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NSIA Assurances, insurance activity in figures

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Magazine Issue: 
The insurance of connected items [3]
Magazine date: 
Mar 2016
According to the survey conducted by Atlas Conseil International (ACI)(2), the group NSIA has posted the most important turnover of the five largest insurance groups standing in the FANAF space (NSIA, SAHAM, AXA, ALLIANZ, SUNU).

groupe-nsiaThe premiums' volume of the 16 subsidiaries under study amounted to 125.275 billion FCFA (232.1 million USD), far ahead the figure reported by SAHAM 108.984 billion FCFA (202 million USD), second in the ranking. NSIA’s 16 life and non life companies, alone, accounted for 14% of the turnover reported by all 140 companies operating in the FANAF zone, mentioned in the Atlas survey.

Life and non life premiums of the 5 largest groups: 2013-2014

in millions USD Source: Special FANAF figures 2014-Atlas Magazine (1) Federation of Africain insurance companies (FANAF). Regional organsiation gathering 29 African countries and 194 insurance and reinsurance companies
(2) www.atlas-mag.net/en/article/fanaf-2014-special-figures
(3)Figures for the 16 subsidiaires of the group only

NSIA Assurances subsidiaries

It is NSIA Assurances Gabon which reported in 2014 the highest turnover, followed by the two life and non life Ivorian subsidiaries.

It is worth noting that the first five companies of the group posted approximately 60% of the insurance turnover and 94% in net results of this class of business.

in USD

Life and non life insurance subsidiariesCategoryCountryTurnover in 2014Technical resultsNet results
    AmountRankingAmountRanking
NSIA Assurances, Gabon
NLGabon41 043 9502 753 55813 728 2362
NSIA Assurances Life Côte d’Ivoire
VCôte d'Ivoire36 101 9992 054 97733 342 8123
NSIA Assurances, Côte d’Ivoire
NLCôte d'Ivoire35 577 6002 084 6252526 2528
NSIA Assurances, Nigéria
NLNigeria29 905 5671 387 89746 024 1031
NSIA Assurances, Congo
NLCongo22 773 3701 126 62461 185 9204
NSIA Assurances, Sénégal
NLSenegal17 147 6621 221 1275837 5567
NSIA Assurances, Bénin
NLBenin15 791 266129 7109972 8256
NSIA Assurances, Togo
NLTogo14 042 034-548 48816987 6495
NSIA Assurances, Cameroun
NLCameroon12 011 146-272 39113-353 92316
NSIA Assurances, Guinée
NLGuinea9 496 62555 5901035 20714
NSIA Assurances Life, Togo
LTogo7 967 900-442 8671568 56113
NSIA Assurances Life, Mali
LMali7 621 389-392 83614-694 87518
NSIA Assurances Life, Sénégal
LSenegal7 558 387-648 55017426 19010
NSIA Assurances Life, Bénin
LBenin4 764 063-114 88611502 1639
NSIA Assurances Life, Gabon
LGabon4 052 511-728 22919-607 78417
NSIA Assurances, Mali
NLMali3 843 122-231 62512-264 97915
NSIA Assurances Life, Congo
LCongo3 189 013583 6957331 68711
NSIA Assurances, Ghana
NLGhana1 693 642-1 447 19320-1 536 13719
NSIA Assurances, Guinée Bissau
NLGuinea Bissau1 545 402268 6858311 30412
NSIA Assurances Life, Cameroun
VCameroon387 277-661 52118NANA
Total
  276 513 9256 177 902 15 822 767 

NL: Non life insurance company
L: Life insurance company
NA: Not available

The activity of NSIA Assurances subsidiaries

The activity of insurance subsidiaries of the NSIA group [4] has been examined through four aspects:

  • The turnover reported in 2014,
  • The subsidiary’s contribution in its own life and non life activity,
  • The subsidiary’s contribution in the combined turnover of life and non life insurance,
  • The subsidiary’s contribution in the group’s total turnover, all classes of business included.

