Cape Verde Insurance Industry – Key Trends and Opportunities to 2026
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The gross written premium (GWP) of Cape Verde insurance industry was $31.8 million in 2021. The market is expected to achieve a CAGR of more than 9% during 2021-2026.
The Cape Verde insurance market report gives a comprehensive overview of the Cape Verdean economy, government initiatives, and investment opportunities. The report also gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report includes details of Cape Verde’s reinsurance business’s market structure.
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Cape Verde Insurance Market by Key Segments
The Cape Verdean insurance industry is classified into life insurance and general insurance. The general insurance segment dominated the total insurance market in terms of gross written premiums (GWP). The life insurance industry witnessed a significant growth in 2021, mainly due to the COVID-19 pandemic-induced awareness. Term life insurance was the largest sub-segment, accounting for more than half of the total life insurance GWP.
Cape Verde Insurance Industry, by Key Segments
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Cape Verde General Insurance Market Segmentation by Lines of Business
The key lines of business in the Cape Verde general insurance industry are motor, property, liability, financial lines, marine, aviation, & transit (MAT), and non-life personal accident & health (Non-Life PA&H). Motor insurance was the largest sub-segment within general insurance, followed by property insurance.
Cape Verde General Insurance Industry, by Key Lines of Business
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Competitive Landscape
The companies in the Cape Verdean insurance industry are Garantia – Companhia De Seguros De Cabo Verde, SA and Impar – Companhia Caboverdiana De Seguros.
Garantia – Companhia De Seguros De Cabo Verde, SA: The state-owned company Garantia – Companhia De Seguros De Cabo Verde, SA offers both the life and general insurance products and services in both Cape Verde and Portugal.
Impar – Companhia Caboverdiana De Seguros, Sarl: The company’s line of business includes life insurance, motor insurance and fire and miscellaneous insurance.
Cape Verde Insurance Industry Overview
Market Size (2021) | $31.8 million |
CAGR (2021 – 2026) | >9% |
Key Segments | Life Insurance and General Insurance |
Key Lines of Business | Property, Motor, Liability, Financial Lines, Marine, Aviation, & Transit (MAT), and Non-Life Personal Accident & Health (Non-Life PA&H) |
Leading Companies | Garantia – Companhia De Seguros De Cabo Verde, SA and Impar – Companhia Caboverdiana De Seguros |
Scope
This report provides a comprehensive analysis of the Cape Verdean insurance industry –
- It provides historical values for the Cape Verdean insurance industry for the report’s 2017-2021 review period, and projected figures for the 2021-2026 forecast period.
- It offers a detailed analysis of the key categories in the Cape Verdean insurance industry, and market forecasts to 2026.
- It profiles the top life insurance companies in Cape Verde and outlines the key regulations affecting them.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Cape Verdean insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Cape Verdean insurance industry.
- Assess the competitive dynamics in the Cape Verdean insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Impar - Companhia Caboverdiana De Seguros, Sarl
Table of Contents
Frequently asked questions
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What was the Cape Verde insurance industry gross written premium in 2021?
The gross written premium of Cape Verde insurance industry was $31.8 million in 2021.
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What is the Cape Verde insurance industry growth rate?
The Cape Verde insurance industry is forecast to grow at a CAGR of more than 9% during 2021-2026.
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What are the key segments of the Cape Verde insurance industry?
The key segments of the Cape Verde insurance industry are life insurance and general insurance.
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What are the key lines of business in the Cape Verde general insurance industry?
The key lines of business in the Cape Verde general insurance industry are property, motor, liability, financial lines, marine, aviation, & transit (MAT), and non-life personal accident & health (Non-Life PA&H).
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Which are the leading companies in the Cape Verde insurance industry?
The leading insurance companies in Cape Verde are Garantia – Companhia De Seguros De Cabo Verde, SA and Impar – Companhia Caboverdiana De Seguros.
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