Africa: An 8.6% growth in the insurance in Sub-Saharan countries

Ernst & Young is expecting a steady growth in insurance premiums in several Sub-Saharan countries until 2018.

The financial audit firm foresees an 11% increase in annual premiums in Zambia, 10% in Nigeria, 9% in Ghana, 8% in Uganda, Tanzania, Malawi and finally 6% in Kenya.

This improvement would result from a favorable business climate that encourages several foreign insurers to join local markets through mergers and acquisitions.