p71-3-of-3

Strategy and products

Providing retail and institutional customers in Africa with:

  • Risk, savings and investment products
  • Retirement fund administration
  • Health insurance products and administration
  • Short-term insurance
p71-1-of-3

Focus areas

  • Integration of newly acquired Cannon Assurance (Kenya)
  • Acquisitions complementary to growth initiatives
  • Top-line growth in all lines of business
  • Implement mass-market initiatives
  • Product innovation and diversification
  • Support centre efficiencies

Hover over the countries for more information.

slide

Swaziland

Life and health business

GDP (purchasing
power parity):

$6.259 billion (2013 est.)

Population:

1 419 623

Source: The World Factbook CIA 2013

Namibia

Life and health business

GDP (purchasing
power parity):

$12.3 billion (2013 est.)

Population:

2 198 406

Source: The World Factbook CIA 2013

Botswana

Life and health business

GDP (purchasing
power parity):

$34 billion (2013 est.)

Population:

2 155 784

Source: The World Factbook CIA 2013

Mozambique

Health business

GDP (purchasing
power parity):

$28.15 billion (2013 est.)

Population:

24 692 144

Source: The World Factbook CIA 2013

Zambia

Life and health business

GDP (purchasing
power parity):

$25.47 billion (2013 est.)

Population:

14 638 505

Source: The World Factbook CIA 2013

Malawi

Health business

GDP (purchasing
power parity):

$15.02 billion (2013 est.)

Population:

17 377 468

Source: The World Factbook CIA 2013

Tanzania

Health business and short-term insurance

GDP (purchasing
power parity):

$79.29 billion (2013 est.)

Population:

49 639 138

Source: The World Factbook CIA 2013

Kenya

Life business and short-term insurance

GDP (purchasing
power parity):

$79.9 billion (2013 est.)

Population:

45 010 056

Source: The World Factbook CIA 2013

Nigeria

Life business

GDP (purchasing
power parity):

$478.5 billion (2013 est.)

Population:

177 155 754

Source: The World Factbook CIA 2013

Ghana

Life and health business and Pension fund administration

GDP (purchasing
power parity):

$90.41 billion (2013 est.)

Population:

25 758 108

Source: The World Factbook CIA 2013

Mauritius

Health business

GDP (purchasing
power parity):

$20.95 billion (2013 est.)

Population:

1 331 155 (July 2014 est.)

Source: The World Factbook CIA 2013

Lesotho

Life and health business

GDP (purchasing
power parity):

$4.265 billion (2013 est.)

Population:

1 942 008

Source: The World Factbook CIA 2013

Rationale for African expansion

  • Diversify earnings
  • Higher GDP growth than South Africa
  • Low penetration of insurance
  • Growth opportunities

Distribution channels

  • Brokers
  • Employed agents
  • Unions
  • Co-operatives
  • Mobile operators
  • Internal employees