Central African Republic Insurance Market Competitive Landscape & Advancements to 2018
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Synopsis
The report provides in-depth industry analysis, information and insights of the insurance industry in Central African Republic, including:
The Central African Republic insurance industry's growth prospects by insurance segments and categories
The competitive landscape in the Central African Republic insurance industry
The current trends and drivers of the Central African Republic insurance industry
Challenges facing the Central African Republic insurance industry
The detailed regulatory framework of the Central African Republic insurance industry
Summary
The Central African Republic insurance industry grew at a compound annual growth rate (CAGR) of 10.8% during the review period (2009-2013). The increase was partly a consequence of stable economic development, the nation's expanding mining industry, and various infrastructure projects centering around the laying of fiber-optic cables, the modernizing transport routes and improving energy capacity. Growth in the life insurance segment, which recorded a review-period CAGR of 18.6%, also supported the growth of the Central African Republic insurance industry during the review period. However, the industry is relatively small on a global scale. Insurance penetration in Africa was low, at 1.6% in 2012. For the Central African Republic, however, the figure stood at 0.37% in 2012 and 0.44% in 2013, compared to the global average of 7.0% in 2012. Around 90% of the African population remains uninsured, which provides immense growth potential and foreign investment opportunities. This, combined with stable economic development of the Central African
Synopsis
The report provides in-depth industry analysis, information and insights of the insurance industry in Central African Republic, including:
The Central African Republic insurance industry's growth prospects by insurance segments and categories
The competitive landscape in the Central African Republic insurance industry
The current trends and drivers of the Central African Republic insurance industry
Challenges facing the Central African Republic insurance industry
The detailed regulatory framework of the Central African Republic insurance industry
Summary
The Central African Republic insurance industry grew at a compound annual growth rate (CAGR) of 10.8% during the review period (2009-2013). The increase was partly a consequence of stable economic development, the nation's expanding mining industry, and various infrastructure projects centering around the laying of fiber-optic cables, the modernizing transport routes and improving energy capacity. Growth in the life insurance segment, which recorded a review-period CAGR of 18.6%, also supported the growth of the Central African Republic insurance industry during the review period. However, the industry is relatively small on a global scale. Insurance penetration in Africa was low, at 1.6% in 2012. For the Central African Republic, however, the figure stood at 0.37% in 2012 and 0.44% in 2013, compared to the global average of 7.0% in 2012. Around 90% of the African population remains uninsured, which provides immense growth potential and foreign investment opportunities. This, combined with stable economic development of the Central African