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Cameroon insurance industry in 2023: distribution of premiums per class of business
December 03, 2024
Figures in thousands
| Class of business | 2023 turnover (1) | 2022 turnover | 2022-2023 evolution (2) | 2023 shares | ||
|---|---|---|---|---|---|---|
| FCFA | USD | FCFA | USD | |||
| Motor | 60 655 782 | 101 902 | 57 755 958 | 94 142 | 5.02% | 22.25% |
| Bodily injury and health | 51 528 874 | 86 569 | 45 674 220 | 74 449 | 12.82% | 18.91% |
| Fire and other property damage | 28 683 268 | 48 188 | 24 011 129 | 39 138 | 19.46% | 10.52% |
| Marine | 21 145 348 | 35 524 | 21 496 618 | 35 039 | -1.63% | 7.76% |
| General third party liability | 5 978 939 | 10 045 | 6 175 440 | 10 066 | -3.18% | 2.19% |
| Credit and surety insurance | 5 010 707 | 8 418 | 4 791 330 | 7 810 | 4.58% | 1.84% |
| Others | 7 131 685 | 11 981 | 3 773 466 | 6 151 | 89.00% | 2.62% |
| Acceptances | 3 632 284 | 6 102 | 4 954 770 | 8 076 | -26.69% | 1.33% |
| Total non-life | 183 766 888 | 308 728 | 168 632 932 | 274 872 | 8.97% | 67.42% |
| Group insurance | 46 248 913 | 77 698 | 49 552 784 | 80 771 | -6.67% | 16.97% |
| Individual insurance | 42 474 895 | 71 358 | 38 013 620 | 61 962 | 11.74% | 15.58% |
| Acceptances | 61 378 | 103 | 142 292 | 232 | -56.86% | 0.02% |
| Total life | 88 785 186 | 149 159 | 87 708 696 | 142 965 | 1.23% | 32.58% |
| Grand total | 272 552 074 | 457 887 | 256 341 628 | 417 837 | 6.32% | 100.00% |
(1) Provisional figures
(2) Growth rate in FCFA
Exchange rate as at 31/12/2023 : 1 FCFA = 0.00168 USD ; as at 31/12/2022 : 1 FCFA = 0.00163 USD
Source: Association of insurance companies of Cameroon (ASAC)
Read also | Insurance companies in Cameroon
