Top 100 insurance companies in Africa - 2019
Figures in millions
2019 rank | Companies | Class of business | Country | 2019 turnover | 2018 turnover | 2018-2019 evolution * | ||
---|---|---|---|---|---|---|---|---|
In local currency | In USD | In local currency | In USD | |||||
1 | Sanlam | L | South Africa | 87 931 | 6 254 | 67 246 | 4 655 | 30.76% |
2 | Old Mutual Life | L | South Africa | 55 324 | 3 935 | 53 920 | 3 733 | 2.60% |
3 | Liberty Group | L | South Africa | 38 820 | 2 761 | 37 494 | 2 596 | 3.54% |
4 | Santam | NL | South Africa | 28 431 | 2 022 | 26 361 | 1 825 | 7.85% |
5 | MML Group Limited (1) | L | South Africa | 27 510 | 1 948 | 21 355 | 1 553 | 28.82% |
6 | Wafa Assurance | C | Morocco | 8 853 | 912 | 8 371 | 875 | 5.76% |
7 | The Hollard Insurance (1) | NL | South Africa | 11 326 | 802 | 11 179 | 813 | 1.31% |
8 | Old Mutual Insure | NL | South Africa | 10 660 | 758 | 9 511 | 658 | 12.08% |
9 | Guardrisk Insurance (1) | NL | South Africa | 9 984 | 707 | 8 201 | 596 | 21.75% |
10 | Royale Marocaine d'Assurance | C | Morocco | 6 816 | 702 | 6 544 | 684 | 4.16% |
11 | OUTsurance Insurance | NV | South Africa | 8 380 | 593 | 7 796 | 567 | 7.49% |
12 | Saham Assurance | C | Morocco | 5 422 | 559 | 5 223 | 546 | 3.81% |
13 | Misr Insurance (1) | NL | Egypt | 8 990 | 538 | 8 557 | 478 | 5.06% |
14 | Mutuelle Taamine Chaabi | L | Morocco | 5 123 | 528 | 4 253 | 445 | 20.46% |
15 | The Hollard Life Assurance (1) | L | South Africa | 7 448 | 527 | 6 498 | 473 | 14.62% |
16 | Guardrisk Life (1) | L | South Africa | 7 408 | 524 | 6 790 | 494 | 9.09% |
17 | Axa Assurance Maroc | C | Morocco | 4 645 | 479 | 4 231 | 442 | 9.79% |
18 | Professional Provident Society Insurance | L | South Africa | 4 606 | 328 | 4 211 | 292 | 9.37% |
19 | Bryte Insurance Company | NL | South Africa | 4 528 | 322 | 4 275 | 296 | 5.93% |
20 | AVBOB Mutual Assurance (1) | L | South Africa | 4 158 | 294 | 3 636 | 264 | 14.37% |
Read also | African insurance market
21 | Absa Life | L | South Africa | 4 085 | 291 | 3 780 | 262 | 8.07% |
22 | Atlanta | C | Morocco | 2 664 | 275 | 2 433 | 254 | 9.52% |
23 | Misr Life Insurance Company (1) | L | Egypt | 4 403 | 263 | 3 974 | 222 | 10.79% |
24 | Leadway Assurance | C | Nigeria | 90 596 | 248 | 87 520 | 240 | 3.52% |
25 | Botswana Life Insurance | L | Botswana | 2 651 | 246 | 2 397 | 219 | 10.57% |
26 | Assupol Holdings (1) | L | South Africa | 3 458 | 245 | 2 987 | 217 | 15.76% |
27 | SAA | NL | Algeria | 29 117 | 243 | 27 679 | 232 | 5.20% |
28 | Britam Life | L | Kenya | 23 942 | 234 | 20 619 | 201 | 16.12% |
29 | Marocaine Vie | L | Morocco | 2 268 | 234 | 1 826 | 191 | 24.22% |
30 | Mutual & Federal Risk Financing | NL | South Africa | 3 221 | 229 | 2 847 | 197 | 13.15% |
