Country Fact Sheet

Gabon insurance market

May 30, 2024

Identity

Population: 2 388 992 inhabitants
GDP: 21.07 billions USD
GDP per inhabitant: 8 820.3 USD
GDP growth rate: 2.9%
Inflation rate: 4.2%

Data as of 31/12/2022, Source : World Bank

The Gabonese insurance market: main indicators

	2022
Turnover	191.597 millions USD
Penetration rate	0.91%
Insurance Density	80.2 USD

Structure of the Gabonese insurance market

Insurance and reinsurance companies
Non life companies	6
Life companies	4
Reinsurance companies	1
Total	11
Intermediaries
General agents	8
Insurance brokers	33
Total	41

Data as of 31/12/2022, Source: Atlas Magazine & FANAF

Supervisory authority
Ministry of Economy and Finance - National Insurance Department	www.minefcovid19.ga
Professional body
Fédération gabonaise des Sociétés d’Assurances	ww.fegasagabon.wixsite.com/gabon

The Gabonese insurance market in 2022

Figures in thousands

Class of business	Turnover				2022 shares
	2022		2021
	FCFA	USD	FCFA	USD
Bodily injury and health	25 179 549	41 043	24 046 171	41 600	21.42%
Fire and other property damage	21 670 125	35 322	18 001 195	31 142	18.43%
Motor	19 065 066	31 076	19 589 668	33 890	16.22%
Marine	15 923 972	25 956	11 307 363	19 562	13.55%
General third party liability	5 790 917	9 439	5 225 518	9 040	4.93%
Other risks	1 928 705	3 144	2 446 615	4 233	1.64%
Non-life acceptances	1 154 437	1 882	-580 253	-1 004	0.98%
Total non-life	90 712 771	147 862	80 036 277	138 463	77.17%
Individual insurance	13 857 748	22 588	12 491 142	21 610	11.79%
Group insurance	12 349 003	20 129	12 299 673	21 278	10.51%
Life acceptances	624 422	1 018	440 920	763	0.53%
Total life	26 831 173	43 735	25 231 735	43 651	22.83%
Grand total	117 543 944	191 597	105 268 012	182 114	100%

Exchange rate as at 31/12/2021 : 1 FCFA = 0.00173 USD ; as at 31/12/2022 : 1 FCFA = 0.00163 USD

Read also | Gabonese insurance market: 2023 turnover

© 2025. All Rights Reserved. Groupe Atlas