Towards the consolidation of the insurance sector in Gabon
From 1 to 3 March 2017, the national insurance department (DNA) organized the first meeting for the regulation of the insurance sector (Aresa). This meeting made it possible to formulate a policy of reforms whose objectives is to improve the Gabonese insurance market.
Several resolutions have been adopted to this effect. This involves suspending the granting of new licenses to brokers and insurers, setting up a Chamber of insurance companies, unifying motor pricing and reducing deadlines of claims payment, which may in some cases take several years.
These initiatives should, according to Gabonese professionals, trigger a wave of consolidation in the market held at the end of 2015 at 67% by three insurers, namely, Ogar, Saham and ASSINCO.
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