Motor insurance is in deficit

According to the Minister of Industry, Trade and Crafts, motor insurance in Mauritania affects the profitability of the market. With a market share of nearly 40%, the class of business totaled 900 million MRO (3.14 million USD) of claims in 2014.

Mrs. Naha Mint Mouknass, Minister of Industry, Trade and Crafts, admitted that the other classes of business are so far unable to compensate for the loss caused by the motor class of business. The low insurance penetration rate but especially significant cessions from foreign reinsurers have resulted in additional costs and a 30% drop in the reinsurers' revenues.

As a reminder , in 2014, the Mauritanian insurance sector generated a turnover of 8 million USD. The market has 12 private and semi-private insurance companies and employs over 600 people.

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