New Market Research Report: The Insurance Industry in Eritrea, Key Trends and Opportunities to 2017

The insurance industry is relatively small in size and encompasses a population of 5.7 million. Insurance penetration as a percentage of GDP is very low at 0.4% in 2012 and this was almost entirely represented by the non-life insurance segment alone. A lack of awareness about insurance, particularly in rural areas where 75% of the country's population reside, is the major growth hinderer of life insurance. Furthermore, the social and family structures in the country often negate insurance benefits. Insurance policies are designed by keeping the urban population in mind, resulting in insurance benefits being of less significance for the rural population.

Key Highlights

* Fuelled by strong economic growth, the Eritrean insurance industry posted healthy growth during the review period and this trend is expected to continue over the forecast period.
* The loss ratio stood at 31.4% for life insurance in 2011 while it increased significantly from 31% in 2010 to 43.8% in 2011 for non-life insurance.
* Insurance penetration as a percentage of GDP is very low at 0.4% in 2012 and this was almost entirely represented by the non-life insurance segment.
* The growing economy propelled the growth of the insurance industry during the review period, but the total market size still remains very small.
* The robust performance of the construction industry during the review period propelled the demand for property insurance in Eritrea and this trend is expected to continue over the forecast period.

Full Report Details at
- http://www.fastmr.com/prod/599054_the_insurance_industry_in_eritrea_key_trends_and.aspx?afid=301

Scope

This report provides a comprehensive analysis of the insurance industry in Eritrea:

* It provides historical values for the Eritrean insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key segments and categories in the Eritrean insurance industry, along with industry forecasts until 2017
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
* It outlines the key regulations in the industry

Reasons to Get this Report

* Make strategic business decisions using in depth historic and forecast industry data related to the Eritrean insurance industry and each segment within it
* Assess the competitive dynamics in the Eritrean insurance industry
* Understand the demand-side dynamics, key market trends and growth opportunities within the Eritrean insurance industry
* Identify the growth opportunities and market dynamics within key segments
* Gain insights into key regulations governing the Eritrean insurance industry and its impact on companies and the industry's future

About Fast Market Research

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For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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