Insurance market in Africa: Ranking 2018 of countries by turnover

The African insurance market continues to grow. The total premiums' volume reported by all countries increased by almost 5% in 2018 at 68.383 billion USD against 65.165 billion USD in 2017.

AfriqueAccording to the 2018 data published by Sigma, the African market share remained stable at 1.31% of the global premiums. The top 3 countries were unchanged:

  • South Africa was by far the leading country with 48.269 billion USD in premiums, that is 70.59% of whole continent's premium income.
  • Morocco ranked second with 4.579 billion USD in premiums and a market share of 6.7%.
  • Kenya reported a turnover worth 2.134 billion USD and a market share of 3.12%.

Insurance market in Africa: Top of African countries by 2018 turnover

RankCountryPremiums2017/2018 evolution2018 market shares
20182017 20182017
1919South Africa48269457705.46%70.59%
5150Morocco4579399714.56%6.70%
5958Kenya213420076.33%3.12%
6362Egypt15791618-2.41%2.31%
7179Nigeria122011624.99%1.78%
7369Algeria11891223-2.78%1.74%
7975Namibia10099605.10%1.48%
8383Tunisia8708561.64%1.27%
8682Zimbabwe73564214.49%1.07%
Total 61584582355.75%90.06%
Rest of Africa67996930-1.89%9.94%
Africa68383651654.94%100.00%
World519322549575074.75% 
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