North Africa Insurance Report - Business Monitor International - Industry Reports

North Africa Insurance Report

North Africa Insurance Report - Business Monitor International - Industry Reports
North Africa Insurance Report
Published Mar 07, 2015
107 pages — Published Mar 07, 2015
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

BMI View: We see significant potential in North Africa for insurers. However, continued economic constraints will hamper the full development of the sector over the short term, particularly the non-life segment. ...Over the longer term, we expect life insurance will see stronger growth. At present it is very much the underperformer in contrast to non life, however as the regional economy stabilises and strengthens in the wake of the ---- Arab spring upheaval, we expect to see a concomitant strengthening of income levels. This will boost the emergence of a more affluent middle class, who represent the key demographic for life insurance. ...At present it is very much the underperformer in contrast to non life, however as the regional economy stabilises and strengthens in the wake of the ---- Arab spring upheaval, we expect to see a concomitant strengthening of income levels. This will boost the emergence of a more affluent middle class, who represent the key demographic for life insurance.

...With the exception of Algeria and Morocco s non-life markets, none of the other life or non-life segments in the region are large in absolute terms. Insurance penetration remains low and we expect it to remain so over the coming years due to the low affordability among consumers. ...Although many of the insurers are listed, they do not have ready access to capital due to the lack of depth in the region s capital markets. The under-developed nature of local financial markets makes it difficult for insurers to find suitable assets to match the duration of their liabilities. The challenges that constrain the development of takaful - such as the lack of suitably skilled shari a scholars - apply throughout the region. ...The challenges that constrain the development of takaful - such as the lack of suitably skilled shari a scholars - apply throughout the region. Regulators and trade associations in North Africa (including Egypt) continue to do less than their counterparts in other MENA countries to promote the insurance sector.

...The Moroccan government is putting forward bill making it mandatory for a project owner, the engineer and the architect to buy insurance cover for a construction site. Morocco-based mutual bank Banque Centrale Populaire (BCP) has secured required official authorisations to launch its insurance division, which will be named Attaamine Chaabi. ...

  
Source:
Document ID
1757-1243
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Cite this Report

  
MLA:
Business Monitor International - Industry Reports. "North Africa Insurance Report" Mar 07, 2015. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/North-Africa-Insurance-Report-2026-691>
  
APA:
Business Monitor International - Industry Reports. (2015). North Africa Insurance Report Mar 07, 2015. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/North-Africa-Insurance-Report-2026-691>
  
US$ 1,295.00
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