Obstacles to insurance development abound

In the Financial Afrik newspaper columns, Alioune Ould Mohamed, commercial manager of Assurances Générales de Mauritanie (AGM), has made an assessment of the insurance sector in Mauritania. According to him, the market is neglected due to the absence of the state control and regulation. In this confused environment, partnerships are difficult to establish and coinsurance hard to implement.

A. Ould Mohamed also points to significant cessions overseas due to the lack of a national reinsurance company. As a reminder, in 2009, Mohamed Abdallah Ould Hebly, currently commercial manager of "WAFA Assurances" recommended the establishment of such an initiative. The project consisted of creating a local reinsurer that would benefit from the compulsory cession by local insurers of a quota share of their risks.

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