Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Niger Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Niger includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Total GWP (USD)
Insurance Penetration (%)
Niger is one of the least developed countries in the world and unsurprisingly insurance penetration is very low. In 2018 it was 0.34% and historically tends to be below other countries in the region.
In 2018 the Nigerien insurance market generated XOF 17.75bn of non-life premium, a further XOF 6.51bn of personal accident and healthcare business, as well as XOF 6.64bn of life business. The non-life market (excluding personal accident and healthcare) experienced growth of 7.72% in 2018, property business recorded an 11.81% increase over the previous year.
In 2018 there were six non-life and two life companies in this market.