Benin insurance market
Identity
| Population: 11 801 151 inhabitants |  |
| GDP: 14.392 billion USD | |
| GDP per inhabitant: 1 220 USD | |
| GDP growth rate 6,9% | |
| Inflation rate: -0,7% |
Data as of 31/12/2019, Source: Word Bank
Benin insurance market: main indicators
| 2019 | |
| Turnover | 104.849 million USD |
| Penetration rate | 0.73 % |
| Insurance density | 9 USD |
Benin: insurance market structure
Non-life | 7 |
Life | 6 |
Specialized | 1 |
| Total | 14 |
Brokers | 36 |
General agents | 190 |
Total | 226 |
Data as of 31/12/2020, Source: Ministry of Economy and Finance General Department of the Economy
Ministry of Economy and Finance General Department of the Economy / Insurance Department | www.dgae.finances.bj/direction-des-assurances-da |
Professional body Association des sociétés d'assurance | www.asabenin.org |
Benin insurance market: premium evolution
Figures in million USD| Activities | 2015 | 2016 | 2017 | 2018 | 2019 |
Non life | 54.455 | 52.734 | 59.705 | 61.54 | 62.35 |
Life | 23.538 | 28.269 | 34.179 | 35.352 | 42.499 |
| Total | 77.993 | 81.003 | 93.884 | 96.892 | 104.849 |
Source: Ministry of Economy and Finance General - Department of the Economy
Exchange rate as at 31/12/2015 : 1 FCFA = 0,00167 USD ; at 31/12/2016 : 1 FCFA = 0,00161 USD ; at 31/12/2017 : 1 FCFA = 0,00183 USD ; at 31/12/2018 : 1 FCFA = 0,00174 USD ; at 31/12/2019 1 FCFA = 0,00171 USD
Read also | Insurance companies in Benin
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