Ivorian insurance market in 2019

The Côte d'Ivoire Association of Insurance Companies (ASACI) published the market results for the year 2019. The Ivorian insurers generated a turnover of 390.69 billion FCFA (666.99 million USD), an 8.6% increase compared to the 359.74 billion FCFA (627.28 million USD) recorded in 2018.

Non-life premiums rose by 8.29% to be set at 222.41 billion FCFA (379.7 million USD), that is 56.93% of the market share. The non-life activity is dominated by the motor activity followed by the personal accident and health classes of business which represent respectively 18.64% and 18.28% of the total turnover.

With a 43.07% market share, life insurance totalled 168.28 billion FCFA (287.29 million USD) in premiums, thus increasing by 9.02% compared to late 2018. With a turnover of 6.77 billion FCFA (96.92 million USD).

SAHAM Assurance takes the lead on the companies’ ranking. SUNU Vie and NSIA Vie stand in the second and third positions with respectively 50.175 billion FCFA (85.66 million USD) and 30.135 billion FCFA (51.45 million USD) of written premiums.