2023 Insurance Industry Report

Overview of the Report

In 2022, the Insurance Industry contended with weak macroeconomic indicators which negatively impacted the Industry’s performance. However, the non-recurrence of significant #EndSARS-related claims settlement was an upside during the review period.

Agusto & Co.’s 2023 Insurance Industry Report analyses the following:

• The impact of the macroeconomic environment on the Insurance Industry
• The key trends and developments in the Industry
• The changes in the regulatory environment and expected impact on the Industry
• A detailed analysis of the Industry’s Gross Premium Income (with breakdown by operating segments and business lines)
• A comprehensive ranking of Industry players across various financial indicators
• A detailed analysis of the Industry’s financial condition, based on figures and information published in the financial statements of forty-five (45) insurance companies for the period ended 31 December 2021
• A summary of key financial indicators for the third quarter of 2022 using available unaudited accounts of 15 underwriters
• The Insurance Industry’s three years historical data estimates for 2022 and forecasts for 2023
• An outlook for the Industry