The Association of Insurance Companies of Côte d'Ivoire (ASACI) has published the market results for the year 2020. The turnover recorded by all Ivorian insurers stands at 415 billion FCFA (777.07 million USD), a 6% increase compared to 2019.
Non-life premiums have grown by 4% to reach 232 billion FCFA (434.41 million USD). This activity represents 56% of the total premiums underwritten in Côte d'Ivoire in 2020.
With a 44% market share, the life activity totals a turnover of 183 billion FCFA (342.66 million USD), up by 8.6% over a year.
The Ivorian insurance sector [4] has shown resilience in the face of the Covid-19 pandemic. However, with 1.3% the penetration rate remains low.
The market comprises 32 insurance companies, including 21 non-life and 11 life entities.