31 | Sanad | C | Morocco | 2 176 | 224 | 2 022 | 211 | 7.61% |
32 | Absa Insurance | NL | South Africa | 3 093 | 220 | 2 567 | 178 | 20.52% |
33 | Auto and General Insurance (1) | NL | South Africa | 2 993 | 212 | 3 592 | 261 | -16.68% |
34 | CAAT | NL | Algeria | 24 589 | 206 | 24 126 | 202 | 1.92% |
35 | Standard Insurance | NL | South Africa | 2 759 | 196 | 2 659 | 184 | 3.74% |
36 | Escap(2) | NL | South Africa | 2 722 | 187 | 3 341 | 282 | -18.54% |
37 | Allianz Life Egypt (1) | L | Egypt | 3 120 | 187 | 1 978 | 110 | 57.76% |
38 | Metlife Egypt (1) | L | Egypt | 2 855 | 171 | 2 374 | 132 | 20.24% |
39 | MCMA | C | Morocco | 1 541 | 159 | 1 419 | 148 | 8.65% |
40 | Nedgroup Life Assurance | L | South Africa | 2 172 | 154 | 2 006 | 139 | 8.25% |
41 | Allianz Assurance Maroc | L | Morocco | 1 480 | 153 | 1 367 | 143 | 8.25% |
42 | Sasria (2) | NL | South Africa | 2 169 | 149 | 1 994 | 168 | 8.76% |
43 | Renasa Insurance (1) | NL | South Africa | 2 045 | 145 | 1 405 | 102 | 45.51% |
44 | Lombard Insurance (1) | NL | South Africa | 2 019 | 143 | 1 813 | 132 | 11.31% |
45 | Jubilee Insurance | L | Kenya | 14 134 | 138 | 12 653 | 123 | 11.70% |
46 | AIICO Insurance | C | Nigeria | 50 138 | 137 | 37 666 | 103 | 33.12% |
47 | STAR | C | Tunisia | 375 | 134 | 359 | 119 | 4.50% |
48 | ENSA seguros de Angola | C | Angola | 63 796 | 131 | 47 697 | 154 | 33.75% |
49 | Budget Insurance (1) | NL | South Africa | 1 828 | 129 | 1 749 | 127 | 4.51% |
50 | Custodian & Allied | C | Nigeria | 47 203 | 129 | 36 722 | 101 | 28.54% |
51 | Clientele Life (1) | L | South Africa | 1 826 | 129 | 1 792 | 130 | 1.91% |
52 | CAAR | NL | Algeria | 15 365 | 128 | 15 195 | 127 | 1.12% |
53 | SWAN Life | L | Mauritius | 4 821 | 128 | 4 395 | 125 | 9.70% |
54 | ICEA Lion Life | L | Kenya | 13 041 | 128 | 12 114 | 118 | 7.65% |
55 | Alexander Forbes Insurance (2) | NL | South Africa | 1 776 | 122 | 1 695 | 143 | 4.77% |
56 | CNMA | NL | Algeria | 14 312 | 120 | 14 025 | 117 | 2.05% |
57 | AXA Life Egypt (1) | L | Egypt | 2 000 | 120 | 1 599 | 89 | 25.13% |
58 | AXA Mansard Insurance | C | Nigeria | 43 620 | 120 | 33 924 | 93 | 28.58% |
59 | King Price Insurance (1) | NL | South Africa | 1 612 | 114 | 1 173 | 85 | 37.38% |
60 | Mamda | NL | Morocco | 1 035 | 107 | 1 001 | 105 | 3.39% |
61 | Compass Insurance | NL | South Africa | 1 496 | 106 | 1 411 | 98 | 6.03% |
62 | Ethiopian Insurance Corporation (1) | C | Ethiopia | 3 117 | 106 | 2 842 | 102 | 9.69% |
63 | CASH Assurances | NL | Algeria | 12 676 | 106 | 9 499 | 80 | 33.45% |
64 | CIC General | NL | Kenya | 10 537 | 103 | 10 090 | 98 | 4.43% |
65 | Hollard Specialist Insurance (1) | NL | South Africa | 1 434 | 101 | 1 396 | 102 | 2.70% |
66 | 1 Life (1) | L | South Africa | 1 387 | 98 | 1 334 | 97 | 3.98% |
