The life insurance market collects 262 million USD in gross premiums in 2013

The life insurance market has recorded a total of 262 million USD in gross premiums in 2013.

The net loss has increased to 125 million USD (+42% compared to 2012).

The amount of outstanding claims has reached for his part 2.4 million USD or 14% more than the 2.1 million USD recorded in 2012.

This is what emerges from the state of the life industry of the country published by the Insurance and Pensions Commission (IPEC).

Note that First Mutual Life, second life insurer in the country accounts for 54% (1.3 million USD) of the total outstanding claims.

The IPEC recommends companies to expedite all their payment obligations in order to restore the confidence of shareholders and exercise more caution in the business they subscribe.