Niger

Axco provides details on the life insurance sector including Niger's 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 Niger, 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 Niger's 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 Niger 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 

Niger is one of the world's poorest countries, and the United Nations ranked Niger as the least developed country in the world on its Human Development Index (HDI) in 2018. Niger is heavily dependent on trade in the informal sector and agriculture. Although Niger became a net energy exporter following the start of crude oil production in 2011, uranium mining remains the primary source of export earnings. Unsurprisingly life insurance and accident and health penetration are very low, in 2018 both were 0.13% ....

There is little differentiation between savings and pension policies within the Nigerien market. Nevertheless such policies are the primary method of providing for old age, and they typically have accounted for about a third of overall long-term business, although in the last two years to 2018 this had grown substantially to 47% in 2017 and 60% in 2018. In 2018 the split was 39.4% group savings and 20.8% individual. Group business has demonstrated particularly strong growth, with premium having grown four fold since 2015 ....

Healthcare insurance represented 21.05% of the total market size in 2018. It is one of the more important classes, showing growth of 8.5% in 2018. In that year, combined premium for personal accident and healthcare (both written on the short-term account in this market) amounted to XOF 6.5bn (USD 11.71mn), with healthcare being understood to be the majority of the figure.