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Botswana

Life Report

Product Insurance Market Reports Life Rev Botswana

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice

 

  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Botswana's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Botswana's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Botswana

The Botswana life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Botswana.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Botswana and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Botswana’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Botswana is available.

Axco’s report describes the regulatory framework that applies to the Botswana domestic life insurance sector, including whether non-admitted insurance is permitted in Botswana; as well as the legislation necessary to know regarding Botswana’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Botswana with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Botswanian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

Healthcare

The report describes the public and private healthcare system in Botswana, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Pensions

Axco reports on the three pillars of Botswanian pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Botswana report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Botswana Life and Benefits Report Extract

Below are brief extracts of information from the Botswana Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Summary and Trends

The market is competitive and tightly held, led by Botswana Life Insurance Ltd (BLIL), which accounts for 58.7% of market premium based on published 2018 statistics. In spite of its challenges, this is a growth market with reported premium increasing 9.47% over the previous year to BWP 4.08bn in 2018 with written premium having more than doubled in total between 2010 and 2018 ...

Pensions

Summary and Trends

While the country presently benefits from a young demographic profile, the significance of the private pensions market is reflected in reported assets for 2018, which at BWP 78.97bn, amounted to nearly 42% of Botswana's GDP. Employer-sponsored provision is...

Healthcare

Summary and Trends

Conventional life and non-life insurance companies do not participate as underwriting freedom is curtailed by the requirement that any eligible members within the fund's scope can apply for private medical insurance (PMI) cannot be refused cover. Life companies, however, compete in ancillary health covers...

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