The market is strained by its outstanding premiums

Despite the political crisis that has prevailed in the country since 2002, the Ivorian insurance market is constantly growing. The overall premium volume rose from 107 billion FCFA (144.5 million USD) in 2001 to 167 billion FCFA (367.4 million USD) in 2008. The 30 Ivorian companies, including Colina, Beneficial Life, NSIA, AXA, LMAI and Allianz Côte d'Ivoire, are faced with the recurrent problem of outstanding premiums. For some insurers, such unpaid premiums are so substantive that the cash flow of the companies got seriously affected.