Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The insurance market consists of the non-life and life insurance sectors. The value of the market is shown in terms of gross premium incomes.
- The Nigerian insurance market had total gross written premiums of $1.2bn in 2020, representing a compound annual growth rate (CAGR) of 10.7% between 2016 and 2020.
- The life insurance segment was the market's most lucrative in 2020, with total gross written premiums of $0.6bn, equivalent to 52.9% of the market's overall value.
- The COVID-19 pandemic, which first took hold in Nigeria in early 2020, has had a significant impact on many markets around the world, including insurance. Interest rate cuts and a reduction in demand for certain types of insurance, such as motor and travel, have constrained insurers profits and contributed to market decline.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Nigeria
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Nigeria
- Leading company profiles reveal details of key insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria insurance market with five year forecasts
Reasons to Buy
- What was the size of the Nigeria automotive manufacturing market by value in 2020?
- What will be the size of the Nigeria automotive manufacturing market in 2025?
- What factors are affecting the strength of competition in the Nigeria automotive manufacturing market?
- How has the market performed over the last five years?
- Who are the top competitors in Nigeria's automotive manufacturing market?
Table of Contents
1 Executive Summary
2 Market Overview
3 Market Data
4 Market Segmentation
5 Market Outlook
6 Five Forces Analysis
7 Competitive Landscape
8 Company Profiles
9 Macroeconomic Indicators
10 Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Leadway Assurance Company Ltd
- Aiico Insurance PLC
- Cornerstone Insurance Plc
- Custodian Investment PLC
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 42 |
| Published | November 2021 |
| Forecast Period | 2020 - 2025 |
| Estimated Market Value ( USD | $ 1.22 Billion |
| Forecasted Market Value ( USD | $ 1.65 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Nigeria |
