Burkinabe insurance market: 15% turnover increase in 2020

The Burkinabe insurance market recorded a turnover of 108 billion FCFA (202 million USD) in 2020 compared to 94 billion FCFA (161 million USD) in 2019, that is a 15% increase.

According to Abdoulaye Touré, former President of the Professional Association of Insurance Companies, the Q1 2021 premiums were estimated at 36.13 billion FCFA (65 million USD), thus growing by 18% compared to the same period of 2020.

Burkina Faso holds 17 insurance companies (7 life entities, 8 non-life, 1 microinsurance company and 1 reinsurer) and 170 intermediaries divided between 124 general agents and 46 brokers.