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Niger

Life Report

Product Insurance Market Reports Life Rev Niger

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 Niger's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Niger'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 Niger

The Niger life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Niger. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Niger 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 Niger’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Niger is available.

Axco’s report describes the regulatory framework that applies to the domestic life insurance sector, including whether non-admitted insurance is permitted; as well as the legislation necessary to know regarding Niger’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 Niger with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Niger's 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 Niger, 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 Niger's 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 Niger 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 

Niger Life and Benefits Report Extract

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

Life Insurance

Niger is one of the world's poorest countries, and the United Nations ranked Niger as the least developed country in the world on its Human Development Index (HDI) in 2018. Niger is heavily dependent on trade in the informal sector and agriculture. Although Niger became a net energy exporter following the start of crude oil production in 2011, uranium mining remains the primary source of export earnings. Unsurprisingly life insurance and accident and health penetration are very low, in 2018 both were 0.13% ....

Pensions

There is little differentiation between savings and pension policies within the Nigerien market. Nevertheless such policies are the primary method of providing for old age, and they typically have accounted for about a third of overall long-term business, although in the last two years to 2018 this had grown substantially to 47% in 2017 and 60% in 2018. In 2018 the split was 39.4% group savings and 20.8% individual. Group business has demonstrated particularly strong growth, with premium having grown four fold since 2015 ....

Healthcare

Healthcare insurance represented 21.05% of the total market size in 2018. It is one of the more important classes, showing growth of 8.5% in 2018. In that year, combined premium for personal accident and healthcare (both written on the short-term account in this market) amounted to XOF 6.5bn (USD 11.71mn), with healthcare being understood to be the majority of the figure.

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