The Côte d'Ivoire's association of insurance companies (ASA-CI) has published the figures of the insurance sector for 2018.
The market reported a turnover of 360.2 billion FCFA (628 million USD) increasing by 9.3% compared to 329.2 billion FCFA (601 million USD) in 2017. The non-life class totalizes 205 billion FCFA (359 million USD) in premiums which represents a 57% market share. The life activity records 154.6 billion FCFA (270 million USD) which corresponds to 43% of market shares.
For 10 years now, the growth rate of nearly 8% has been consistent. Nevertheless, the Ivorian insurance market records a low penetration rate and this is notably due to the bad reputation of insurers. According to the Ivorian population, these latter considerably delay their motor claim settlements.
Read also | Ranking of Ivorian insurers [4]