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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Ghana non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Ghana's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Ghana non-life (P&C) market as well as trends by line of business. Axco analysts also report on Ghana'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 Ghana's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Ghana, 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 Ghana, 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 Ghana with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The non-life insurance market (excluding PA and health business) grew by 11.5% in 2019, according to the latest available statistics. This reflects the renewal in 2019 of the market's largest account, PEMEX, which is typically renewed for a two-year period. Total insurance premium income was MXN 594.98bn (USD 30.89bn) of which life and pensions formed some 45.21%, PA and healthcare 15.46% and non-life business 39.32%. Motor remained the largest class, representing 49.2% of non-life premiums excluding personal accident and healthcare ....
This is a brief extract of information; more updated information may be available in the latest published report.