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Insurance market features 2016
- Regulatory authority: Ministry of finance and budget Insurance department
- Life and non life premiums(2016): 299 million USD
- Insurance density (2016): 12.75 USD
- Insurance penetration rate (2016): 1.23%
Insurance market structure 2016
- Non life insurance companies : 16
- Life insurance companies: 10
- Insurance and reinsurance brokers(2): 87
- Insurance agents: 71
Profile
Area: 475 442 Km2- Population(1) (2016): 23.44 million of inhabitants
- GDP(1) (2016): 24.204 billion USD
- GDP per capita (2016): 1 033 USD
- Inflation rate (2016): 2.2%
- Main economic sectors: hydrocarbon industry (petroleum), food industry, agriculture (coffee, cocoa, cotton ...), services.
Major cities
(per number of inhabitants in 2015)
- Yaoundé (capital): 2 765 000
- Douala : 2 768 000
- Garoua : 546 060
- Bamenda : 415 251
(2) Source : APCAR - professional association of insurance and reinsurance brokers of Cameroon
The Insurance Industry in Cameroon: evolution of life and non life turnover (2012-2016)
in USD| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
Non life | 222 577 832 | 251 149 461 | 216 965 909 | 217 664 405 | 211 261 289 |
Life | 80 815 709 | 86 114 843 | 82 198 512 | 85 885 175 | 87 360 356 |
Total | 303 393 541 | 337 264 304 | 299 164 421 | 303 549 580 | 298 621 645 |
The non life Insurance Industry in Cameroon: evolution of turnover per non life insurance company (2012-2016)
in USD| 2012 | 2013 | 2014 | 2015 | 2016 | 2016 shares | |
|---|---|---|---|---|---|---|
AXA Assurances | 22 532 093 | 25 905 881 | 25 269 501 | 32 452 270 | 32 867 791 | 15.5% |
SAAR Assurances | 29 649 709 | 38 695 302 | 34 008 882 | 29 958 984 | 30 423 877 | 14.4% |
ACTIVA Assurances | 28 401 580 | 31 605 455 | 28 670 468 | 27 773 270 | 28 461 664 | 13.5% |
Allianz Assurances Cameroun | 19 643 332 | 20 820 812 | 19 506 914 | 21 562 164 | 21 546 254 | 10.2% |
Chanas Assurances | 47 009 763 | 42 911 095 | 35 667 441 | 24 101 914 | 18 766 754 | 8.9% |
Garantie Mutuelle des Cadres | 11 146 460 | 15 497 882 | 14 330 289 | 15 061 143 | 15 027 814 | 7.1% |
Zenithe Insurance | 6 113 803 | 11 849 442 | 7 465 153 | 13 091 230 | 12 374 920 | 5.9% |
NSIA Assurances | 16 159 348 | 19 180 002 | 12 010 799 | 11 867 341 | 12 047 895 | 5.7% |
Saham Assurances Cameroun | 15 702 446 | 13 940 190 | 6 819 903 | 12 420 758 | 11 412 626 | 5.4% |
Assurances & Réassurances Africaines (AREA) | 4 425 063 | 5 370 056 | 7 030 209 | 6 817 159 | 6 390 272 | 3% |
Compagnie Professionnelle d'Assurances (CPA) | 4 317 747 | 3 986 946 | 4 118 955 | 4 691 128 | 4 711 623 | 2.2% |
Assurances Générales du Cameroun | 3 534 622 | 5 088 139 | 5 208 670 | 4 434 385 | 4 120 032 | 2% |
Pro Assur | 3 031 479 | 4 144 120 | 3 878 497 | 3 992 056 | 3 971 818 | 1.9% |
Beneficial General Insurance | 2 858 801 | 3 343 536 | 2 949 362 | 2 579 312 | 3 561 405 | 1.7% |
Cameroon Insurance (CAMINSUR) | 2 535 680 | 3 078 869 | 3 346 058 | 3 619 195 | 2 838 952 | 1.3% |
Samaritan Insurance | 5 515 906 | 5 731 734 | 6 684 808 | 3 242 096 | 2 737 592 | 1.3% |
Total | 222 577 832 | 251 149 461 | 216 965 909 | 217 664 405 | 211 261 289 | 100% |
Market shares per non life company in 2016
The life insurance Industry in Cameroon: evolution of turnover per life insurance company (2012-2016)
in USD| 2012 | 2013 | 2014 | 2015 | 2016 | 2016 shares | |
|---|---|---|---|---|---|---|
Allianz Cameroun Assurances Vie | 28 545 099 | 29 085 835 | 26 425 610 | 28 679 171 | 30 022 752 | 34.4% |
Beneficial Life | 15 765 062 | 17 132 877 | 15 811 876 | 17 039 548 | 16 599 179 | 19% |
SUNU Assurances Vie (1) | 16 041 084 | 13 107 247 | 16 036 886 | 15 852 453 | 14 644 332 | 16.8% |
ACTIVA Vie | 10 620 081 | 12 610 820 | 11 808 602 | 11 815 895 | 12 418 573 | 14.2% |
SAAR Vie | 5 256 599 | 6 674 471 | 5 844 949 | 6 376 661 | 6 103 602 | 7% |
Saham Life Insurance | 4 322 298 | 7 099 359 | 5 288 309 | 5 367 137 | 5 240 323 | 6% |
NSIA Assurances Vie | - | - | 387 754 | 419 511 | 1 979 044 | 2.2% |
Pro Assur Vie | 265 486 | 404 234 | 594 526 | 334 799 | 344 137 | 0.39% |
WAFA Assurance Vie | - | - | - | - | 5 192 | 0.006% |
ACAM Vie | - | - | - | - | 3 222 | 0.004% |
Total | 80 815 709 | 86 114 843 | 82 198 512 | 85 885 175 | 87 360 356 | 100% |
Market shares per life insurance company in 2016
The life insurance Industry in Cameroon: evolution of turnover per class of business (2012-2016)
in USD| 2012 | 2013 | 2014 | 2015 | 2016 | 2016 shares | |
|---|---|---|---|---|---|---|
Bodily injury and health | 56 328 810 | 62 094 354 | 51 089 417 | 50 429 998 | 50 424 320 | 16.9% |
Motor | 68 461 360 | 83 601 660 | 72 956 364 | 72 083 002 | 77 413 540 | 25.9% |
Fire and other property damage | 26 111 953 | 28 777 386 | 30 429 495 | 33 472 959 | 26 788 599 | 9% |
Marine | 48 592 700 | 50 782 367 | 36 355 582 | 37 212 759 | 30 090 343 | 10% |
Other risks(1) | 23 083 009 | 25 893 694 | 26 135 051 | 24 465 687 | 26 544 487 | 8.9% |
Total non life | 222 577 832 | 251 149 461 | 216 965 909 | 217 664 405 | 211 261 289 | 70.7% |
Life(2) | 80 815 709 | 86 114 843 | 82 198 512 | 85 885 175 | 87 360 356 | 29.3% |
Grand total | 303 393 541 | 337 264 304 | 299 164 421 | 303 549 580 | 298 621 645 | 100% |
Market shares per class of business in 2016
(2) Including group life policies, individual life insurance and acceptances Source: Association of Cameroon’s insurance companies (ASAC)
Exchange rate FCFA/USD as at 31/12 | 2012 | 2013 | 2014 | 2015 | 2016 |
0.002019 | 0.002098 | 0.001853 | 0.001666 | 0.001608 |