Senegal, group insurance covers still dominating the life insurance sector

Senegalese life insurance business reported in 2015 33.827 billion FCFA (56 million USD) in turnover, with group insurance companies accounting for 73.14% of this figure. This sub-category has progressed by four points in comparison with 2014 when its market share was accounted for by just 69.3%.

All classes of business included (death, complementary retirement, and endowment), group insurance companies collect 24.744 billion FCFA (41 million USD) compared to 9.083 billion FCFA (15 million USD) for personal line insurance.

Death coverage has been the most successful when it comes to the area of personal line insurance in 2015. The amount of the premiums written in this class of business has jumped by 35.6% at 1.455 billion FCFA (2.4 million USD).