Premiums 2018 of the Cameroonian insurance market

The total premiums' volume achieved by the Cameroonian insurance market reached 205 billion FCFA (356 million USD) in 2018 compared to 161 billion FCFA (338 million USD) in 2013, that is an increase of 27.4% over five years. However, the insurance penetration rate remains low, of less than 2%.

These figures were revealed by Théophile Gérard Moulong, General Manager of Saham Assurances, during he 2nd edition of "the insurance day", which is being held from 29 May to 1 June in Douala.

This low penetration rate goes hand in hand with a very high level of non-insurance, even for compulsory covers sucg as motor third party liability . According to the ASAC President, less than 40% of vehicles are insured in Cameroon

The company's overall investments amounted to 370.8 billion FCFA (645 million USD) in 2018, representing 2.1% of GDP.