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Data published by the Association of Insurance Companies of Cameroon (ASAC) indicates that the market's turnover reached 155.8 billion FCFA (254.5 million USD) as at 30 June 2024.
Premium volume was up 5.6% on the 147.5 billion FCFA (244.9 million USD) recorded a year earlier.
The market is dominated by the non-life business, which accounts for 69.5% of the total portfolio, or 108.3 billion FCFA (176.9 million USD) in written premiums.
AXA is still the leading player in the Cameroonian non-life market, with a turnover close to 14 billion FCFA (22.9 million USD). The top 5 includes Chanas, Zenithe, SAAR and Sanlam.
The life and capitalization business closed the first half of the current year with 47.5 billion FCFA (77.6 million USD) in underwritten premiums, which represents a market share of 30.5%.
The top 5 life insurance companies are Allianz Vie, Prudential Beneficial Life, Wafa, Sunu vie and Activa Vie.
Read also | Insurance companies in Cameroon
