With the aim of conquer and retain a volatile clientele due to the complexity of the activity& Right;, insurance companies are multiplying initiatives.

Sanlam Assurance has launched a new range of products that mainly targets tontines, a form of savings commonly known as “Njangui”, in order to deal with market fluctuations in a difficult context where the penetration rate of insurance hovers around 2%. The role of “Njangui” is to allow people to obtain cash loans under relatively easy conditions at low interest rates.

Sanlam Assurance's strategy makes sense, especially with regard to the updated figures from the Ministry of Finance, which show that “Tontines represent 12.5% of Gross Domestic Product (GDP) compared with 0.5% for Life Insurance”. Like Salam Assurance, the socio-capitalist approach of Les Tontines should inspire insurers whose product “Caisse Solidarité” is similar to this concept. Data published by the Association of Insurance Companies of Cameroon (ASAC) indicate that the global turnover in 2021 amounted to 228 billion FCFA (396 million dollars). For its part, Sanlam Assurance found itself with a share capital of 10 billion FCFA (16 million dollars) and a turnover of 5 billion FCFA (8 million dollars) controlling barely 4% of market shares.