The insurance industry in Cameroon: 2012-2016
Insurance market features 2016
- Regulatory authority: Ministry of finance and budget Insurance department
- Life and non life premiums(2016): 299 million USD
- Insurance density (2016): 12.75 USD
- Insurance penetration rate (2016): 1.23%
Insurance market structure 2016
- Non life insurance companies : 16
- Life insurance companies: 10
- Insurance and reinsurance brokers(2): 87
- Insurance agents: 71
Profile
Area: 475 442 Km2- Population(1) (2016): 23.44 million of inhabitants
- GDP(1) (2016): 24.204 billion USD
- GDP per capita (2016): 1 033 USD
- Inflation rate (2016): 2.2%
- Main economic sectors: hydrocarbon industry (petroleum), food industry, agriculture (coffee, cocoa, cotton ...), services.
Major cities
(per number of inhabitants in 2015)
- Yaoundé (capital): 2 765 000
- Douala : 2 768 000
- Garoua : 546 060
- Bamenda : 415 251
(2) Source : APCAR - professional association of insurance and reinsurance brokers of Cameroon
The Insurance Industry in Cameroon: evolution of life and non life turnover (2012-2016)
in USD2012 | 2013 | 2014 | 2015 | 2016 | |
---|---|---|---|---|---|
Non life | 222 577 832 | 251 149 461 | 216 965 909 | 217 664 405 | 211 261 289 |
Life | 80 815 709 | 86 114 843 | 82 198 512 | 85 885 175 | 87 360 356 |
Total | 303 393 541 | 337 264 304 | 299 164 421 | 303 549 580 | 298 621 645 |
The non life Insurance Industry in Cameroon: evolution of turnover per non life insurance company (2012-2016)
in USD2012 | 2013 | 2014 | 2015 | 2016 | 2016 shares | |
---|---|---|---|---|---|---|
AXA Assurances | 22 532 093 | 25 905 881 | 25 269 501 | 32 452 270 | 32 867 791 | 15.5% |
SAAR Assurances | 29 649 709 | 38 695 302 | 34 008 882 | 29 958 984 | 30 423 877 | 14.4% |
ACTIVA Assurances | 28 401 580 | 31 605 455 | 28 670 468 | 27 773 270 | 28 461 664 | 13.5% |
Allianz Assurances Cameroun | 19 643 332 | 20 820 812 | 19 506 914 | 21 562 164 | 21 546 254 | 10.2% |
Chanas Assurances | 47 009 763 | 42 911 095 | 35 667 441 | 24 101 914 | 18 766 754 | 8.9% |
Garantie Mutuelle des Cadres | 11 146 460 | 15 497 882 | 14 330 289 | 15 061 143 | 15 027 814 | 7.1% |
Zenithe Insurance | 6 113 803 | 11 849 442 | 7 465 153 | 13 091 230 | 12 374 920 | 5.9% |
NSIA Assurances | 16 159 348 | 19 180 002 | 12 010 799 | 11 867 341 | 12 047 895 | 5.7% |
Saham Assurances Cameroun | 15 702 446 | 13 940 190 | 6 819 903 | 12 420 758 | 11 412 626 | 5.4% |
Assurances & Réassurances Africaines (AREA) | 4 425 063 | 5 370 056 | 7 030 209 | 6 817 159 | 6 390 272 | 3% |
Compagnie Professionnelle d'Assurances (CPA) | 4 317 747 | 3 986 946 | 4 118 955 | 4 691 128 | 4 711 623 | 2.2% |
Assurances Générales du Cameroun | 3 534 622 | 5 088 139 | 5 208 670 | 4 434 385 | 4 120 032 | 2% |
Pro Assur | 3 031 479 | 4 144 120 | 3 878 497 | 3 992 056 | 3 971 818 | 1.9% |
Beneficial General Insurance | 2 858 801 | 3 343 536 | 2 949 362 | 2 579 312 | 3 561 405 | 1.7% |
