Ghana's insurance industry valued at 600 million USD by 2018
According to a report conducted by Ernest & Young (EY), the Ghanaian insurance industry is expected to grow by 8.5% by 2018. The premiums written by all market companies are expected to increase from 400 million USD in 2014 to 600 million USD in 2018.
The emergence of a middle class and the existence of a young population are factors among others favorable to the rise of the sector. Life insurance, alone, is expected to grow from 150.8 million USD in 2014 to 413 million USD by the end of 2019. The market will also benefit from the growth of the current penetration rate of 2%.
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