Botswana

Axco provides details on the life insurance sector including Botswanian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Botswana, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Botswanian pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Botswana report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Summary and Trends

The market is competitive and tightly held, led by Botswana Life Insurance Ltd (BLIL), which accounts for 58.7% of market premium based on published 2018 statistics. In spite of its challenges, this is a growth market with reported premium increasing 9.47% over the previous year to BWP 4.08bn in 2018 with written premium having more than doubled in total between 2010 and 2018 ...

Summary and Trends

While the country presently benefits from a young demographic profile, the significance of the private pensions market is reflected in reported assets for 2018, which at BWP 78.97bn, amounted to nearly 42% of Botswana's GDP. Employer-sponsored provision is...

Summary and Trends

Conventional life and non-life insurance companies do not participate as underwriting freedom is curtailed by the requirement that any eligible members within the fund's scope can apply for private medical insurance (PMI) cannot be refused cover. Life companies, however, compete in ancillary health covers...