The insurance industry in Cameroon: brokerage accounts for 50% of total market turnover

The insurance market in Cameroon accounts for 25 insurance companies. According to statistics made by the FANAF, the companies share a turnover of over 120 billion FCFA (222 million USD).

The top five companies, Chanas, Axa, Saar, AGF and Activa, account nearly for 72.5% of premium volumes. The good performance of the Cameroonian economy has allowed an improvement of the insurance market, thus attracting new actors, including intermediaries.

Today, 51 brokers, 97 general agents and 28 representatives are licensed. Their brokerage operations account for 50% of the turnover of the insurance industry.