Magazine date:
Oct 2005 
Insurance market features
- Regulatory authority: Ministry of economy, finance, budget and privatisation
- Premiums (2004): 101.3 million USD
- Insurance density (2004): 72.4 USD
- Penetration rate (2004): 1.4%
2004 market structure
Actors | Number |
|---|---|
Non life companies | 4 |
Life companies | 2 |
Brokers | 13 |
Identity
- Area: 267 667 Km2
- Population (est. 2004):
1 400 000 inhabitants - GDP (2004): 7.2 billion USD
- GDP per capita (2004):
5 143 USD - GDP growth rate (2003): 2%
- Inflation rate (2004): 1.5%
- Main economic sectors: Agriculture (coffee, cocoa, palm oil, sugar, ...), wood manufacturing, petroleum extraction, manganese and gold mining, chemical industry
Major towns
(in number of inhabitant)
- Libreville (capital): 450 000
- Port-Gentil: 164 000
- Franceville: 75 000
Turnover evolution: 2000-2004
in thousands USDClass of business | 2000 | 2001 | 2002 | 2003 | 2004 |
|---|---|---|---|---|---|
Life | 5 980 | 7 820 | 8 687 | 10 052 | 11 879 |
Non life | 44 683 | 49 852 | 77 580 | 81 909 | 89 427 |
Total | 50 663 | 57 672 | 86 267 | 91 961 | 101 306 |
Premiums split by class of business: 2002-2004
in thousands USD| 2000 | 2001 | 2002 | 2003 | 2004 | |
|---|---|---|---|---|---|
| Non life | |||||
Accident/Health | 554 | 10 891 | 16 210 | 13 210 | 13 050 |
Motor | 15 097 | 16 725 | 22 686 | 24 755 | 27 473 |
Fire and property damages | 6 647 | 6 867 | 9 923 | 12 647 | 15 239 |
Third party liability | - | 0 | 3 310 | 3 748 | * |
Marine | 8 335 | 12 943 | 24 281 | 26 602 | 25 123 |
Miscellaneous | 14 050 | 2 426 | 996 | 837 | 8 542 |
Acceptances | - | 0 | 174 | 110 | - |
Non life total | 44 683 | 49 852 | 77 580 | 81 909 | 89 427 |
| Life | |||||
Life | 5 980 | 7 820 | 8 687 | 10 052 | 11 879 |
Grand total | 50 663 | 57 672 | 86 267 | 91 961 | 101 306 |
2004 premiums split
By class of business [4] | By company [5] |
|---|
Premiums split by company
in thousands USD| 2002 | 2003 | 2004 | |
|---|---|---|---|
AXA vie | 4 083 | 4 642 | 5 743 |
OGAR vie | 4 604 | 5 410 | 6 136 |
Assurances Industrielles et Commerciales (ASSINCO) | 13 064 | 14 210 | 17 760 |
Assurances Nouvelles du Gabon (NSIA) | 8 035 | 12 574 | 14 508 |
AXA Assurances | 26 472 | 23 354 | 19 692 |
OGAR IARDT | 30 009 | 31 771 | 37 467 |
Total | 86 267 | 91 961 | 101 306 |
Exchange rate USD/XOF as at 31/12 | 2000 | 2001 | 2002 | 2003 | 2004 |
708.039 | 743.922 | 625.497 | 576.766 | 481.330 |
Source: Annuaire des sociétés d’assurances XIIème édition–FANAF