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In 2024, the African insurance market reported a premium volume of 73.6 billion USD (1), an amount distributed across five major regions of the continent.
Southern Africa accounts for the largest share with 53.2 billion USD in premiums, representing 72.3% of the continent’s premiums. This region is followed by North Africa and East Africa, which hold 13.6% and 7.3% of the market share, respectively.
African insurance by region in 2024
In USD
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| Regions | Total premiums in 2024 | 2024 shares | Penetration rate | Density |
| Southern Africa | 53 243 500 000 | 72.3% | 8.6% | 265.7 |
| North Africa | 9 990 502 000 | 13.6% | 1.1% | 45.6 |
| East Africa | 5 358 530 000 | 7.3% | 1.3% | 16.4 |
| West Africa | 3 911 352 000 | 5.3% | 0.7% | 9.4 |
| Central Africa | 1 108 673 000 | 1.5% | 0.7% | 6.7 |
| Total Africa | 73 612 557 000 | 100% | 2.8% | 55.4 |
| World | 7 186 174 000 000 | - | 6.5% | 887 |
Read also | Top 10 African insurance markets
Written premiums by life and non-life insurance in major African countries in 2024
In thousands USD
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| Country | Non-life | Life | Total |
| South Africa | 11 992 000 | 38 400 000 | 50 392 000 |
| Morocco | 3 147 279 | 2 638 198 | 5 785 477 |
| Kenya | 1 565 480 | 1 466 479 | 3 031 959 |
| Egypt | 1 147 992 | 564 351 | 1 712 343 |
| Algeria | 1 104 334 | 154 716 | 1 259 050 |
| Tunisia | 835 850 | 359 272 | 1 195 122 |
| Namibia | 293 315 | 767 952 | 1 061 267 |
| Nigeria | 710 450 | 305 435 | 1 015 885 |
| Côte d'Ivoire | 574 514 | 424 087 | 998 601 |
| Mauritius | 404 560 | 258 730 | 663 290 |
| Tanzania | 445 788 | 126 687 | 572 475 |
| Angola | 487 400 | 33 826 | 521 226 |
| Ghana | 343 384 | 154 734 | 498 118 |
| Ethiopia | 455 136 | 39 652 | 494 788 |
| Senegal | 291 348 | 180 665 | 472 013 |
| Cameroon | 302 580 | 154 698 | 457 278 |
| Uganda | 266 270 | 189 648 | 455 918 |
| DR Congo | 342 805 | 35 093 | 377 898 |
| Mozambique | 322 447 | 51 673 | 374 120 |
| Zambia | 232 146 | 112 532 | 344 678 |
| Zimbabwe | 178 433 | 122 188 | 300 621 |
| Burkina Faso | 149 027 | 115 227 | 264 254 |
| Gabon | 170 405 | 60 863 | 231 268 |
| Benin | 89 184 | 74 888 | 164 072 |
| Guinea | 125 200 | 34 400 | 159 600 |
| Togo | 79 767 | 75 327 | 155 094 |
| Malawi | 64 866 | 66 576 | 131 442 |
| Eswatini | 61 665 | 56 480 | 118 145 |
| Mali | 86 189 | 27 063 | 113 252 |
| Niger | 53 747 | 16 716 | 70 463 |
| Burundi | 29 630 | 17 410 | 47 040 |
| Seychelles | 38 200 | 3 100 | 41 300 |
| Mauritania | 36 664 | 1 846 | 38 510 |
| Chad | 29 751 | 5 667 | 35 418 |
| Djibouti | 27 000 | 900 | 27 900 |
| Eritrea | 21 575 | 2 285 | 23 860 |
| Central African Republic | 6 812 | NA | 6 812 |
| Total Africa | 26 513 193 | 47 099 364 | 73 612 557 |
NA: Not available
