Market Share Of Insurance Companies In Zambia
Respondents market share was based on sector analysis by the pensions and insurance authority pia the insurance industry s regulator and the insurers association of zambia iaz for the year ended 31 december 2018.
Market share of insurance companies in zambia. Our 2020 zambia report include trends statistics opportunities sales data market share segmentation projections on the insurance market. These are companies with a strong presence in a number of districts or towns like lusaka chirundu livingstone and having insurance as their primary business. Of these six companies are from the life insurance sector and have a combined market share of 79 in the life sector while 11 come from the non life sector with a combined market share of 75. List of best insurance companies agencies in zambia of 2020.
Silungwe said sanlam had the largest share in terms of gwp with 24 followed by zsic life with 16 ses with 15 madison life and. The remaining two companies come from the minority reinsurance sector. Market share of 79 in the life sector while 11 come from the non life sector with a combined market share of 75. Although the market is set to bounce back any growth will be from a low base and will continue to narrowly depend on compulsory lines and the affluence of a small urban middle class.
Find insurance companies agencies in zambia and get directions and maps for local businesses in africa. Since 1991 zambia started liberalizing its economy and its finance sector leading to the entry of new financial institutions. Outline financial performance 2017 regulatory reforms prudential regulations solvency governance conduct of business fair treatment of policyholders industry development financial inclusion 6 12 2018 pensions insurance. Zambia state insurance corporation zsic.
Timetric s the insurance industry in zambia key trends and opportunities to 2020 report provides in depth market analysis information and insights into the zambian insurance industry including. And in terms of long term insurance market share mrs. Since deregulation in 1992 a number of locally registered insurance companies have. Respondents market share was based on sector analysis by the pensions and insurance authority pia the insurance industry s regulator and the insurers association of zambia iaz for the year ended.
Fair or unfair the initial impressions zambians form about some insurance companies may be based on what others say rather than what they know about these companies. Insurance industry in zambia performance regulatory overview avani livingstone 12 june 2018 6 12 2018 pensions insurance authority 1. The remaining two companies come from the minority reinsurance sector. Zambia insurance sector liberalization.
Zambia s insurance industry will be a victim of the slump in global commodity prices due to the covid 19 pandemic with declining copper prices impacting negatively across all market segments.
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