The Central African Republic insurance industry: 2001-2005
The Central African Republic insurance market features
- Regulatory authority: Department of insurance, banks and financial institutions
- Premiums (2005): 3 164 718 USD
- Insurance density (2005): 0.75 USD
- Penetration rate (2005): 0.24 %
The Central African Republic insurance market structure in 2005
- Composite companies: 1
- Non life companies: 1
Identity
- Area: 622 984 Km2
- Population (2005): 4 200 000 inhabitants
- GDP (2005): 1.301 billion USD
- GDP per capita (2005): 310 USD
- GDP growth rate (2005): 4.5 %
- Inflation rate (2005): 4.57 %
- Main economic sectors: agriculture, mining (gold and diamond), forestry, brewery
Major cities
(in number of inhabitants)
- Bangui (capital): 622 771
- Bimbo: 124 176
- Berberati: 76 918
The Central African Republic insurance industry: turnover evolution (2001-2005)
in millions USD| Written premiums | 2001 | 2002 | 2003 | 2004 | 2005 | 2004/2005 growth rate |
|---|---|---|---|---|---|---|
Non life | 2.408 | 2.418 | 2.634 | 2.828 | 3.079 | +8.09% |
Life | 0.091 | 0.099 | 0.095 | 0.1 | 0.086 | |
Total | 2.499 | 2.517 | 2.729 | 2.928 | 3.165 |
The Central African Republic insurance industry: non life loss ratio (direct business)
in USD| 2004 | 2005 | |||||
|---|---|---|---|---|---|---|
| Classes of business | Earned premiums | Gross incurred losses | Loss ratio | Earned premiums | Gross incurred losses | Loss ratio |
Personnal accident and health | 141 649 | 150 711 | 106% | 168 007 | 21 440 | 13% |
Motor | 1 614 641 | 257 540 | 16% | 1 294 501 | 108 589 | 8% |
Fire and property | 762 022 | 460 769 | 60% | 531 787 | 123 357 | 23% |
GTPL | 116 122 | 63 015 | 54% | 70 888 | 2 845 | 4% |
Marine | 256 204 | -111 591 | -44% | 568 000 | -57 645 | -10% |
Miscellaneous | 69 711 | -2 096 | -3% | 120 499 | 1 463 | 1% |
Total | 2 960 349 | 818 348 | 28% | 2 753 682 | 200 049 | 7% |
The Central African Republic insurance industry: premiums split by class of business* (2004-2005)
in USD| Classes of business | 2004 | % | 2005 | % |
|---|---|---|---|---|
| Non life | ||||
Motor | 1 555 313 | 53 | 1 556 028 | 49 |
Accident & health | 141 008 | 5 | 202 652 | 6 |
Fire & property | 689 866 | 24 | 632 865 | 20 |
GTPL | 91 671 | 3 | 100 800 | 3 |
Marine | 315 749 | 11 | 466 686 | 15 |
Miscellaneous | 34 259 | 1 | 119 921 | 4 |
Non life total | 2 827 866 | 97 | 3 078 952 | 97 |
| Life | ||||
Life | 99 800 | 3 | 85 766 | 3 |
Grand total | 2 927 666 | 100% | 3 164 718 | 100% |
The Central African Republic insurance industry: non life premiums split by company and by class of business in 2005
in USD| Classes of business | AGF Centrafrique assurances | Market share | UAC | Market share |
|---|---|---|---|---|
Motor | 807 751 | 52% | 748 277 | 48% |
Accident & health | 94 308 | 47% | 108 344 | 53% |
Fire & property | 507 602 | 80% | 125 263 | 20% |
GTPL | 57 996 | 58% | 42 804 | 42% |
Marine | 190 578 | 41% | 276 108 | 59% |
Miscellaneous | 119 921 | 100% | 0 | 0% |
Total | 1 778 156 | 58% | 1 300 796 | 42% |
Exchange rate USD/XAF as at 31/12 | 2001 | 2002 | 2003 | 2004 | 2005 |
775 | 654 | 546 | 501 | 555 |
