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Ivorian insurance market: increase of 15.1% recorded in 2023

26/01/2024
Source : ORISHAS FINANCE
Categories: Index/Markets Sectors

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The Ivorian insurance market achieved a turnover of nearly 600 billion CFA francs (about 1 billion dollars) last year. This is an increase of 15.1%. The market reinforces its leadership in the CIMA zone ahead of Cameroon, Senegal and Gabon

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The performance of the Ivorian insurance market is calculated using data that is still provisional. It is attributable to the white Non Vie, which stands out with a turnover of more than 349 billion CFA francs, registering a growth of 17.3% compared to the previous year. Indeed, the Non-Life branch is mainly supported by a top 3 of products such as car insurance, health insurance and fire & other property damage insurance, which account for a proportion of 78.5% of the turnover of this branch. The digitalization of car insurance certificates, begun in 2022, has had a significant impact on subscriptions, boosting car insurance turnover established at more than 110 billion CFA francs in 2023 against 87 billion CFA francs in 2022 and 78 billion CFA francs in 2021

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