NIGERIA RANKS FIFTH LARGEST INSURANCE MARKET IN AFRICA
source: http://www.eyesoflagos.com/2017/05/nigeria-ranks-fifth-largest-insurance.html

Despite the low insurance adoption, penetration and acceptance in the country, Nigeria’s insurance industry is ranked fifth in Africa. The top five insurance markets on the continent are said to have overall market share of 85 percent of premiums across Africa.
General-Secretary of the African Insurance Organization (AIO), Ms Prisca Soares, speaking at a press conference after the launching of the second Africa Insurance Barometer at the just concluded 44th AIO Conference and General Assembly in Kampala, Uganda, said insurance market in the continent was still dominated by South Africa.
The other major markets, she mentioned, include Morocco, Egypt, Kenya and Nigeria while the top five markets account for 85 percent of the total premiums. Kenya grew fastest in 2015 achieving a compound annual growth rate of slightly more than 10 percent from 2011 – 2015, Soares said.
According to her, “With a volume of $46 billion, representing 72 percent of the total insurance premiums in the continent, South Africa is still by far Africa’s largest insurance market. Of the five major markets, South Africa tops the list followed by Kenya, Morocco and Egypt while Nigeria ranked fifth on the list.”
The Africa Insurance Barometer, she pointed out, provides a comprehensive overview of the current state and future prospects of the US$ 64 billion African insurance market, stressing that lack of insurance awareness and trust were the main factors contributing to the lacklustre performance in most of the markets.
“Only South Africa is on par at 1.9 per cent and 2.0 per cent. Kenya and Morocco have higher non-life insurance penetration levels than could be expected, based on their economic development. Insurance market development in both countries is facilitated by advanced and well-respected regulatory and supervisory authorities,” she noted. She expressed optimism that Africa’s insurance penetration, which currently stands at 2.9 per cent or less than half of the global average, will translate into accelerated premium growth –provided global demand and commodity prices continue to bounce back in 2017 and 2018.

With our quack insurance service providers who are more fraudulent than our GSM service providers and banks...

Its a lie, how can u be away from 9ja and telling us wat we r seeing daily
its not 5th, we no even dey top 10

Young03:
Its a lie, how can u be away from 9ja and telling us wat we r seeing daily

its not 5th, we no even dey top 10

Why?? Do you have facts and figures to prove otherwise?

Even inside lies lies dey. Them don the use lies give Naija hope from decades before. It's well

hmmmm?

i di nt understand o.

It's a very poor performance. We should be at least second in Africa.

Deeldorado:
It's a very poor performance. We should be at least second in Africa.

Please epp and tell them o

Poor performance.

Nigeria has dropped in all economic ratings since the inception of buhari tenure.

Too Sad.

Thats True
Besides Most Pple In Africa [ Even Nigeria ] Don't Even Knw What Insurance Is....
Explain To Some Pple Dey Will Say Its Scam


Am Even Surprised Nigeria Is Among Sef

Nigerians are still skeptical about insurance

Immediately u mention Insurance, the next thing they think of is probably death....

With our population, we should be top of that list

We studying Insurance now have hope..




My dad once said to me: he regretted allowing me to pick a course of my choice!

First bank insurance made it simpler and that is why we

We should be First...

I totally disagree.

Some people already saying it's not true, bt among those dat already made a comment, it will be difficult to get one person dat is insured.

we're always ranked high in nonsense like this

If you have not insured anything in ur life as a Nigeria pls like but u have then click the share button

We have the population no doubt.

180 million plus is no child's play

saintkash:
If you have not insured anything in ur life as a Nigeria pls like but u have then click the share button

What shall it profit a man that is looking for ordinary likes and shares instead of dropping a meaningful opinion.......













How can u even insure yourself as a *NIGERIA*??

Freaknasty:


Why?? Do you have facts and figures to prove otherwise?

And what facts do u have to prove ur own?

Nigeria Emerges 5th Largest Insurance Market In Africa

https://www.nairaland.com/3820168/nigeria-emerges-5th-largest-insurance

Dopeyomi:
We studying Insurance now have hope..




My dad once said to me: he regretted allowing me to pick a course of my choice!

don't be discouraged insurance would be great in Nigeria once again....#always be a risk manager..#i'm proudly an underwriter

3rdavefarms:
First bank insurance made it simpler and that is why we

underwriter sighted

I think the indices is spot on...first bank Nigeria insurance and Salem group are doing great job. I can't speak for others but I can attest for fbni coz I work there and ppl are really give it a shot!
Ask me anything about insurance, from annuity, life, risk, mortgage, shipment or good in transit, travel, car etc...I am here to give you professional advise and get you sign up in one.
08030972730

Enlighten me about Mutual Benifits Life Assurance

koife:
I think the indices is spot on...first bank Nigeria insurance and Salem group are doing great job. I can't speak for others but I can attest for fbni coz I work there and ppl are really give it a shot!
Ask me anything about insurance, from annuity, life, risk, mortgage, shipment or good in transit, travel, car etc...I am here to give you professional advise and get you sign up in one.
08030972730

Pray:
Enlighten me about Mutual Benifits Life Assurance

Contact Mii for what ever you want to know about Mutual Benefits Life Assurance


08026330644

ogobaby23:
We have the population no doubt.

180 million plus is no child's play

yes we have the population but less than 10% of Nigerians do insurance even common 3rd party !

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