Magazine date:
Jun 2005 
Insurance market features
- Regulatory authority: Ministry of Economy and Finance - Insurance Management
- Premiums (2003): 199 771 000 USD
- Insurance density (2003): 11.8 USD
- Penetration rate (2003): 1.46%
2003 market structure
Actors | Number |
|---|---|
Non life companies | 18 |
Life companies | 9 |
General agents | 16 |
Brokers | 27 |
Identity
- Area: 322 460 Km2
- Population (2004):
16 900 000 inhabitants - GDP (2004): 13.7 billion USD
- GDP per capita (2003): 811 USD
- GDP growth rate (2003): -3.8%
- Inflation rate (2003): 1.8%
- Main economic sectors: Agriculture (coffee, cocoa, bananas, pineapple, palm oil), gum and natural rubber production, food industry, wood production, textile industry, buses and trucks assembling, construction and repair of ships
Major cities
(in number of inhabitant)
- Abidjan: 3 000 000
- Bouaké: 600 000
- Daloa: 135 000
- Korogho: 115 000
- Yamoussoukro (capital):
110 000
Turnover evolution 2000-2003
in thousands USD| 2000 | 2001 | 2002 | 2003 | |
|---|---|---|---|---|
Life | 47 054 | 47 267 | 56 051 | 62 330 |
Non life | 109 229 | 98 263 | 120 679 | 137 441 |
Total | 156 283 | 145 530 | 176 730 | 199 771 |
in millions XOF
Premiums and incurred losses split by company
in thousands USD| Premiums | Incurred losses | Loss ratio | ||||
|---|---|---|---|---|---|---|
| 2003 | 2002 | 2003 | 2002 | 2003 | 2002 | |
| Non life companies | ||||||
COLINA S.A. | 22 982 | 14 802 | 7 739 | 4 363 | 33.7% | 29.5% |
Nouvelle Société Interafricaine d'Assurances (NSIA) | 17 905 | 17 491 | 10 078 | 10 526 | 56.3% | 60.2% |
AXA Assurances | 17 752 | 18 197 | 9 103 | 9 876 | 51.3% | 54.3% |
La Nationale d'Assurances | 12 723 | 14 556 | 6 094 | 8 752 | 47.9% | 60.1% |
Les Mans Assurances Internationales IARD | 12 550 | 13 156 | 7 722 | 4 726 | 61.5% | 35.9% |
AGF Côte d'Ivoire Assurances | 10 740 | 9 629 | 3 234 | 3 013 | 30.1% | 31.3% |
Société Ivoirienne d'Assurances Mutuelles | 9 286 | 8 729 | 5 167 | 4 963 | 55.6% | 56.9% |
Solidarité Africaine d'Assurances (SAFA) | 5 660 | 5 037 | 804 | 2 836 | 14.2% | 56.3% |
Compagnie Euro-Africaine d'Assurances (CEA) | 5 122 | 2 630 | 2 488 | 1 264 | 48.6% | 48.1% |
Société Mutuelle d'Assurances Vie (SOMA vie) | 4 539 | ND | ND | ND | ND | ND |
Mutuelle d'Assurances des Taxis Compteurs d'Abidjan (MATCA) | 4 222 | ND | ND | ND | ND | ND |
Mutuelle Centrale d'assurances (MCA) | 4 107 | 5 188 | 1 925 | 1 218 | 46.9% | 23.5% |
Mutuelle Agricole de Côte d'Ivoire | 3 820 | 5 302 | 1 444 | 1 100 | 37.8% | 20.7% |
Alliance Africaine d'Assurances | 3 310 | 2 939 | 1 667 | 1 353 | 50.4% | 46.0% |
SOMAT Assurances | 2 461 | 2 525 | 461 | 221 | 18.7% | 8.8% |
Garantie Mutuelle des Transporteurs | 262 | 498 | 0 | 17 | 0.0% | 3.4% |
La Loyale Assurances* | ||||||
Fédérale d'Assurances de Côte d'Ivoire* | ||||||
Non life total | 137 441 | 120 679 | 57 926 | 54 211 | 42.2% | 44.9% |
| Life companies | ||||||
Colina Africa Vie | 18 057 | 16 834 | 11 115 | 7 794 | ||
AXA Assurances Vie | 13 322 | 12 235 | 14 635 | ND | ||
AGF Côte d'Ivoire Assurances Vie | 10 976 | 8 822 | 7 831 | 4 260 | ||
Assurances Générales de Côte d'Ivoire (AGCI Vie) | 5 896 | 5 161 | 2 169 | 1 540 | ||
Le Mans Assurances Internationales Vie (LMAI-Vie) | 5 118 | 4 434 | 1 992 | 1 174 | ||
Société Tropicale d'Assurance Mutuelle Vie | 3 906 | 3 447 | 2 907 | 2 633 | ||
Beneficial Life Co. | 3 479 | 3 201 | 2 579 | 3 404 | ||
La Loyale Vie | 1 113 | 998 | 491 | 989 | ||
Alliance Africaine d'Assurances Vie | 463 | 919 | 339 | 333 | ||
Life total | 62 330 | 56 051 | 42 066 | 22 127 | ||
Grand total | 199 771 | 176 730 | 101 984 | 76 355 | ||
Premiums' evolution by class of business 2000-2003
in thousands USD| 2000 | % | 2001 | % | 2002 | % | 2003 | % | |
|---|---|---|---|---|---|---|---|---|
| Non life | ||||||||
Accidents / Health | 30 171 | 19.3% | 29 133 | 20.0% | 32 337 | 18.3% | 36 902 | 18.5% |
Motor | 44 903 | 28.7% | 39 539 | 27.2% | 44 319 | 25.1% | 51 606 | 25.8% |
Fire & property damages | 21 550 | 13.8% | 18 586 | 12.8% | 25 224 | 14.3% | 25 583 | 12.8% |
Third party liability | 3 967 | 2.5% | 4 047 | 2.8% | 5 673 | 3.2% | 4 878 | 2.4% |
Aviation | 432 | 0.3% | 343 | 0.2% | 857 | 0.5% | 1 115 | 0.6% |
Marine | 6 482 | 4.2% | 6 527 | 4.5% | 6 617 | 3.7% | 10 053 | 5.0% |
Other marine | 511 | 0.3% | 324 | 0.2% | 619 | 0.4% | 659 | 0.3% |
Miscellaneous | 1 213 | 0.8% | 1 108 | 0.7% | 1 634 | 0.9% | 6 306 | 3.2% |
Acceptances | 0 | 0.0% | -1 344 | -0.9% | 3 399 | 1.9% | 339 | 0.2% |
Non life total | 109 229 | 69.9% | 98 263 | 67.5% | 120 679 | 68.3% | 137 441 | 68.8% |
Life | ||||||||
Life | 47 054 | 30.1% | 47 267 | 32.5% | 56 051 | 31.7% | 62 330 | 31.2% |
Grand total | 156 283 | 100.0% | 145 530 | 100.0% | 176 730 | 100.0% | 199 771 | 100.0% |
Premiums split by class of business in 2003
Exchange rate USD/XOF as at 31/12 | 2000 | 2001 | 2002 | 2003 |
708.039 | 743.922 | 625.497 | 576.766 |