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Bernice S. Ofosu-Baadu Ghana statistical Service EN/ADM/2014/Pres/21
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Insurance data Main 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
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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
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General Insurance data - non life ItemGHc Gross Premium215,643,845 Unearned Premium 15,051,534 Claims Incurred 60,075,141 Net Commission9,063,658 Investment Income9,070,497 Other Income1,303,251 Change in reserves 23,233,983 Reinsurance79,703,428 Operationg Expenses7,7023,800 Wages and Salaries19,398,842 use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda 4
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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
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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
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Thank you for your kind attention 7 use of administrative data in National Accounts 23-17 June 2014, Kigali-Rwanda
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