The report provides in depth market analysis, information and insights into the insurance industry in Rwanda, including:
- The Rwandan insurance industry’s growth prospects by insurance segments and categories
- The competitive landscape in the Rwandan insurance industry
- The current trends and drivers of the Rwandan insurance industry
- The challenges facing the Rwandan insurance industry
- The regulatory framework of the Rwandan insurance industry
The Rwandan insurance industry declined in terms of written premium value during the review period. The decrease was a direct consequence of the global financial crisis in 2009. In order to restructure and increase insurance penetration rates, The National Bank of Rwanda enacted a number of new laws in 2009. The new laws included the establishment of proper licensing procedures for insurance intermediaries, laws to monitor insurers’ financial positions and an increase in minimum capital and solvency margins. In addition, the The National Bank of Rwanda (BNR) also enforced several laws to attract new businesses under compulsory insurance provisions such as professional insurance indemnity and insurance cover for civil servants and construction site workers. The new set of regulations helped the industry increase penetration rates.
- This report provides a comprehensive analysis of the insurance industry in Rwanda:
- It provides historical values for the Rwandan insurance industry for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
- It offers a detailed analysis of the key segments and categories in the Rwandan insurance industry, along with industry forecasts until 2017
- 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 Rwanda and outlines the key regulations affecting them
Reasons to buy
- Make strategic business decisions using in depth historic and forecast industry data related to the Rwandan insurance industry and each segment within it
- Assess the competitive dynamics in the Rwandan insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Rwandan insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Rwandan insurance industry and its impact on companies and the industry's future
- The Rwandan insurance industry declined in terms of written premium value during the review period.
- The decrease was a direct consequence of the global financial crisis in 2009. However, the industry recovered and posted robust growth in subsequent years.
- This growth was attributed to economic development following the global financial crisis, the market entry of new businesses and the improved performance of the non-life segment.
- The industry is projected to grow over the forecast period
- This growth will be driven by robust levels of economic development and government support, which will attract investor and regulatory interest, increasing insurance penetration rates through the implementation of compulsory insurance provisions.