AISL Executive Summary
Namibia obtient un score AISL ajusté de 39.6/100 (restrictif). En 2024, le marché assurantiel local représentait 1.1 milliard $ (7.9% de pénétration du PIB). Une cession obligatoire s'applique aux réassureurs étrangers (NamibRe 12,5% polices + 20% traités). Le marché applique par ailleurs un droit de premier refus au bénéfice du réassureur local.
Summary written from verified AISL data, not an opinion, a starting point for analysis.
Economy
Capital
Windhoek
Population
Not documented
GDP
$13.4 B
Currency
NAD
Insurance market
Market size
$1.1 B
Penetration
7.9%
Density / capita
Not documented
Growth (GDP proxy)
Not documented
Regulatory framework
Regulatory openness
RestrictiveCompulsory cession
Yes
NamibRe 12,5% polices + 20% traités
Active friction mechanisms
2 / 7
Reference year
2024
AISL Score
Base score
46.4
Adjusted score (friction)
39.6
Regulatory access
72/100
Methodology breakdown
AISL recommendation: WATCH / DEVELOP (V2 provisoire)
AISL Score Badge
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Similar markets
Structurally close profiles to Namibia, computed on market size, growth, sector structure, environment and founder judgment.
Market (2024)
Vie : 72%
$768.0M
Non-vie : 28%
$293.3M
Total : $1.06 Md
Total premiums
$1.1 B
Penetration
7.9%
Density / capita
Not documented
Growth
—
Number of insurers
—
International comparison
This market is +28% versus the OECD average (6.2% of GDP, 2024) and +47% versus the average across all reporting jurisdictions (5.4%, 2024).
Source: OECD, Global Insurance Market Trends 2025. These averages cover jurisdictions reporting to the OECD, not an exhaustive global sample.
Source: Atlas Magazine - African Insurance Market 2024
Macroeconomic context (2024)
GDP
$13.4 B
GDP growth
—
Population
—
Inflation
—
Currency
NAD
Source: IMF WEO DataMapper API
Regulatory mechanisms
NamibRe 12,5% polices + 20% traités
Source: GRF - Reinsurance Trade Barriers and Market Access Issues Worldwide, mai 2026
What this market requires at entry
2 active regulatory mechanisms on this market, with what each one concretely means for entering Namibia.
"What If" Simulator
Each active friction mechanism removes 3.4 points from this market's score (base score: 46.4, before regulatory friction). Uncheck a mechanism below to simulate its removal and see how many points this market would regain — using the exact AISL scoring formula.
Simulated score
39.6
2 mechanisms active (2 × 3.4 = −6.8 pts)
Active reinsurers
10 reinsurers (national + regional operating in this zone), 2021 revenue in USD millions
| Reinsurer | Scope | Revenue 2021 (M$) | Net income (M$) | Observed growth | 2022(est.) | 2023(est.) | 2024(est.) | 2025(est.) | 2026(est.) | 2027(est.) | 2028(est.) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Ghana Re - Kenya | Regional | — | — | — | — | — | — | — | — | — | — |
| WAICA Re - Zimbabwe | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re - Zimbabwe | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re | Regional | — | — | — | — | — | — | — | — | — | — |
| CICA - Re | Regional | — | — | — | — | — | — | — | — | — | — |
| Waica Re - Kenya | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re (PTA Reinsurance Co) | Regional | 213.0 | 18.1 | +2.3% | 218.0 | 223.0 | 228.0 | 233.2 | 238.6 | 244.0 | 249.6 |
| CICA-RE | Regional | 176.2 | 13.4 | +11.3% | 196.1 | 218.3 | 243.0 | 270.6 | 301.3 | 335.5 | 373.7 |
| WAICA Re | Regional | 153.3 | 19.9 | +49.5% | 229.5 | 343.3 | 513.5 | 768.1 | 1148.9 | 1719.1 | 2572.0 |
| NamibRe | National | 46.3 | 0.6 | +11.6% | 51.7 | 57.6 | 64.3 | 71.7 | 80.0 | 89.2 | 99.5 |
Source: Atlas Magazine, Reinsurance Yearbook 2023. Last real data available: fiscal year 2021 (left-hand columns). The "2028 revenue (estimated)" column, in italic gray, is a projection based solely on the growth rate observed between 2020 and 2021 (capped between -30% and +50%/year); this is not an observed figure and should be treated with caution, particularly for companies with volatile or negative net income.
AISL Summary
- AISL positioning: 40/100, "Restrictive" market.
- Insurance market: $1.1B, fiscal year 2024.
- Main entry barrier: compulsory cession (NamibRe 12,5% polices + 20% traités).
- Sits 6.8 points below the regional average (4 scored markets).
Regional comparison
Average adjusted score in Southern Africa : 46.4 (out of 4 scored markets)
Namibia is 6.8 points below the regional average