67 | SAHAM Assurance CI | NL | Côte d'Ivoire | 56 771 | 97 | 52 017 | 91 | 9.14% |
68 | APA Insurance | NL | Kenya | 9 337 | 91 | 9 559 | 93 | -2.32% |
69 | UAP Insurance | NL | Kenya | 9 279 | 91 | 9 150 | 89 | 1.40% |
70 | SUNU Assurances Vie | L | Côte d'Ivoire | 50 682 | 87 | 48 904 | 85 | 3.63% |
71 | Nedgroup Insurance | NL | South Africa | 1 180 | 84 | 1 175 | 81 | 0.46% |
72 | CIAR | NL | Algeria | 9 866 | 82 | 10 099 | 85 | -2.31% |
73 | Old Mutual Alternative Risk Transfer | L | South Africa | 1 145 | 81 | 1 007 | 70 | 13.68% |
74 | SWAN | NL | Mauritius | 3 060 | 81 | 2 882 | 82 | 6.19% |
75 | Britam | NL | Kenya | 8 209 | 80 | 8 049 | 79 | 1.99% |
76 | Infiniti Insurance (2) | NL | South Africa | 1 155 | 80 | 1 123 | 95 | 2.85% |
77 | Allianz Global Corporate | NL | South Africa | 1 117 | 79 | 985 | 68 | 13.39% |
78 | Jubilee Health | NL | Kenya | 7 884 | 77 | - | - | - |
79 | Enterprise Life | L | Ghana | 437 | 76 | 360 | 74 | 21.23% |
80 | COMAR | C | Tunisia | 212 | 76 | 208 | 69 | 1.97% |
81 | CAT | NL | Morocco | 693 | 71 | 689 | 72 | 0.61% |
82 | First for Women Insurance (1) | NL | South Africa | 952 | 67 | 936 | 68 | 1.78% |
83 | GIG Egypt (1) | NL | Egypt | 1 110 | 66 | 971 | 54 | 14.28% |
84 | Bupa Egypt (1) | NL | Egypt | 1 086 | 65 | 967 | 54 | 12.30% |
85 | GA Insurance | NL | Kenya | 6 520 | 64 | 5 977 | 58 | 9.08% |
86 | SICOM Life | L | Mauritius | 2 382 | 63 | 6 384 | 181 | -62.69% |
87 | Mauritius Union Assurance | NL | Mauritius | 2 350 | 62 | 2 253 | 64 | 4.30% |
88 | AXA Insurance(1) | NL | Egypt | 1 043 | 62 | 589 | 33 | 77.04% |
89 | Momentum Short Term Insurance (1) | NL | South Africa | 881 | 62 | 747 | 54 | 17.86% |
90 | SIC Life | L | Ghana | 355 | 62 | 305 | 63 | 16.44% |
91 | GAT | NL | Tunisia | 171 | 61 | 175 | 58 | -2.05% |
92 | The Federated Employers Mutual Assurance Company | NL | South Africa | 857 | 61 | 957 | 66 | -10.45% |
93 | MAGHREBIA | NL | Tunisia | 170 | 61 | 159 | 53 | 6.44% |
94 | Suez Canal Insurance (1) | NL | Egypt | 1 007 | 60 | 938 | 52 | 7.32% |
95 | ASTREE | C | Tunisia | 168 | 60 | 155 | 52 | 8.40% |
96 | CIC Life | L | Kenya | 6 072 | 59 | 6 074 | 59 | -0.04% |
97 | Maroc Assistance Internationale | NL | Morocco | 568 | 59 | 542 | 57 | 4.87% |
98 | Dial Direct Insurance (1) | NL | South Africa | 825 | 58 | 899 | 65 | -8.32% |
99 | AMI | C | Tunisia | 161 | 58 | 168 | 56 | -4.17% |
100 | AAR Insurance | NL | Kenya | 5 862 | 57 | 5 609 | 55 | 4.51% |
*Evolution in local currency
(1) The year ending June 30th
(2) The year ending March 31th
L = Life
NL= Non life
C= Composite
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Mon, 08/11/2021 - 16:42
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