Cameroon insurance market: 2023 provisional turnover

The Association of Insurance Companies of Cameroon (ASAC) has published the market's provisional figures for the 2023 financial year.

The overall turnover for the previous year ended 31 December amounted to 272.44 billion FCFA (458.4 million USD), up by 6.28% compared to the 256.34 billion FCFA (417.2 million USD) recorded in 2022.

Non-life premiums progressed by 8.91% to 183.65 billion FCFA (309 million USD).

AXA Assurance has maintained its leading position in the non-life market, with a turnover of 23.105 billion FCFA (38.9 million USD).

The life and capitalization business closed the 2023 financial year with a 1.23% increase in underwriting to 88.79 billion FCFA (149.4 million USD).