Insurance in Africa 2015
Insurance in Africa 2015
Insurance facilitates investment by reducing the amount of capital that businesses and individuals need to keep at hand to protect themselves from uncertain events. Despite its importance for economic development, the majority of African countries lack access to insurance products. Access to insurance only starts to increase quickly in the upper middle income brackets, but with most Africans still just struggling to meet their basic food and other day-to-day needs, insurance is still a long way off.
As we show in this report, the growth in the volume of insurance premiums in Africa has been among the highest in the world over the past few years. An increasing number of foreign insurance companies are also entering Africa’s underserved insurance markets.
It is especially noticeable that African companies are among the most active investors across the continent. In this report, we will explore which countries’ companies are the most active in other African countries.
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