Top 100 insurance companies in Africa

Figures in millions
2022 rankCompaniesClass of businessCountry2022 turnover2021 turnover2021-2022 evolution (1)
In local currencyIn USDIn local currencyIn USD
1SanlamVSouth Africa112 1686 600107 5716 7414.27%
2Old Mutual LifeVSouth Africa54 3133 19655 9533 507-2.93%
3Liberty GroupVSouth Africa48 4852 85343 8012 74510.69%
4SantamNVSouth Africa34 0672 00531 5021 9748.14%
5MML Group Limited (2)VSouth Africa27 4291 69727 3281 9080.37%
6Wafa AssuranceCMorocco10 4259839 08997314.70%
7Guardrisk Insurance (2)NVSouth Africa13 25182012 0918449.59%
8RMACMorocco8 0767617 6818225.15%
9The Hollard Insurance (2)NVSouth Africa12 04874511 3127906.51%
10Mutuelle Taamine ChaabiVMorocco7 3456926 30867516.43%
11Old Mutual InsureNVSouth Africa11 65768611 0316915.67%
12OUTsurance Insurance (2)NVSouth Africa10 2536349 4076578.99%
13Guardrisk Life (2)VSouth Africa9 2175708 05856314.38%
14Axa Assurance MoroccoCMorocco6 0285685 5675968.27%
15Sanlam AssuranceCMorocco5 9555615 6216015.93%
16Misr Insurance (2)NVEgypt10 3885529 5916118.31%
17AtlantaSanadCMorocco5 4045095 4015780.05%
18Misr Life Insurance Company (2)VEgypt9 1004837 65348718.91%
19Hollard Life Assurance (2)VSouth Africa7 0134346 8554792.30%
20Centriq Insurance CompanyNVSouth Africa6 4293783 77423770.34%
21AVBOB Mutual Assurance (2)VSouth Africa5 7393555 19536310.48%
22Bryte Insurance CompanyNVSouth Africa5 9343495 38833810.14%
23Centriq Life InsuranceVSouth Africa5 8403444 17526239.87%
24Allianz Life Egypt (2)VEgypt6 1193255 04332121.34%
25Discovery Insure Limited (2)NVSouth Africa5 1953214 38530618.47%
26ABSA LifeVSouth Africa5 0142954 6242908.42%
27Assupol Holdings (2)VSouth Africa4 7142924 3593048.14%
28Escap (3)NVSouth Africa4 1252844 507302-8.49%
29Metlife Egypt (2)VEgypt4 9932654 08526022.21%
30Mutual & Federal Risk FinancingNVSouth Africa4 1882463 63722815.16%
31Botswana Life Insurance VBotswana3 0932393 139265-1.46%
32Britam LifeVKenya28 38522825 8942279.62%
33Sasria (3)NVSouth Africa3 1522172 78618713.16%
34MCMACMorocco2 2702142 0672219.83%
35Moroccoaine VieVMorocco2 2692142 339250-3.01%
36SAANVAlgeria29 16821228 8002061.28%
37AXA Life Egypt (2)VEgypt3 9662113 30821119.89%
38Leadway AssuranceCNigeria92 53020670 62417231.02%
39ABSA Insurance NVSouth Africa3 4122013 2342035.50%
40Lombard Insurance Company (2)NVSouth Africa3 2332002 64118422.39%
41AIICO InsuranceCNigeria88 32319771 64617423.28%
42CAATNVAlgeria26 71619425 4041825.17%
43Standard InsuranceNVSouth Africa3 2581923 0281907.57%
44Miway InsuranceNVSouth Africa3 2511913 1711992.52%
45Auto and General Insurance (2)NVSouth Africa3 0681903 0272111.35%
46ENSACAngola94 42718897 769174-3.42%
47Momentum Insure Company (2)NVSouth Africa2 8491762 7911952.06%
48ICEA Lion LifeVKenya20 70016720 0001763.50%
49Custodian and Allied InsuranceCNigeria74 03316566 22816111.78%
50AXA Mansard InsuranceCNigeria68 98015460 19814614.59%
51JubileeVKenya17 84514413 95512327.87%
52Nedgroup Life AssuranceVSouth Africa2 4151422 3831491.36%
53Allianz Assurance MoroccoCMorocco1 4861401 4271534.16%
54CASH AssurancesNVAlgeria18 79613616 09711516.77%
55SWAN LifeVMauritius5 6821265 14411510.46%
56Ethiopian Insurance Coporation (2)CEthiopia6 5001246 0581387.30%
57STARCTunisia3861233681284.92%
58MAMDANVMorocco1 2781201 1721259.04%
59CAARNVAlgeria16 49612016 2571171.47%
60Old Mutual GeneralNVKenya14 85912013 18311612.71%
61CATNVMorocco1 2641191 1771267.35%
62APANVKenya14 65511810 6279337.90%
63Clientele Life (2)VSouth Africa1 8681161 8001263.78%
64Budget Insurance Company (RF) (2)NVSouth Africa1 8651151 7951253.94%
65Compass Insurance CompanyNVSouth Africa1 9351141 8011137.39%
66GANVKenya13 92011211 0229726.29%
67CIC GeneralNVKenya13 86011211 42210021.35%
68GIG Egypt (2)NVEgypt2 0031061 4639336.87%
69SUNU VIEVCôte d'Ivoire63 95410460 6841055.39%
70Orient Takaful Insurance Company (2)NVEgypt1 866991 2848245.40%
71Allianz Insurance Egypt (2)NVEgypt1 848981 2377949.36%
72SANLAMNVCôte d'Ivoire59 8469856 660985.62%
73CNMANVAlgeria13 2859612 643915.07%
741 Life (2)VSouth Africa1 515941 4981051.10%
75Infiniti Insurance (3)NVSouth Africa1 332921 283863.79%
76Britam GeneralNVKenya10 851879 882879.80%
77SWANNVMauritius3 848853 2467218.54%
78MATUNVMorocco863817147620.81%
79COMARCTunisia25380233818.32%
80Mutual Benefits AssuranceCNigeria33 7867529 2997115.31%
81ASTREECTunisia23675218768.06%
82GATCTunisia235752027016.07%
83N.E.M. InsuranceNVNigeria33 3697427 8756819.71%
84Allianz Global Corporate and SpecialtyNVSouth Africa1 260741 151729.51%
85Jubilee HealthNVKenya9 002729 34282-3.64%
86MaghrebiaNVTunisia226721876520.73%
87Bupa Egypt (2)NVEgypt1 346711 1277219.46%
88KenindiaVKenya8 8797111 12798-20.20%
89CIC LifeVKenya8 801716 9976125.78%
90Mauritius Union AssuranceNVMauritius3 174702 5865822.76%
91Suez Canal Insurance (2)NVEgypt1 323701 1147118.73%
92Enterprise Life AssuranceVGhana722706099918.63%
93Nedgroup InsuranceNVSouth Africa1 143671 111702.93%
94Assurances BIATCTunisia206661715920.35%
95CIARNVAlgeria8 857648 652622.37%
96Sanlam LifeVKenya7 805638 52475-8.44%
97MadisonNVKenya7 750625 7855133.97%
98GIG Life Egypt (2)VEgypt1 161629235925.79%
99Hollard Specialist Insurance (2)NVSouth Africa997628636015.48%
100SICOM LifeVMauritius2 747612 4175413.65%

(1) Evolution in local currency
(2) End of financial year 30 June
(3)End of financial year 31March
L= Life company
NL= Non-life company
C= Composite company

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