"The Insurance Industry in Uganda, Key Trends and Opportunities to 2018" Published
New Insurance market report from Timetric: "The Insurance Industry in Uganda, Key Trends and Opportunities to 2018"
[USPRwire, Mon Aug 18 2014] The Ugandan insurance industry recorded a CAGR of 18.8% during 2009-2013. The healthy growth in the industry was due to the strong performance of the personal accident and health insurance segment, which registered a review-period CAGR of 22.1%. This was followed by the life and non-life segments, with respective CAGRs of 21.8% and 17.2%. A strengthening economy and rising exports are expected to support the growth of the insurance industry.
Report Highlights
* Non-life insurance accounted for 64.2% of the total insurance industry's written premium in 2013. This is followed by the personal accident and health with a share of 24.6% and life with a share of 11.2% in 2013.
* The strengths of the Ugandan insurance sector lie in its vibrant regulatory framework. The government has updated insurance regulations several times in order to make them more consistent with emerging trends and changing market dynamics.
* The increase in the minimum paid-up capital required for insurance business operations restricts the entrance of new insurers to the country.
* Around 90% of the population in Uganda is poor, with 86.1% living in rural areas as of 2013.
* The Ugandan insurance industry is small and underpenetrated; there were 22 insurance companies, 29 insurance brokers, 17 loss assessors and 828 agents involved in insurance business at the end of 2012.
* Insurance penetration increased from 0.601% in 2009 to 0.675% in 2013, and is expected to reach 0.731% in 2018.
This report provides a comprehensive analysis of the insurance industry in Uganda:
* It provides historical values for the Ugandan insurance industry for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
* It offers a detailed analysis of the key segments and categories in the Ugandan insurance industry, along with forecasts until 2018.
* 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 Uganda, and outlines the key regulations affecting them.
Reasons to Get this Report
* Make strategic business decisions using in-depth historic and forecast industry data related to the Ugandan insurance industry and each segment within it.
* Understand the demand-side dynamics, key trends and growth opportunities within the Ugandan insurance industry.
* Assess the competitive dynamics in the Ugandan insurance industry.
* Identify the growth opportunities and market dynamics within key segments.
* Gain insights into key regulations governing the Ugandan insurance industry and its impact on companies and the industry's future.
Companies Mentioned in this Report: Jubilee Insurance, AIG Uganda Insurance Co. Ltd, Goldstar Insurance Co. Ltd, Liberty Life Assurance, UAP Insurance
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
You may also be interested in these related reports:
