Gabonese insurance market, a 52.99% premiums' growth in the first half of 2019

During the first half of 2019, the Gabonese insurance market recorded a 52.99% increase in its turnover at 46.89 billion FCFA (81.5 million USD).

This performance is accounted for by the strong growth of the non-life premiums which amounted to 42.33 billion FCFA (73.6 million USD), an increase of 61.12% compared to the first half of 2018. The fire, motor and health-assistance classes of business also grew by 55.80%, 26.14% and 84.38% respectively.

However, life and capitalization insurance, whose market share did not exceed 10% reported a 3.8% decline in its premiums.

The total incurred paid losses decreased by 2.43% at 21.68 billion FCFA (37.7 million FCFA) against 22.22 billion FCFA (38.6 million USD) in the same period of 2018.