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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Togo non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Togo's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Togo non-life (P&C) market as well as trends by line of business. Axco analysts also report on Togo'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 Togo's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Togo, 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 *, 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 Togo with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Togo is a small non-life market with a relatively low level of insurance penetration at 0.58% of GDP. There is little industry and few new risks entering the market as investment has reduced in the face of strained government finances and a lack of political certainty for outside investors.
The COVID-19 pandemic will inevitably have an impact on the Togolese non-life insurance market in due course although most risks had already renewed for 2020 before the government took steps to stop the spread of the virus. In the short term it is likely to hit the informal sector ....
This is a brief extract of information; more updated information may be available in the latest published report.