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Nigeria Ranks Fifth Largest Insurance Market In Africa by voiceoftheupcom: 6:03am On May 30, 2017 |
NIGERIA RANKS FIFTH LARGEST INSURANCE MARKET IN AFRICA source: http://www.eyesoflagos.com/2017/05/nigeria-ranks-fifth-largest-insurance.html Despite the low insurance adoption, penetration and acceptance in the country, Nigeria’s insurance industry is ranked fifth in Africa. The top five insurance markets on the continent are said to have overall market share of 85 percent of premiums across Africa. General-Secretary of the African Insurance Organization (AIO), Ms Prisca Soares, speaking at a press conference after the launching of the second Africa Insurance Barometer at the just concluded 44th AIO Conference and General Assembly in Kampala, Uganda, said insurance market in the continent was still dominated by South Africa. The other major markets, she mentioned, include Morocco, Egypt, Kenya and Nigeria while the top five markets account for 85 percent of the total premiums. Kenya grew fastest in 2015 achieving a compound annual growth rate of slightly more than 10 percent from 2011 – 2015, Soares said. According to her, “With a volume of $46 billion, representing 72 percent of the total insurance premiums in the continent, South Africa is still by far Africa’s largest insurance market. Of the five major markets, South Africa tops the list followed by Kenya, Morocco and Egypt while Nigeria ranked fifth on the list.” The Africa Insurance Barometer, she pointed out, provides a comprehensive overview of the current state and future prospects of the US$ 64 billion African insurance market, stressing that lack of insurance awareness and trust were the main factors contributing to the lacklustre performance in most of the markets. “Only South Africa is on par at 1.9 per cent and 2.0 per cent. Kenya and Morocco have higher non-life insurance penetration levels than could be expected, based on their economic development. Insurance market development in both countries is facilitated by advanced and well-respected regulatory and supervisory authorities,” she noted. She expressed optimism that Africa’s insurance penetration, which currently stands at 2.9 per cent or less than half of the global average, will translate into accelerated premium growth –provided global demand and commodity prices continue to bounce back in 2017 and 2018.
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Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by eezeribe(m): 6:05am On May 30, 2017 |
With our quack insurance service providers who are more fraudulent than our GSM service providers and banks... 2 Likes |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Young03(m): 6:26am On May 30, 2017 |
Its a lie, how can u be away from 9ja and telling us wat we r seeing daily its not 5th, we no even dey top 10 3 Likes |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Freaknasty: 6:43am On May 30, 2017 |
Young03: Why?? Do you have facts and figures to prove otherwise? 6 Likes |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by smartty68(m): 7:53am On May 30, 2017 |
Even inside lies lies dey. Them don the use lies give Naija hope from decades before. It's well 2 Likes |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Oladelson(m): 7:54am On May 30, 2017 |
hmmmm? i di nt understand o. |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Deeldorado: 7:54am On May 30, 2017 |
It's a very poor performance. We should be at least second in Africa. |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by smartty68(m): 7:55am On May 30, 2017 |
Deeldorado:Please epp and tell them o |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Pavore9: 7:55am On May 30, 2017 |
Poor performance. |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Nobody: 7:55am On May 30, 2017 |
Nigeria has dropped in all economic ratings since the inception of buhari tenure. Too Sad. 6 Likes |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Edopesin: 7:58am On May 30, 2017 |
Thats True Besides Most Pple In Africa [ Even Nigeria ] Don't Even Knw What Insurance Is.... Explain To Some Pple Dey Will Say Its Scam Am Even Surprised Nigeria Is Among Sef 5 Likes |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by dolphinife: 7:58am On May 30, 2017 |
Nigerians are still skeptical about insurance Immediately u mention Insurance, the next thing they think of is probably death.... |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by slurryeye2: 7:59am On May 30, 2017 |
With our population, we should be top of that list |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Dopeyomi(m): 8:02am On May 30, 2017 |
We studying Insurance now have hope.. My dad once said to me: he regretted allowing me to pick a course of my choice! 3 Likes 1 Share
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Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by 3rdavefarms(m): 8:03am On May 30, 2017 |
First bank insurance made it simpler and that is why we |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by ceejayluv(m): 8:11am On May 30, 2017 |
We should be First... |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by kolafolabi(m): 8:12am On May 30, 2017 |
I totally disagree. 2 Likes |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by shaddoww: 8:13am On May 30, 2017 |
Some people already saying it's not true, bt among those dat already made a comment, it will be difficult to get one person dat is insured. |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Mandesz(m): 8:36am On May 30, 2017 |
we're always ranked high in nonsense like this |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by saintkash(m): 8:38am On May 30, 2017 |
If you have not insured anything in ur life as a Nigeria pls like but u have then click the share button 2 Likes 1 Share |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by ogobaby23(f): 8:45am On May 30, 2017 |
We have the population no doubt. 180 million plus is no child's play |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by undisputedgbola(m): 8:46am On May 30, 2017 |
saintkash:What shall it profit a man that is looking for ordinary likes and shares instead of dropping a meaningful opinion....... How can u even insure yourself as a *NIGERIA*?? |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by DonCortino: 8:58am On May 30, 2017 |
Freaknasty: And what facts do u have to prove ur own? |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by BrandSpurNG: 9:02am On May 30, 2017 |
Nigeria Emerges 5th Largest Insurance Market In Africa https://www.nairaland.com/3820168/nigeria-emerges-5th-largest-insurance |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by kinzation(m): 9:16am On May 30, 2017 |
Dopeyomi:don't be discouraged insurance would be great in Nigeria once again....#always be a risk manager..#i'm proudly an underwriter 1 Like |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by kinzation(m): 9:18am On May 30, 2017 |
3rdavefarms:underwriter sighted |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by koife(m): 9:21am On May 30, 2017 |
I think the indices is spot on...first bank Nigeria insurance and Salem group are doing great job. I can't speak for others but I can attest for fbni coz I work there and ppl are really give it a shot! Ask me anything about insurance, from annuity, life, risk, mortgage, shipment or good in transit, travel, car etc...I am here to give you professional advise and get you sign up in one. 08030972730 1 Like 1 Share
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Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by Pray(m): 10:18am On May 30, 2017 |
Enlighten me about Mutual Benifits Life Assurance koife: |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by ALAYORMII: 11:31am On May 30, 2017 |
Pray: Contact Mii for what ever you want to know about Mutual Benefits Life Assurance 08026330644 |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by sashash(m): 1:35pm On May 30, 2017 |
ogobaby23:yes we have the population but less than 10% of Nigerians do insurance even common 3rd party ! |
Re: Nigeria Ranks Fifth Largest Insurance Market In Africa by WenysAD(f): 4:28pm On May 30, 2017 |
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