Table 1 ±ey characteristics of the frontier insurance markets reviewed in this sigma… 201™ €‚ƒ… €‚ƒ er caita… €‚ƒ rowth ƒouation… Non†ife enetration… ›ife enetration… ˆota enetration… in Œountry ¥Ž‚ iion ¥Ž‚ 2016†2020—„ miion in of €‚ƒ in of €‚ƒ of €‚ƒ Sub-Saharan Africa ‘noa 126 ™0¡ ¡‡’ 2™‡0 0‡’ 0‡02 1‡00 Œote d’Ivoire ¡0 1¡0 6‡¢ 22‡¢ 0‡¢ 0‡¢™ 1‡62 Ethioia ™ ™¡ 6‡™ ’’‡4 0‡™¢ 0‡04 0‡62 €hana ¡’ 1412 6‡0 2¢‡4 0‡™¢ 0‡™1 1‡0¢ ±enya 64 1¡1 6‡2 46‡1 1‡’1 1‡0¢ 2‡’ ˜oŠam išue 22 ¢’4 6‡¢ 2‡0 1‡0™ 0‡1 1‡2¡ Nieria ™02 2¢™¡ ™‡0 12‡2 0‡21 0‡0 0‡2’ ommonwealth of Indeendent States ‘Šer ai“an ™1 ™22’ 2‡6 ’‡ 0‡™ 0‡14 0‡¢2 ±aŠakhstan 12 10 ¡2¢ 4‡™ 1¢‡6 0‡™2 0‡14 0‡66 €eoria 14 ¡466 4‡4 4‡0 0‡’¢ 0‡06 1‡0¡ atin America ‰oivia ¡¢ ¡46’ ¡‡™ 10‡¢ 0‡¢ 0‡¡¡ 1‡20 Œoom ia ¡™ ¢21 ¡‡6 4’‡™ 1‡0 0‡¢¡ 2‡™4 Ecuador 10™ 64 ¡‡1 16‡2 1‡41 0‡¡1 1‡¢2 ƒeru 204 6™¡0 4‡2 ¡1‡2 0‡’¢ 0‡’ 1‡6 Southeast Asia Œam odia 1 112¢ ¢‡™ 1™‡6 0‡¡™ 0‡00 0‡¡™ ›aos 12 1¢6¢ ¢‡6 6‡ 0‡44 0‡01 0‡4™ ˜yanmar ¢6 1406 6‡’ ™¡‡’ 0‡0¢ 0‡01 0‡0 ªietnam 1’¢ 2106 6‡6 ’¡‡4 0‡¢4 0‡2 1‡™6 South Asia ‰anadesh 1’1 11’ 6‡2 161‡0 0‡1’ 0‡™¡ 0‡¢2 ƒakistan 26™ 1400 ™‡™ 1‡’ 0‡2¢ 0‡™4 0‡2 Žri ›anka ¢ ¡62¡ 6‡™ 21‡6 0‡™ 0‡4 1‡06 Note: —iures refer to 201™ uness otherwise stated‡ Žome insurance enetration rates are estimates y Žwiss ‹e Economic ‹esearch Ÿ Œonsutin if definitive fiures are not avaia e‡ — ¯ forecasts‡ Žource: ”xford Economics… Žwiss ‹e Economic ‹esearch Ÿ Œonsutin‡ ˆhis sigma aso ooks at seect frontier ˆhis sigma’s seection of frontier market is † y necessity † ar itrary to a certain markets in ‘frica… the Œommonweath deree: not a frontier markets can e incuded‡ In addition to the four main criterion… of Indeendent Žtates… ›atin ‘merica… economic reform measures or imminent accession to the ¦ord ˆrade ”ranisation Žoutheast ‘sia and Žouth ‘sia‡ ¦ˆ”„ has aso infuenced seection‡ In Žu †Žaharan ‘frica… seven frontier markets are of articuar interest to insurance: ‘noa… Œote d’Ivoire… Ethioia… €hana… ±enya… ’ ˜oŠam išue and Nieria‡ ˜eanwhie… €eoria… ‘Šer ai“an and ±aŠakhstan have een chosen as same frontier markets from the Œommonweath of Indeendent Žtates‡ ˆhe atter two disay favoura e socio†economic fundamentas to suort insurance rowth in the medium to oner term‡ ›atin ‘merican economies are eneray too are to e a tyica frontier market… with hiher incomes and with more esta ished financia sectors‡ £owever… there are some e… ‰oivia… Œoom ia… Ecuador and ƒeru„ that stradde “esta ished emerin” and “frontier market” status… and are therefore incuded in this reort‡ —rom Žoutheast ‘sia… the chosen markets are Œam odia… ›aos… ˜yanmar and ªietnam… and from Žouth ‘sia they are ‰anadesh… ƒakistan and Žri ›anka‡ 9 ˆhe seection of the seven ŽŽ‘ markets is ased on the rankin and assessment of market insurance oortunities y Žwiss ‹e‡ £ence… Nieria and ‘noa are not on the ˆo ¡0 ist… rankin ¡¢ and 4¡… resectivey‡ £owever… they do have cose fit with the rofie of frontier markets and so are aso covered in this sigma‡ Swiss Re sigma No 2/2016 ™
Insuring The Frontier Markets Page 5 Page 7