Insurance in sub-Saharan Africa: growth stutters, but fundamentals are strong
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The latest Expertise Publication from the Swiss Re Institute reviews recent developments in the economy and insurance markets of sub-Saharan Africa (SSA) excluding South Africa. It assesses the challenges and opportunities that lie ahead. Though still positive, in real terms SSA insurance premium growth has slowed notably from 2014 and came to a halt in 2016, mainly because of the weaknesses in oil exporting countries. However, the outlook is still positive based on the expectation of a recovery of economic activity and a continuation of the trend of increasing middle class. Key growth areas in the insurance sector lie in agriculture, health/medical and life/funeral coverage. The report is available on request for distribution to Swiss Re clients in hard copy only.
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