Magazine date:
Jun 2018 Total underwritten premiums amounted to 66.691 million USD compared to 59.408 million USD in 2016. Non-life insurance increased by 9.27% at 21.792 million USD, while life insurance grew by 13.7% from 39.465 million USD in 2016 to 44.899 million USD in 2017.
The South African insurance market [4] is still at the top of the ranking with a share of 71.7%. It is followed by Morocco (5.6%), Kenya (3%) and Egypt (2.4%).
Insurance industry in Africa: evolution of life and non life premiums (2016-2017)
In millions USD| 2017 | 2016 | 2017 shares | 2016/2017 evolution | |
|---|---|---|---|---|
Life premiums | 44 899 | 39 465 | 67.32% | 13.77% |
Non life premiums | 21 792 | 19 943 | 32.68% | 9.27% |
| Total | 66 691 | 59 408 | 100% | 12.26% |
Insurance industry in Africa: evolution of life and non life premiums of the main countries (2016-2017)
In millions USD| 2017 | 2016 | 2017 shares | 2016/2017 evolution | |
|---|---|---|---|---|
South Africa | 47 796 | 41 080 | 71.7% | 16.4% |
Morocco | 3 718 | 3 561 | 5.6% | 3.3% |
Kenya | 2 000 | 1 923 | 3% | 5.3% |
Egypt | 1 587 | 2 125 | 2.4% | -23.8% |
Algeria | 1 215 | 1 197 | 1.8% | 1.5% |
Namibia | 965 | 763 | 1.4% | 26.47% |
Nigeria | 902 | 1 103 | 1.3% | -18.22% |
Tunisia | 814 | 857 | 1.2% | -5.02% |
Angola | 780 | 617 | 1.2% | 26.42% |
Rest of the market | 6 914 | 6 182 | 10.4% | 11.82% |
| Total Africa | 66 691 | 59 408 | 100% | 12.26% |
Insurance industry in Africa: evolution of life premiums of the main countries (2016-2017)
In millions USD| 2017 | 2016 | 2017 shares | 2016/2017 evolution | |
|---|---|---|---|---|
South Africa | 38 286 | 33 008 | 85.3% | 16% |
Morocco | 1 523 | 1 457 | 3.4% | 4.53% |
Kenya | 807 | 724 | 1.8% | 11.5% |
Egypt | 761 | 1 020 | 1.7% | -25.4% |
Namibia | 686 | 524 | 1.53% | 30.92% |
Nigeria | 274 | 375 | 0.61% | -26.93% |
Tunisia | 166 | 175 | 0.4% | -5.14% |
Algeria | 117 | 105 | 0.26% | 11.43% |
Angola | 15 | 12 | 0.03% | 25% |
Rest of the market | 2 264 | 2 065 | 5% | 9.6% |
| Total Africa | 44 899 | 39 465 | 100% | 13.77% |
Insurance industry in Africa: evolution of non life premiums of the main countries (2016-2017)
In millions USD| 2017 | 2016 | 2017 shares | 2016/2017 evolution | |
|---|---|---|---|---|
South Africa | 9 510 | 8 072 | 43.6% | 17.81% |
Morocco | 2 195 | 2 103 | 10.07% | 4.4% |
Kenya | 1 192 | 1 199 | 5.4% | -0.6% |
Algeria | 1 099 | 1 091 | 5.04% | 0.73% |
Egypt | 826 | 1 104 | 3.8% | -25.2% |
Angola | 764 | 605 | 3.51% | 26.3% |
Tunisia | 647 | 682 | 3% | -5.13% |
Nigeria | 628 | 728 | 2.9% | -13.7% |
Namibia | 279 | 239 | 1.3% | 16.7% |
Rest of the market | 4 652 | 4 120 | 21.35% | 12.96% |
| Total Africa | 21 792 | 19 943 | 100% | 9.27% |
