company Registration and Operation
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