The Insurance Industry in Eritrea, Key Trends and Opportunities to 2019

Date: 2015-12

“โ€ข The industry was led by the non-life segment, with 83.7% of the gross written premium in 2014, followed by personal accident and health insurance with 15.2%, and life insurance with 1.1%.

โ€ข With economic growth and rising consumer awareness, the Eritrean insurance industry is expected to record a forecast-period CAGR of 9.4%.

โ€ข The motor insurance category contributed 55.4% of the industryโ€™s gross written premium in 2014.

โ€ข The insurance industry in Eritrea consists of only one insurance company: NICE.

โ€ข Insurance penetration stood at 0.38% in 2014, primarily supported by the non-life segment.”

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