The Senegalese insurance market
Identity
| Population: 16 744 000 inhabitants |  |
| GDP: 24.911 billion USD | |
| GDP per inhabitant: 1 488 USD | |
| GDP growth rate: 0.87% | |
| Inflation rate: 2.55% |
Data as of 31/12/2020, Source: World Bank
The Senegalese insurance market: main indicators
| 2020 | |
| Turnover | 378.114 million USD |
| Penetration rate | 1.52% |
| Insurance density | 22.5 USD |
Structure of the Senegalese insurance market
Non-life | 19 |
Life | 10 |
Reinsurance companies | 1 |
| Total | 30 |
| Intermediaries | |
Insurance Brokers | 82 |
General Agents | 10 |
| Total | 92 |
Source: Direction des assurances
Ministry of Economy, Finance and Planning, Insurance Department | www.dna.finances.gouv.sn |
Senegal’s Insurance Association (AAS) | - |
The Senegalese insurance market: premium evolution
Figures in million USD| Activities | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
Non-life | 143.119 | 150.535 | 187.941 | 195.402 | 211.356 | 244.409 |
Life | 56.613 | 73.255 | 105.042 | 106.836 | 118.503 | 133.705 |
| Total | 199.732 | 223.79 | 292.983 | 302.238 | 329.859 | 378.114 |
Sources: SIKA Finance & Federation of African National Insurance Companies (FANAF)
Exchange rate as at 31/12/2015 : 1 FCFA= 0.00167 USD ; at 31/12/2016 : 1 FCFA = 0,00161 USD ; at 31/12/2017 : 1 FCFA = 0.00183 USD; at 31/12/2018 : 1 FCFA = 0.00174 USD ; at 31/12/2019 : 1 FCFA = 0,00171 USD ; at 31/12/2020 : 1 FCFA = 0,00187 USD
