Insurance market in Nigeria will see solid growth this year

africa insurance market life industry growth

Experts are predicting that, regardless of the challenges in the country, the industry will be growing faster. A recent analysis has been published by KPMG and has predicted that the insurance market in Nigeria will see its growth picking up speed despite some of the challenges it has been facing over the last while. The forecast was made based on its expanding use of ICT and telecom facilities for sales, as well as the population density. The analysis results were published in “The African Insurance Market at a Glance” report…

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Insurance industry potential identified in African markets

africa insurance market life industry growth

Some marketplaces within the continent are being seen as having considerable growth potential. The current instability in the global economy and the political risks that are still obvious as barriers in the African markets, however, the insurance industry is now discovering that the region also holds a number of potential growth opportunities that have been primarily untapped. This, according to a recent report that has been issued by A.M. Best, the rating agency. The A.M. Best insurance industry report indicated that “Given anticipated development of gross domestic product (GDP) in…

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Insurance news from Nigeria reveals intentions to triple the country’s marketplace

nigeria international insurance news

If they are successful, it would bring their market up to $6.4 billion in 4 years. The most populated country of Africa, Nigeria, has just declared its latest insurance news, which includes intentions to increase its marketplace by more than three times its current value, and that it will accomplish this goal by 2017. The hope is to be able to achieve this target by improving the industry’s reputation in the nation. This insurance news announcement was made by the country’s insurance commissioner, Daniel Fola. He explained that the people…

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