Figures at 31.12.2014 in USD

 Non life insurance activityTurnover% in the non life activity% in the combined life and non life activities% in the overall turnover of NSIA
1NSIA Assurances, Gabon41 043 95020%14.84%11.32%
2NSIA Assurances, Côte d’Ivoire35 577 60017.4%12.87%9.81%
3NSIA Assurances, Nigéria29 905 56714.6%10.82%8.25%
4NSIA Assurances, Congo22 773 37011%8.24%6.28%
5NSIA Assurances, Sénégal17 147 6628.4%6.20%4.73%
6NSIA Assurances, Bénin15 791 2667.7%5.71%4.36%
7NSIA Assurances, Togo14 042 0346.9%5.08%3.87%
8NSIA Assurances, Cameroun12 011 1465.9%4.34%3.31%
9NSIA Assurances, Guinée9 496 6254.6%3.43%2.62%
10NSIA Assurances, Mali3 843 1221.9%1.39%1.06%
11NSIA Assurances, Ghana1 693 6420.8%0.61%0.47%
12NSIA Assurances, Guinée Bissau1 545 4020.8%0.56%0.43%
Total non life insurance subsidiaries204 871 386100%74.09%56.50%
13NSIA Assurances Life, Côte d’Ivoire36 101 99950.4%13.06%9.96%
14NSIA Assurances Life, Togo7 967 90011.1%2.88%2.20%
15NSIA Assurances Life, Mali7 621 38910.6%2.76%2.10%
16NSIA Assurances Life, Sénégal7 558 38710.6%2.73%2.08%
17NSIA Assurances Life, Bénin4 764 0636.6%1.72%1.31%
18NSIA Assurances Life, Gabon4 052 5115.7%1.47%1.12%
19NSIA Assurances Life, Congo3 189 0134.5%1.15%0.88%
20NSIA Assurances Life, Cameroun387 2770.5%0.14%0.11%
Total life insurance subsidiaries71 642 539100%25.91%19.76%
Total life and non life insurance subsidiaries
276 513 925  76.26%

NSIA Assurances market share per country

It is in Guinea that the market share of NSIA is the highest with 29.1%. Togo and Benin come second and third with 26.9% and 26.5% respectively. NSIA’s poor impact on the Cameroonian market (4.3%) is worth noting. In the life class of business, NSIA Mali, alone, accounts for 53.4% of the market share.

Figures as at 31.12.2014 in USD

Country
CategoryTotal market premiumsPremiums achieved by NSIANSIA market share
Benin
Non life55 034 10015 791 26628.7%
Life22 482 4494 764 06321.2%
Total 77 516 549 20 555 329 26.5%
Cameroon
Non life204 756 50012 011 1465.9%
Life80 976 100387 2770.5%
Total 285 732 600 12 398 423 4.3%
Congo Brazzaville
Non life120 815 60022 773 37018.8%
Life9 079 7003 189 01335%
Total 129 895 300 25 962 383 20.0%
Côte d'Ivoire
Non life253 305 10035 577 60014.0%
Life204 756 50036 101 99917.6%
Total 458 061 600 71 679 599 15.6%
Gabon
Non life187 153 00041 043 95021.9%
Life32 798 1004 052 51112.4%
Total 219 951 100 45 096 461 20.5%
Guinea
Non life27 053 8009 496 62535.1%
Life5 744 300--
Total 32 798 100 9 496 625 29.1%
Mali
Non life44 842 6003 843 1228.6%
Life14 268 1007 621 38953.4%
Total 59 110 700 11 464 511 19.4%
Senegal
Non life136 566 10017 147 66212.6%
Life48 733 9007 558 38715.5%
Total 185 300 000 24 706 049 13.3%
Togo
Non life45 398 50014 042 03430.9%
Life36 504 1007 967 90021.8%
Total 81 902 600 22 009 934 26.9%
Total of markets under study
1 530 268 549243 369 31415.9%

Contribution of each market in NSIA’s insurance turnover

In terms of premiums, two countries are performing well: Côte d’Ivoire which contributes with 25.92% in the group’s insurance turnover and Gabon whose contribution amounts to 16.32%.
With 6024 103 USD, Nigeria is reporting 38% of the total net result.

in USD

 CountryNSIA’s life and non life turnoverShare in the insurance turnover of NSIANSIA’s net resullt (Life and non life)% in the net result of NSIA
1Benin20 555 3297.43%1 474 9889.32%
2Cameroon12 398 4234.48%-353 923-2.24%
3Congo25 962 3839.39%1 517 6079.59%
4Côte d'Ivoire71 679 59925.92%3 869 06424.45%
5Gabon45 096 46116.32%3 120 45219.72%
6Guinea9 496 6253.43%35 2070.22%
7Mali11 464 5114.15%-959 854-6.07%
8Senegal24 706 0498.93%1 263 7468%
9Togo22 009 9347.96%1 056 2106.68%
10Ghana1 693 6420.61%-1 536 137-9.71%
11Guinea Bissau1 545 4020.56%311 3041.97%
12Nigeria29 905 56710.82%6 024 10338.07%
Group total276 513 925100%15 822 767100%

