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Zambia ranks among the top 15 fastest-growing economies globally, and its economy continues to be strong, with the country having achieved middle income status in 2011. Zambia's economy grew at a CAGR of 14.9% during the review period, and is estimated to grow by 7.1% in 2014. Led by relatively stable economic growth and a progressive regulatory environment, the country's insurance industry registered strong growth during the review period, driven primarily by the non-life segment, which accounted for 63.7% of the industry's gross written premium value in 2013. Gross written premium grew at a review-period CAGR of 15.6%, and is projected to grow at a CAGR of 13.9% over the forecast period. A number of insurance companies entered the industry, attracted by the positive growth potential and low penetration rate, which stood at 1.37% in 2012, compared with the African average of 3.65%.
Complete reports is available @ http://marketreportsstore.com/the-insurance-industry-in-zambia-key-trends-and-opportunities-to-2018/ .