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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Malawian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Malawi's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Malawi non-life (P&C) market as well as trends by line of business. Axco analysts also report on Malawi'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 Malawian insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Malawi, 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 Malawi, 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 Malawi with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Political problems have dogged economic performance and the "cashgate" affair suggested that corruption was so significant that the international donor community suspended aid. Recent years have seen a currency devaluation and high inflation which have hampered market growth in dollar terms. The non-life market including personal accident and health stood at MWK 54.62bn (USD 73.88mn) in 2019. Natural hazards are usually in the form of droughts and floods although major hailstorms are a regular occurrence and affect the agricultural ....
This is a brief extract of information; more updated information may be available in the latest published report.
