The Senegalese insurance market

Insurance market features

• Regulatory body: Ministère de l'Économie, des Finances et du Plan - Direction des Assurances
• Senegal is a CIMA member (Conférence Interafricaine des Marchés d'Assurances) . CIMA members have a common legislation.
• Mandatory Insurance: Motor liability and marine insurance
• Mandatory cessions: 6.5% on direct premiums and 15% on reinsurance treaties
• Premiums (2002): 73 774 000 USD
• Insurance density (2002): 7.38 USD
• Insurance penetration ratio: 1.37%

Market structure in 2002

Number of insurance companies

Number of employees

Distribution networks

Identity

• Area: 193 000 Km²
• Population (2002): 10 millions
• GDP (2001): 5 387 310 592 USD
• GDP per capita (2001): 539 USD
• GNP growth rate in 2001: +5.6%
• Expected GNP growth rate in 2002: +4.8%
• Inflation in 2002: +1.5%
• Main industries : peanut processing, phosphates, and fisheries

Major towns

(in inhabitants)

• Dakar: 2 000 000
• Touba: 350 000
• Thiès: 250 000
• Ziguinchor: 200 000