2018 Insurance Industry Report

Overview of Insurance Industry Report

Agusto & Co’s Insurance Industry Report provides a comprehensive study on the Nigerian Insurance Industry’s performance including 2017 estimates as well as our forecast for 2018. The report analyses the financial condition of each business segment (Composite, Non-Life, Life and Reinsurance) on a stand-alone basis and as an Industry.

Our assessment of the Industry is based on figures and information published in the approved financial statements of forty nine (49) licensed underwriters and reinsurers for the period ended 31 December 2016. These 49 insurers collectively accounted for 96% of the Industry’s estimated Gross Premium Income (GPI) generated in the financial year 2016 and provide a good representation of the Industry.

In this year’s report, we have enlarged our competitive landscape scope and ranked industry operators using various indicators (including ratios) under investment management, profitability, resources, capital adequacy, cash flow & liquidity and risk retention & exposure. Based on our experience in rating insurance companies in Nigeria, we have provided our expertise and candid opinion on key factors which we believe will shape the Industry’s performance in the near term.

The economy went into full blown recession in 2016 up until Q2, 2017. As a result, premiums collected by the Industry declined across major business lines.

  1. Provides comprehensive analysis and insights on the financial performance of the Insurance Industry
  2. Provides data on the most recent and available full year financials of 49 insurance companies
  3. Provides compelling historic and forecasted data as well as strong bases to support strategy  discussions, particularly for players in the industry and financiers
  4. Provides key factors that will determine success in the Industry
  5. Competitive intelligence about market leaders by major business lines
  6. Provides 5 years financial information on the Industry (2014 – 2018f).
  1. Contains 32 pages of rankings across financial matrixes such as profitability, investment management, resources, capital adequacy, cash flow & liquidity and risk retention & exposure.
  2. Tracks key regulations and key risk areas.