The Cameroonian insurance market

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Photo credit: US Gov / CIA World Factbook

Insurance market features

  • Regulatory authority: Ministry of Finance and Budget Insurance Division
  • Written premiums (2003): 145 million USD
  • Insurance density (2003): 9.06 USD
  • Penetration rate (2003): 1.18%

Identity

  • Area: 475 440 Km2
  • Population (2003): 16 100 000 inhabitants
  • GDP (2003): 12.4 billion USD
  • GDP per capita (2003): 770 USD
  • GDP growth rate (2003): 4.2 %
  • Inflation rate (2003): 1.2 %
  • Main economic sectors: hydrocarbon industry (petroleum), food industry, agriculture (coffee, cacao, cotton…), services

Major towns

(in number of inhabitants)
  • Douala: 2 000 000
  • Yaoundé (capital): 1 200 000
  • Nkongsamba: 800 000
  • Garoua: 400 000
 

Turnover evolution 2000-2003

in USD
Years
2000200120022003
Non Life premiums
63 848 82778 319 871104 832 780123 844 736
Life premiums
15 152 08714 995 51718 695 98022 043 031
Total
79 000 914 93 315 388 123 528 760 145 887 767

Non Life premium split by company 2000-2003

in USD
Companies2000200120022003
CHANAS
10 188 31513 455 23422 536 93425 715 835
AXA
14 041 97813 845 87319 385 05119 526 198
SAAR
8 597 0719 959 94913 842 91317 504 717
SNAC
10 578 84713 276 62914 555 63915 225 615
ACTIVA
5 605 7397 080 00610 858 83212 055 608
PRO ASSUR
-1 642 0753 494 5367 913 220
CITOYENNE
6 357 3544 955 2746 186 3917 373 162
SATELLITE
2 929 6853 603 4724 548 3035 174 369
GMA
2 066 6195 091 1933 147 3025 704 427
CAMINSUR
1 892 7692 508 9102 777 9562 869 588
CPA
1 590 4501 651 1182 286 6792 799 322
BENEFICIAL
-1 250 138920 4201 150 115
AGC
--291 824832 560
Total non life
63 848 827 78 319 871 104 832 780 123 844 736

Non Life premium split by class of business 2000-2003

in USD
Classes of business2000200120022003
Health & personal accident
13 536 04817 668 31821 331 08426 893 074
Motor
25 021 58228 827 77832 872 52840 272 165
Fire
8 186 3228 757 87611 635 07713 026 907
General third party liability
2 353 4032 403 4423 787 3273 431 377
Marine
10 757 94115 521 27828 308 11424 076 503
Miscellaneous
4 018 7545 115 7526 809 73415 670 502
Reinsurance acceptances
-25 22325 42788 916474 208
Total non life
63 848 827 78 319 871 104 832 780 123 844 736

Non Life premium evolution 2000-2003

in millions XAF

Life premium split by company 2000-2003

in USD
Companies2000200120022003
SNAC VIE
5 119 2595 490 3637 514 7338 775 945
BENEFICIAL
6 230 2246 312 2397 053 3577 663 452
AXA VIE
2 479 0301 852 7492 496 1763 026 809
ALL LIFE
785 037743 8101 131 9731 279 901
CITOYENNE
60 50348 89039 540671 350
ASSURAMA
245 567390 224331 583511 836
SATELLITE
232 467157 242128 618113 738
Total
15 152 087 14 995 517 18 695 980 22 043 031

Life premium evolution 2000-2003

in millions XAF

Loss ratios by class of business 2003

in USD
Classes of businessEarned premiumsClaimsLoss ratio
Health & personal accident
22 555 58912 531 58855.6%
Motor
39 053 74122 623 26257.9%
Fire
12 987 7583 857 68629.7%
General third party liability
3 715 189-32 414-0.9%
Marine
22 055 3301 466 5886.6%
Miscellaneous
14 711 4013 459 00123.5%
Reinsurance acceptances
474 2081 096 465231.2%
Total
115 553 216 45 002 176 38.9%
Source: Association des Sociétés d’Assurances du Cameroun - ASAC
Exchange rate USD/XAF as at 31/12
2000
2001
2002
2003
708.039
743.922
625.497
576.766
0
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Mon, 13/05/2013 - 15:44
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