Senegalese insurance market: significant growth in 2019

Magazine Issue:

The pandemic risk, insurers’ future Eldorado [3]

Magazine date:

Jul 2020

statistics The Senegalese insurance market [4], the third largest in the CIMA zone, achieved a considerable growth in 2019.

As of 31 December 2019, the life and non-life overall turnover amounted to 196.316 billion FCFA (335.154 million USD), compared to 177.683 billion FCFA (309.826 million USD) in 2018 thus increasing by 10.53%.

The non-life activity rose from 113.849 billion FCFA (198.518 million USD) in 2018 to 124.524 billion FCFA (212.589 million USD) in 2019; an increase of 9.4%.

By late 2019, life insurance witnessed a 13% growth and reached 69.777 billion FCFA (119.124 million USD) against 61.751 billion FCFA (107.675 million USD) in 2018.

Mon, 21/09/2020 - 09:54

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[3] https://www.atlas-mag.net/en/issue/pandemic-risk-future-eldorado-of-insurers
[4] https://www.atlas-mag.net/en/article/the-senegalese-insurance-market-1