New legislation and consultation around microinsurance

After two years of political debate, the Democratic Republic of Congo (DRC) is ready to adopt a new law governing insurance activities.

The market will be liberalized while the national insurance company Sonas is given a one-year period to cope with the new environment. During this period, an insurance supervisory institution will be established, a change that applies solely to traditional insurance for the time being.

Talks over the topic of microinsurance have also been initiated, highlighting the potential of this form of coverage in DRC.

The idea is benefit from the experience of local microfinance institutions in order to develop insurance products targeting low-income populations.