Ivorian insurance market: H1 2022 turnover

Ivorian insurance marketThe Association of Insurance Companies of Côte d'Ivoire (ASACI) has published the local market's half-yearly results.

As at 30 June 2022, the Ivorian insurers posted a turnover of 288.5 billion FCFA (461.6 million USD), which represents a 14.6% increase over one year.

Non-life premiums have gone up by 19.1% to reach 184.1 billion FCFA (294.56 million USD), that is 63.8% of the overall life and non-life portfolio. The non-life activity performance was mainly sustained by the health, motor and construction classes of business.

With a 36.2% market share, the life insurance's premium income totaled 104.4 billion FCFA (167.04 million USD), growing by 7.4% compared to the end of June 2021.

During the period under consideration, the amount of benefits paid out has increased by 12.1% to 120.4 billion FCFA (192.64 million USD). Investments made amounted to 1 052.2 billion FCFA (1.7 billion USD), rising by 2.3% compared to 31 December 2021.

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