Insurance penetration could reach 10% by 2020 – central bank
Rwanda’s insurance sector could emerge as a lucrative area for investors, with the central bank saying that insurance penetration rate in the country will grow robustly to 10 percent by 2020. With a ratio of gross premiums to Gross Domestic Product (GDP) of 2.3 percent in 2010, up from 1 percent in 2005, insurance penetration in Rwanda remains miserably low even though the central bank says that the sector has grown over the past years.
Governor Francios Kanimba