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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Burkina Faso non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Burkina Faso's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Burkina Faso non-life (P&C) market as well as trends by line of business. Axco analysts also report on Burkina Faso's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Burkina Faso's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Burkina Faso, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Burkina Faso, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Burkina Faso with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Burkina Faso is a poor country with economic challenges exacerbated by a worsening security situation and by the COVID-19 pandemic. Insurance penetration is low relative to other markets in the region and there is a lack of understanding about insurance amongst the majority of the population, the bulk of whom work in the informal sector. There is little industry, and growth in the non-life market has been dependent on foreign and state investment in mining and infrastructure projects ....
This is a brief extract of information; more updated information may be available in the latest published report