Cameroon Insurance (CAMINSUR) | 2 535 680 | 3 078 869 | 3 346 058 | 3 619 195 | 2 838 952 | 1.3% |
Samaritan Insurance | 5 515 906 | 5 731 734 | 6 684 808 | 3 242 096 | 2 737 592 | 1.3% |
Total | 222 577 832 | 251 149 461 | 216 965 909 | 217 664 405 | 211 261 289 | 100% |
Market shares per non life company in 2016
(1) 9 companiesThe life insurance Industry in Cameroon: evolution of turnover per life insurance company (2012-2016)
in USD2012 | 2013 | 2014 | 2015 | 2016 | 2016 shares | |
---|---|---|---|---|---|---|
Allianz Cameroun Assurances Vie | 28 545 099 | 29 085 835 | 26 425 610 | 28 679 171 | 30 022 752 | 34.4% |
Beneficial Life | 15 765 062 | 17 132 877 | 15 811 876 | 17 039 548 | 16 599 179 | 19% |
SUNU Assurances Vie (1) | 16 041 084 | 13 107 247 | 16 036 886 | 15 852 453 | 14 644 332 | 16.8% |
ACTIVA Vie | 10 620 081 | 12 610 820 | 11 808 602 | 11 815 895 | 12 418 573 | 14.2% |
SAAR Vie | 5 256 599 | 6 674 471 | 5 844 949 | 6 376 661 | 6 103 602 | 7% |
Saham Life Insurance | 4 322 298 | 7 099 359 | 5 288 309 | 5 367 137 | 5 240 323 | 6% |
NSIA Assurances Vie | - | - | 387 754 | 419 511 | 1 979 044 | 2.2% |
Pro Assur Vie | 265 486 | 404 234 | 594 526 | 334 799 | 344 137 | 0.39% |
WAFA Assurance Vie | - | - | - | - | 5 192 | 0.006% |
ACAM Vie | - | - | - | - | 3 222 | 0.004% |
Total | 80 815 709 | 86 114 843 | 82 198 512 | 85 885 175 | 87 360 356 | 100% |
Market shares per life insurance company in 2016
(2) Including Pro Assur Vie, WAFA Assurance Vie and ACAM VieThe life insurance Industry in Cameroon: evolution of turnover per class of business (2012-2016)
in USD2012 | 2013 | 2014 | 2015 | 2016 | 2016 shares | |
---|---|---|---|---|---|---|
Bodily injury and health | 56 328 810 | 62 094 354 | 51 089 417 | 50 429 998 | 50 424 320 | 16.9% |
Motor | 68 461 360 | 83 601 660 | 72 956 364 | 72 083 002 | 77 413 540 | 25.9% |
Fire and other property damage | 26 111 953 | 28 777 386 | 30 429 495 | 33 472 959 | 26 788 599 | 9% |
Marine | 48 592 700 | 50 782 367 | 36 355 582 | 37 212 759 | 30 090 343 | 10% |
Other risks(1) | 23 083 009 | 25 893 694 | 26 135 051 | 24 465 687 | 26 544 487 | 8.9% |
Total non life | 222 577 832 | 251 149 461 | 216 965 909 | 217 664 405 | 211 261 289 | 70.7% |
Life(2) | 80 815 709 | 86 114 843 | 82 198 512 | 85 885 175 | 87 360 356 | 29.3% |
Grand total | 303 393 541 | 337 264 304 | 299 164 421 | 303 549 580 | 298 621 645 | 100% |
Market shares per class of business in 2016
(1) Including third party liabiliy, other non life risks, acceptances, credit and bond(2) Including group life policies, individual life insurance and acceptances Source: Association of Cameroon’s insurance companies (ASAC)
Exchange rate FCFA/USD as at 31/12 | 2012 | 2013 | 2014 | 2015 | 2016 |
0.002019 | 0.002098 | 0.001853 | 0.001666 | 0.001608 |
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