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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Republic of Congo's non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in the Republic of Congo's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Republic of Congo's non-life (P&C) market as well as trends by line of business. Axco analysts also report on the Republic of Congo'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 the Republic of Congo's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in the Republic of Congo, 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 the Republic of Congo, 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 the Republic of Congo with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The non-life insurance market comprises only six companies. Most Congolese are unaware of the benefits of insurance and too poor to regard it as a priority purchase, so penetration remains low. Growth of the market has traditionally been dependent on the oil sector. Here pressure following the drop in the global price of oil has led to a number of years of non-life insurance premium decline, reversing a growth trend that peaked in 2015. Mounting public debts have led to major public infrastructure projects being suspended ....
This is a brief extract of information; more updated information may be available in the latest published report