Thumbnail

Market Entry - Health & Medical Insurance Industry in Angola: Analysis of Growth, Trends and Progress (2020 - 2025)

Looking to buy the report?

About the Market

The health insurance industry is one of the cardinal components of the global economy by virtue of the amount of revenue it generates, the extent of the global investment, and most prominently the indispensable socio-economic role it plays in securing personal and business risk in the event of unforeseen problems. The key issues in the insurance industry include rising competition, generally soft pricing conditions and tight profit margins. Moreover, the economic turbulence in 2008 has affected employer and corporate health insurance business in the developed countries to some extent, due to cost cutting and lay-off of employees and slowdown of new recruitments. However, at individual levels, the market has not shown any significant slowdown. The health insurance market in developed nations is consolidated by few major players who cover more than 80% of private and public (medicare and medicaid) managed insurance. The cardinal challenges for new capital entrants in the health insurance market include immense competition and rising customer expectations. Success here would be enhanced by expanding digital capabilities, making insurance products easier to understand, compare and purchase. The health insurance market especially in the EU5 countries (U.K., Germany, France, Italy, and Spain) is quite stable owing to a significant contribution from the government. The growth perspective for private players is limited due to universal health coverage plans in these countries. Furthermore, in developing regions the health insurance market for private players continue to challenge as economic recovery throughout the region is overshadowed by low business investment rates and slower industry growth. In some developing nations, the growth prospects remain high due to increasing GDP, rise in disposable income, and growing trend toward health security. Furthermore, the growth of the middle class and high net worth population in these regions presents an immense opportunity for international players to exploit the emerging market. Major players in the market include United Health Group Inc., Allianz SE, AIA Insurance Group, Express Scripts Holding Company, Zurich Insurance Group Ltd., AXA, Aviva Plc, Aetna Inc., International Medical Group, Apollo Munich Health Insurance and Cigna Corporation.

About the Geography

Angola is in the Southwest part of Africa. It is a presidential republic rich in hydrocarbon and mineral resources. Angola is the fourth largest recipient of foreign direct investment in Africa with a high growth potential in construction and tourism sectors. It is one of the fastest growing economies and has a large population, making it the third largest market in sub-Saharan Africa.
It has good trade relations with China, France, the Netherlands, and the USA, which have helped the country to diversify its economy outside the oil & gas sector. The government is also trying to improve the business climate and is favorable to foreign direct investment by giving companies the right to incentives as local businesses. However, the lack of infrastructure, skilled workers, a poor financial system, weak judicial system, heavy bureaucracy, and corruption discourage foreign companies from investing in the country. Also, the government laws promote requiring investors to partner with local businesses deter investors.

                                                     

Component Name

Unit

GDP (USD billion)

103

GDP Annual Growth Rate

4.9

GDP Per Capita

4153

Unemployment Rate

26

Inflation Rate

39.44

Consumer Price Index (CPI)

153

Interest Rate

16

Loans to Private Sector (USD billion)

21.972

Balance of Trade (USD billion)

3.002

Business Confidence

-34

Ease of Doing Business

181

Competitiveness Rank

140

Corruption Rank

163

Bank Lending Rate (Consumers)

15.97

Corporate Tax Rate

30

Sales Tax Rate

10

 

Bahrain is the smallest Arab country comprising of 30 islands. It has the lowest tax regulation in the Middle East and is not constrained by restrictions of free trade zone. It allows companies to own 100% of the business in almost all economic activities.

Bahrain has an excellent logistical infrastructure with great access to information and communication technology. Various measures by the government such as the formation of Supreme Council for Privatisation in 2001, creation of the Bahrain Mumtalakat Holding Company (BMHC) in 2006, the Bahrain Investors Centre (BIC), and the Commercial Companies Act of 2015 have been implemented to ease the burden on foreign investors. The BMHC (2006) manages all public investments and the BIC provides all business, licensing and registration services. Even with such a sound regulatory structure, FDI has been declining in the country due to political instability, the slow pace of privatization and rigid labor policy reserving a quota for local population at the workplace.

Considering the above challenges, Bahrain is still a great place to invest as it provides access to neighboring markets. Also, it has a largely English-speaking skilled population and the country has a tradition of cultural openness to trade. The quality of life, tax benefits, and low operating costs shall benefit new investors.

 

Component Name

Unit

GDP (USD billion)

32.22

GDP Annual Growth Rate

2.5

GDP Per Capita

22384

Unemployment Rate

3.7

Inflation Rate

2.6

Consumer Price Index (CPI)

127

Interest Rate

0.75

Loans to Private Sector (USD billion)

11.014

Balance of Trade (USD billion)

4.012

Ease of Doing Business

65

Competitiveness Rank

48

Corruption Rank

50

Consumer Spending (USD billion)

12.661

Bank Lending Rate (Consumers)

5.5

Corporate Tax Rate

0

Sales Tax Rate

0

            

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Health & Medical Insurance Industry (USD millions)

                4.1 By Product

                4.2 By Providers

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

Looking to buy the report?

Need a report that reflects how COVID-19 has impacted this market and its growth?

Looking to customize report?

Email

Message

By submitting, you confirm that you agree to our privacy policy