Market growth despite a poor penetration rate

Experts of Rwandan insurance estimate that the sector is dotted with a good capital despite the poor penetration rate of 2,3%. The turnover posted in 2011 by all insurers has attained 143.7 billion RWF (241.5 million USD), that is, a 12.1% increase over one year. Profits are also on the rise for most of the actors. This boom is accounted for by the good performance of the local economy. The ignorance of insurance by the common people and the scarcity of skilled labor stand as the two major impediments to market development.