Bernice S. Ofosu-BaaduGhana statistical Service

EN/ADM/2014/Pres/21

Insurance dataMain source data is supplied by the National

Insurance Commission (NIC) from the consolidated quarterly financial a on both General insurance (Non-life), and Life.

use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda 2

Non-life insurance Though is an activity similar to life

insurance, Non-life covers all other risks such as fire, marine, motor, accident, sickness, fire, burglary, etc. A premium is paid to the insurance corporation and a claim is paid to the policyholder only if the event insured against occurs.

There is no uncertainty regarding the payments, as the maximum amount to be paid is specified in the policy.

use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda 3

General Insurance data - non life

Item GHc

Gross Premium 215,643,845

Unearned Premium 15,051,534

Claims Incurred 60,075,141

Net Commission 9,063,658

Investment Income 9,070,497

Other Income 1,303,251

Change in reserves 23,233,983

Reinsurance 79,703,428

Operationg Expenses 7,7023,800

Wages and Salaries 19,398,842use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda 4

General Insurance data - non life

Average Number of Employees 794

Number Of Policyholders

Fire, Burglary and Property 5,529

Marine 959

Motor 86,259

Accident 3,745

Others 10,136

use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda 5

Estimation using the Expectation Approach

GENERAL INSURANCE (NON-LIFE), GHc Amount, GHc + Gross Premium earned 215,643,845.00 + Unearned premium 150,515.34 = Total premium earned 215,794,360.34 + Investment Income 9,070,497.00 + Other income 1,303,251.00 + Net commission 9,063,658.00 = Total premium settlement 235,231,766.34 - Claims Incurred 60,075,141.00 + Change in reserves 23,233,983.00 = GROSS OUTPUT 198,390,608.34 - Reinsurance 79,703,428.00 - Operating expenses 77,023,800.00 VALUE ADDED 18,128,366.66

use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda 6

Thank you for your kind attention

7use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda