Turnover up by 7.03% for the insurance market in 2014

According to figures released by the Senegalese Federation of Insurance Companies (FSSA), the local market achieved a turnover of 102.822 billion FCFA (190.5 million USD), an increase of 7.03% compared to 2013.

In detail, these premiums are derived from life and non life insurance that recorded respectively 76.12 billion FCFA (141.06 million USD) and 26.7 billion FCFA (49.4 million USD) in 2014, increasing by 6% and 9% respectively over the previous year.

As a reminder, at the end of 2014, the Senegalese insurance market consisted of 23 companies, including 16 operating in the non life class of business and 7 in life insurance.