Summary

Market Overview:

The Djibouti insurance market size reached US$ 28.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.9 Million by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.

Insurance stands for a contractual arrangement offered by a firm providing a guarantee of reimbursement for any specified loss or damage. It provides financial protection and hedges the risks of any uncertain incidents. The Djibouti insurance market includes both life and non-life insurance (automobile, marine insurance, liability, others) policies. The insurance sector in the country is regulated by the insurance directorate at the Ministry of Economy and Finance.

The Djibouti insurance sector is expected to grow at a considerable pace owing to the improving socio-economic growth of the country, increasing penetration of international insurance companies, the launch of governmental insurance policies, and the bolstering port activities in the region. The Port of Djibouti is strategically located at the crossroads of one of the busiest shipping routes in the world, linking Europe, the Far East, the Horn of Africa, and the Persian Gulf, thereby propelling the trade activities. In Djibouti, the motor and cargo insurance has been made compulsory by the authorities; for instance, the COMESA Yellow Card Scheme is integrated with the regional network of automobile insurance companies, thereby bolstering the demand for non-life insurance policies. Additionally, the increasing disposable income levels, supported by several government insurance policies, are expected to propel the development of the personal insurance sector that will contribute to the overall insurance market in the region.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Djibouti insurance market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on type.

Breakup by Type:

Life Insurance
Non-life Insurance
Automobile Insurance
Fire Insurance
Marine & Cargo Insurance
Liability Insurance
Other Insurance

Competitive Landscape:

The report has also examined the competitive landscape of the market and some of the key players include AMERGA Assurance and GXA Assurances SA.

Key Questions Answered in This Report:

How has the Djibouti insurance market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Djibouti insurance market?
What is the breakup of the Djibouti insurance market based on the type?
What is the breakup of the Djibouti non-life insurance market based on the type?
What are the key driving factors and challenges in the Djibouti insurance market?
What is the structure of the Djibouti insurance market and who are the key players?
What is the degree of competition in the Djibouti insurance market?
What is the market share of key players in the Djibouti insurance market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Djibouti Insurance Sector Overview
4.1 Country Overview
4.2 Djibouti Key Statistics
4.3 Future Outlook
4.4 Geographic & Demographic Environment
4.4.1 Geography
4.4.2 Population
4.4.3 Djibouti Top Seven Cities by Population
4.4.4 Djibouti Population Forecast
4.5 Taxes in Djibouti
4.5.1 Income Tax
4.5.2 Minimum Tax
4.5.3 Rates
4.6 Insurance Sector Overview
4.7 Insurance Sector Key Statistics
4.8 Insurance Sector Ratios
4.9 Insurance Sector Constraints
4.10 Djibouti Insurance Law
4.10.1 Overview
4.10.2 Insurance Laws
4.10.3 Takaful Law
5 Djibouti Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.4.1 Non-Life Insurance
5.4.1.1 Market Trends
5.4.1.2 Non-Life Insurance Market: Breakup by Type
5.4.1.2.1 Automobile Insurance
5.4.1.2.1.1 Market Trends
5.4.1.2.1.2 Market Forecast
5.4.1.2.2 Fire Insurance
5.4.1.2.2.1 Market Trends
5.4.1.2.2.2 Market Forecast
5.4.1.2.3 Marine and Cargo Insurance
5.4.1.2.3.1 Market Trends
5.4.1.2.3.2 Market Forecast
5.4.1.2.4 Liability Insurance
5.4.1.2.4.1 Market Trends
5.4.1.2.4.2 Market Forecast
5.4.1.2.5 Other Insurance
5.4.1.2.5.1 Market Trends
5.4.1.2.5.2 Market Forecast
5.4.1.3 Market Forecast
5.4.2 Life Insurance
5.4.2.1 Market Trends
5.4.2.2 Market Forecast
5.5 Market Forecast
6 SWOT Analysis
6.1 Overview
6.2 Strengths
6.3 Weaknesses
6.4 Opportunities
6.5 Threats
7 Porters Five Forces Analysis
7.1 Overview
7.2 Bargaining Power of Buyers
7.3 Bargaining Power of Suppliers
7.4 Degree of Competition
7.5 Threat of New Entrants
7.6 Threat of Substitutes
8 Competitive Landscape
8.1 Market Structure
8.2 Market Share
8.3 Key Players Profile
8.3.1 AMERGA Assurance
8.3.1.1 Company Overview
8.3.1.2 Product Portfolio
8.3.1.3 Financials
8.3.1.4 SWOT Analysis
8.3.2 GXA Assurances SA
8.3.2.1 Company Overview
8.3.2.2 Product Portfolio
8.3.2.3 Financials
8.3.2.4 SWOT Analysis

List of Figures

Figure 1: Djibouti: GDP (Current Prices), in Billion US$, 2017-2022
Figure 2: Djibouti: GDP Per Capita, in US$, 2017 & 2022
Figure 3: Djibouti: Insurance Premium Per Capita, in US$, 2017 & 2022
Figure 4: Djibouti: Insurance Premium as Percentage of GDP, in US$, 2022
Figure 5: Djibouti: Insurance Policy Holders and Claims Received, 2022
Figure 6: Djibouti: Insurance Market CAGR (%)
Figure 7: Djibouti: Insurance Market: Sales Value (in Million US$), 2017-2022
Figure 8: Djibouti: Insurance Market: Breakup by Type (in %), 2022
Figure 9: Djibouti: Non-Life Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Djibouti: Non-Life Insurance Market: Breakup by Type (in %), 2022
Figure 11: Djibouti: Automobile Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Djibouti: Automobile Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Djibouti: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Djibouti: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Djibouti: Marine and Cargo Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Djibouti: Marine and Cargo Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Djibouti: Liability Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Djibouti: Liability Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Djibouti: Others Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Djibouti: Others Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Djibouti: Non-Life Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Djibouti: Life Insurance Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Djibouti: Life Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Djibouti: Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Djibouti: Insurance Industry: SWOT Analysis
Figure 26: Djibouti: Insurance Industry: Porter’s Five Forces Analysis
Figure 27: Djibouti: Insurance Market: Key Players Share

List of Tables

Table 1: Djibouti: Macro Poverty Outlook Indicators
Table 2: Djibouti: Population
Table 3: Djibouti: Top Seven Cities by Population
Table 4: Djibouti: Population Forecast
Table 5: Djibouti: Income Tax
Table 6: Djibouti: Rates of Resident Companies
Table 7: Djibouti: Rates of Resident Individuals
Table 8: Djibouti: Rates of Non-Resident Companies
Table 9: Djibouti: Insurance Industry: Sector Ratios, 2022
Table 10: Djibouti: Insurance Market: Key Industry Highlights, 2022 and 2028
Table 11: Djibouti: Insurance Industry: Competitive Structure