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The Guinean insurance market

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Magazine Issue: 
Reinsurers in control [3]
Magazine date: 
Nov 2021

Identity

Population: 12 771 246 inhabitants
Guinea flag
GDP: 13.514 billion USD
GDP per inhabitant: 1 058 USD
GDP growth rate: 5.6%
Inflation rate: 9.5%

Data as of 31/12/2019, Source: World Bank

The Guinean insurance market: main indicators

 2019
Turnover45.670 million USD
Penetration rate0.34%
Insurance density3.5 USD

Read also | Guinea insurance news [4]

Structure of the Guinean insurance market

Insurance and reinsurance companies
Composite companies5
Non life
6
Life
2
Total13
Intermediaries
Brokers
46
Authorized agents
90
Total136

Data as of 31/12/2019, Source: Central Bank of the Republic of Guinea

Supervisory authority
La Banque Centrale-Direction de la supervision des assurances (DSA)
www.bcrg-guinee.org [5]
Professional body
Association Professionnelle des Assureurs de Guinée (APAG)
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The Guinean insurance market: premium evolution

Figures in million USD
Activities2016201720182019
Non Life
26.89430.21735.17835.94
Life
7.7788.96510.0879.73
Total34.67239.18245.26545.67

Source: Central Bank of the Republic of Guinea

Exchange rate as at 31/12/2016: 1 GNF = 0.00011 USD ; at 31/12/2017: 1 GNF = 0.00011 USD ; at 31/12/2018: 1 GNF = 0,00011 USD ; at 31/12/2019: 1 GNF = 0,00010 USD

Thu, 18/11/2021 - 12:01

Source URL: https://www.atlas-mag.net/en/article/the-guinean-insurance-market

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-185-november-2021
[4] https://www.atlas-mag.net/en/category/pays/guinee
[5] https://www.bcrg-guinee.org/