The Senegalese insurance market: 2016 turnover

Magazine Issue:

Magazine date:

Feb 2018

The Senegalese non life insurance market: turnover per company 2015-2016

in thousands

	2016		2015		2015-2016 evolution⁽¹⁾	2016 shares
	In FCFA	In USD	In FCFA	In USD	2015-2016 evolution⁽¹⁾	2016 shares
AXA Assurances	12 741 000	20 488	12 510 000	20 842	1.85%	13.47%
ALLIANZ Assurances	11 326 400	18 213	10 200 000	16 993	11.04%	11.98%
NSIA Senegal Assurances	9 546 500	15 351	10 126 000	16 870	-5.72%	10.10%
La Prévoyance Assurances	9 156 900	14 724	8 000 000	13 328	14.46%	9.68%
Saham Assurances	9 056 100	14 562	7 414 000	12 352	22.15%	9.58%
CNART Assurances	6 536 500	10 511	6 503 000	10 834	0.52%	6.91%
ASKIA Assurances	6 312 500	10 151	5 309 000	8 845	18.90%	6.68%
SONAM Assurances	6 007 100	9 659	4 895 000	8 155	22.72%	6.36%
AMSA Assurances	5 231 300	8 412	4 559 000	7 595	14.75%	5.53%
SONAM Mutuelle	4 085 000	6 569	3 010 000	5 015	35.71%	4.32%
SUNU Assurances IARD Sénégal	4 010 800	6 449	3 828 000	6 377	4.78%	4.24%
Assurance Sécurité Sénégalaise (ASS)	3 876 200	6 233	3 838 000	6 394	1.00%	4.10%
Salama Assurances Sénégal	2 100 200	3 377	2 426 000	4 042	-13.43%	2.22%
Société Nationale d'Assurances du Crédit & du Cautionnement (SONAC)	1 519 500	2 443	1 354 000	2 256	12.22%	1.61%
Wafa Assurance	1 088 600	1 750	1 143 000	1 904	-4.76%	1.15%
SAAR Assurances	984 400	1 583	439 000	731	124.24%	1.04%
Compagnie Nationale d'Assurance Agricole du Sénégal (CNAAS)	859 300	1 382	746 000	1 243	15.19%	0.91%
Mutuelle d'Assurances Agricoles du Sénégal (MAAS)	115 000	185	71 000	118	61.97%	0.12%
Total⁽²⁾	94 553 300	152 042	86 371 000	143 894	9.47%	100%

⁽¹⁾growth rate in local currency
⁽²⁾ including acceptances

Market shares of the top ten non life insurance companies in 2016

market Senegal non life insurance

⁽¹⁾ 8 companies

The Senegalese life insurance market: turnover per company 2015-2016

in thousands

	2016		2015		2015-2016 evolution⁽¹⁾	2016 shares
	In FCFA	In USD	In FCFA	In USD	2015-2016 evolution⁽¹⁾	2016 shares
SONAM Vie	10 023 900	16 118	8 180 200	13 628	22.54%	22.11%
AMSA Assurances Vie	8 026 400	12 907	3 082 600	5 136	160.38%	17.70%
NSIA Vie Sénégal	7 693 600	12 371	8 508 100	14 175	-9.57%	16.97%
SUNU Assurances Vie Sénégal	7 333 600	11 792	5 374 800	8 954	36.44%	16.17%
ALLIANZ Vie	6 212 400	9 990	6 739 300	11 228	-7.82%	13.70%
WAFA Vie	3 345 900	5 380	382 300	637	775.20%	7.38%
La Sénégalaise de l’Assurance Vie (SENVIE)	1 408 300	2 265	702 900	1 171	100.36%	3.10%
SAAR Vie	1 301 600	2 093	1 302 700	2 170	-0.08%	2.87%
Total	45 345 700	72 916	34 272 900	57 099	32.31%	100%

⁽¹⁾ Growth rate in local currency

Market shares of life insurance companies in 2016

market Senegal life insurance

The Senegalese life and non life insurance market: turnover per class of business 2015-2016

in thousands

	2016 turnover		2015 turnover		2016 market shares
	In FCFA	In USD	In FCFA	In USD	2016 market shares
Non life insurance
Motor⁽¹⁾	30 062 136	48 340	29 223 865	48 687	21.5%
Fire and other damage	16 627 665	26 737	15 140 692	25 224	11.9%
Marine ⁽²⁾	8 923 481	14 349	10 438 430	17 390	6.4%
Personal accident	762 298	1 226	710 339	1 183	0.5%
Health	23 370 151	37 579	19 478 892	32 452	16.7%
Engineering	5 144 189	8 272	2 684 093	4 472	3.7%
Other risks	9 663 380	15 539	8 694 689	14 486	6.9%
Total non life	94 553 300	152 042	86 371 000	143 894	67.6%
Life insurance
Individual life insurance	13 140 687	21 130	9 202 825	15 332	9.38%
Group life policies	32 205 013	51 786	25 070 075	41 767	23.02%
Total life⁽³⁾	45 345 700	72 916	34 272 900	57 099	32.4%
Total général	139 899 000	224 958	120 643 900	200 993	100%

Market shares per class of business in 2016

market Senegal life non life insurance

⁽¹⁾ Including third party liability
⁽²⁾ Including aviation
⁽³⁾ Including group life policies and individual life insurance Exchange rate as at 31/12/2016 : 1 FCFA = 0.001608 USD; as at 31/12/2015 : 1 FCFA = 0.001666 USD. Source: Fédération Sénégalaise des Sociétés d’Assurances (FSSA)