Life - Q1 2013


Until 2011, the general trend in Kenya had been for life density to increase gradually, from fairly low levels. The regulator has reported that, in H112, individual premiums, group premiums and pension contributions were, respectively, KES6,490mn, KES6,011mn and KES5,227mn. Life premiums in the first half of the year were, therefore, KES17,728mn. For the time being, we are looking for life premiums of KES38,663mn for the calendar year as a whole. This implies a further - and significant - increase in life density from about US$8.37 per capita to US$10.51 per capita. In part because of product innovation and in part because of the greater strength and security that is provided by the participation of South African insurers, life insurance premiums are surging. For now, our projections assume that life density rises to US$16 per capita over the forecast period.

Kenya's Life Insurance Segment, 2010-2017
2010 2011 2012f 2013f 2014f 2015f 2016f 2017f
Enter table source
Total life premiums, KESmn 26,710 30,930 38,663 42,760 49,543 56,919 64,913 73,553
Total life premiums, KES, % change y-o-y 25.0 15.8 25.0 10.6 15.9 14.9 14.0 13.3
Total life premiums, KES per capita 659 743 904 974 1,098 1,229 1,365 1,508
Total life premiums, % of GDP 1 1 1 1 1 1 1 1
Total life premiums, % of total premiums 34 34 34 33 33 33 33 32
Total life premiums, US$mn 337 348 449 483 541 602 666 732
Total life premiums, US$, % change y-o-y 22.1 3.3 29.0 7.6 12.1 11.2 10.5 9.9
Total life premiums, US$ per capita 8 8 11 11 12 13 14 15
Total life premiums, EURmn 254 250 354 396 451 502 555 610
Total life premiums, EUR, % change y-o-y 28.8 -1.4 41.2 12.0 13.9 11.2
Total life premiums, EUR per capita 6 6 8 9 10 11 12 13
This article is tagged to:
Sector: Insurance
Geography: Kenya, Kenya, Kenya, Kenya