Mali’s growing insurance market

The Malian insurance market has witnessed a sustainable growth in recent years. In 2016, local insurers generated 41.2 billion FCFA (66.25 million USD) in premiums compared to 34.8 billion FCFA (57.98 million USD) reported in 2015, up by 18.4% in local currency. The market’s turnover has more than doubled in eight years’ time. It amounted to 20.4 billion FCFA (44.88 million USD) in 2008.

Mali counts 11 insurance companies, eight of which are non life (Assurances Bleues CNAR, Assurances LAFIA, Compagnie d’Assurance et de Réassurance SABU Nyuman, Allianz Mali Assurances, Saham Assurance, Nouvelle Alliance d’Assurances, NSIA Assurances and SUNU Assurances IARD Mali) while three other companies deal with the life class of business (SONAVIE, NSIA Vie Mali and Saham Assurance Vie Mali).