Main technical highlights of NSIA group: 2010-2014

in USD

 20102011201220132014
Gross written premiums
190 759 744231 409 792239 344 374281 564 188276 513 925
Written premiums net of reinsurance
151 825 060184 068 841188 933 982216 081 412214 657 079
Gross incurred losses (1)
69 833 75493 911 689102 716 625123 777 804140 040 475
Incurred losses net of reinsurance
61 730 09476 134 44983 992 419100 139 63851 450 398
Management expenses (2)
70 398 74285 549 95190 330 060103 404 12696 040 990
Loss ratios(3)
37.59%40.69%43.06%44.5%50.92%
Expenses ratios
36.9%36.96%37.74%36.72%34.78%
Combined ratios
74.49%77.65%80.80%81.22%85.70%
Technical results
6 004 5448 048 0226 493 104467 8546 843 129
Financial income
7 202 56612 116 27515 152 59517 237 16812 935 793
Pre-tax results
15 139 20422 949 53223 808 04820 684 18225 045 148
Net results (after tax)
11 477 09215 438 44716 594 16114 472 00415 824 620

(1) Paid losses + outstanding losses
(2) Overhead expenses + acquisition costs
(3) Incurred losses /earned premiums

The group turnover per class of business: 2010-2014

in USD

Class of business20102011201220132014% in 2014
Motor
41 365 78246 236 91246 774 17353 924 89452 135 60618.85%
Property damage & miscellaneous accident
9 839 86414 726 55313 985 61316 926 66420 795 9767.52%
Marine
9 736 76413 827 63615 790 59919 091 80017 563 4796.35%
Health
37 202 60444 680 39846 632 84353 977 34450 107 40918.12%
Personal accident
5 532 3464 265 3314 690 1374 577 8363 817 0181.38%
Third party liability
8 349 0388 544 7397 825 64410 189 9867 570 9452.74%
Fire
19 007 51625 493 44723 038 80929 875 52024 624 1288.91%
Energy
ND1 321 2271 469 8321 485 3841 423 2630.51%
Engineering
ND657 5971 126 6021 380 4841 317 4930.48%
Reinsurance acceptances
12 202 91610 135 44011 835 37814 965 03415 236 5275.51%
Life insurance
47 527 03861 522 52366 096 00375 171 34081 922 08029.63%
Total
190 761 806 231 413 814 239 269 671 281 566 286 276 513 925 100%
Exchange rate
FCFA/USD au 31/12
2010
2011
2012
2013
2014
0.002062
0.002011
0.002019
0.002098
0.001853

Source: NSIA

Technical indicators of NSIA Assurances' subsidiaries (2010-2014)

Atlas Magazine provides you with a presentation sheet for every life and non life insurance subsidiary of NSIA group.

To directly access the sheet in question, please click on the name of the subsidiary mentioned in the list below. You will find its main technical highlights for the 2010-2014 period

Non life insurance companies

Life insurance companies

Mon, 04/04/2016 - 11:53

Source URL: https://www.atlas-mag.net/en/article/nsia-assurances-insurance-activity-in-figures

Links:
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[3] https://www.atlas-mag.net/en/issue/the-insurance-of-connected-items
[4] http://www.atlas-mag.net/en/article/nsia-group-a-100-african-success-story
[5] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-gabon
[6] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-cote-ivoire
[7] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-nigeria
[8] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-congo
[9] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-senegal
[10] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-benin
[11] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-togo
[12] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-cameroun
[13] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-guinee
[14] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-mali
[15] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-ghana
[16] http://www.atlas-mag.net/en/article/nsia-non-life-insurance-subsidiaries#nsia-assurance-guinee-bissau
[17] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-cote-ivoire
[18] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-togo
[19] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-mali
[20] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-senegal
[21] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-benin
[22] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-gabon
[23] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-congo
[24] http://www.atlas-mag.net/en/article/nsia-life-insurance-subsidiaries#nsia-vie-cameroun