Five African countries account for 85% of the continent’s total premiums

The barometer of African insurance has been published on the sidelines of the 44th general assembly of the African Insurance Organization(AIO) held from May 21 to 24, 2017 in Uganda.
assurance AfriqueJohannesburg, South Africa , @Zakysant, CC BY-SA 3.0

According to this study, South Africa was ranking at the top of African market in 2015. The country accounts for 72% of the underwritings reported over the continent with an overall premium worth 46 billion USD in 2015.

Morocco, Egypt, Kenya and Nigeria complete the standings. These five countries together account for 85% of the continent’s overall premiums.

Insurance penetration rate in Africa is estimated at 2.9%, a figure well below global average.

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