The Association of Insurance Companies of Cameroon (ASAC) has published the provisional market figures for the year ended 31 December 2022.
Cameroonian insurers [4] closed the year 2022 with a 10.12% increase of their overall turnover to reach 253.1 billion FCFA (412.5 million USD) against 229.8 billion FCFA (397.6 million USD) in 2021.
Non-life premiums have progressed by 8.83% to stand at 166 billion FCFA (270.6 million USD) by the end of 2022.
The non-life insurance company ranking places AXA Assurance as the market leader with 8.84% of the non-life portfolio. Next are Activa Assurances and Chanas Assurances with respective market shares of 7.32% and 7.12%.
The life activity, for its part, has totaled 87.1 billion FCFA (141.9 million USD) of written premiums, which represents a 12.69% growth over a year. Allianz Vie is ranked first among the best life insurers with 10.05% of the life premium income. Prudential Beneficial Life (8.03%) and Activa Vie (3.76%) respectively occupy the second and third places.