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
Governor Francios Kanimba
Times Reporter