Insurance Indicators | Portail d'Informations et de Promotion l'Economie de Côte d'Ivoire

The insurance market in Côte d'Ivoire is experiencing significant growth. The revenue, which has been steadily increasing, reached 414.7 billion FCFA in 2020. The benefits have seen a similar trend up until 2019. In 2020, the benefits provided to customers amounted to 392.3 billion FCFA.

Evolution of the activity of insurance companies (in millions of FCFA)

Items	2013	2014	2015	2016	2017	2018	2019	2020
Net premium income (Revenue)	237,972	251,207	281,719	308,188	335,223	360,525	393,956	414,685
Net financial products	20,732	25,000	31,327	23,350	32,352	26,291	30,105	26,868
Commissions received	5,222	6,124	6,480	5,374	6,951	7,707	8,805	10,720
Benefits	208,176	259,128	271,064	291,975	304,339	346,167	410,945	392,347
Premiums ceded to reinsurers	39,427	45,190	49,572	49,848	55,772	53,344	61,892	69,819
Other net charges	51,047	59,965	62,167	61,476	70,588	73,330	77,666	80,415
Commissions paid	23,720	28,316	31,214	35,298	36,132	39,080	42,987	45,402

Source: Source: MFB/DGTCP

Revenue evolution by branch (in millions of FCFA)

image-20240827112610-1

Source: Source: MFB/DGTCP

The revenue is largely generated by the Non-life branches (56.3% of the average share during the period 2013-2020).

Evolution by branch of benefits provided to customers (in millions of FCFA)

image-20240827112634-2

Source: Source: MFB/DGTCP

The Life branches provide relatively more benefits to customers despite lower revenue compared to the Non-life branches (See graph).

In the course of their activities, insurance companies have made cumulative investments amounting to 963.6 billion FCFA in 2020 compared to 550.0 billion in 2013, nearly doubling.

Coverage rate of regulated commitments

Items	2013	2014	2015	2016	2017	2018	2019	2020
Insurance companies	29	29	27	31	31	33	33	33
Regulated commitments (RC) in millions of FCFA	537,403	582,688	611,754	698,764	726,951	758,781	777,217	897,611
Cumulative investments (in millions of FCFA)	549,960	588,310	624,440	705,181	757,090	803,881	897,395	963,606
Coverage rate of RC (%)	102	101	102	101	104	106	115	107

Source: MFB/DGTCP

The coverage rates of regulated commitments are satisfactory (>100%), although with low margins (107% in 2020); this indicates that safe, profitable, and liquid cumulative investments cover the regulated commitments of the branches (See Table).

SAVOIR +

Here is the translation of the provided text into English:

SYNTHESIS OF NON-LIFE (IARD) BRANCH DATA OF THE IVORIAN MARKET

(Evolution from 2013 to 2020, amounts in millions of FCFA)

Items		2013	2014	2015	2016	2017	2018	2019	2020
Net Premiums Written (Revenue)		133,424	139,861	161,843	175,414	184,737	205,465	223,698	231,006
Net Financial Income		5,885	7,002	7,208	6,669	7,925	7,450	13,708	7,441
Commissions Received		4,962	5,585	5,757	4,746	6,062	6,845	8,025	9,884
Benefits	Claims Paid	51,009	75,552	74,864	73,949	79,702	97,391	112,404	108,683
Benefits	Claims Paid Net of Recourse	54,514	73,101	72,668	70,305	76,347	90,763	108,525	104,089
Premiums Ceded to Reinsurers		35,565	40,699	45,314	45,100	48,703	48,660	57,577	64,682
Other Net Charges		33,344	38,560	38,614	37,459	45,420	46,429	48,548	49,947
Commissions Paid		17,542	20,804	23,079	26,640	26,512	29,220	32,025	32,544
Regulated Commitments (ER)	PREC ⁽¹⁾	12,495	15,059	19,347	33,879	24,388	28,487	19,712	25,259
Regulated Commitments (ER)	PSAP⁽²⁾	139,743	149,839	141,544	148,194	170,532	161,845	124,673	173,300

Source: MFB/DGTCP

(1) Provision for Ongoing Risks

(2) Provisions for Claims to be Paid

SYNTHESIS OF LIFE BRANCH DATA OF THE IVORIAN MARKET

(Evolution from 2013 to 2020, amounts in millions of FCFA)

Items		2013	2014	2015	2016	2017	2018	2019	2020
Net Premiums Written (Revenue)		104,548	111,346	119,876	132,774	150,486	155,060	170,258	183,678
Net Financial Income		14,847	17,999	24,119	16,681	24,428	18,841	16,397	19,427
Commissions Received		260	539	723	628	889	862	780	836
Benefits	Due	64,026	74,184	80,773	94,318	97,157	100,109	121,552	112,381
Benefits	including Buybacks	38,626	36,291	42,759	53,404	51,133	57,904	68,465	67,194
Premiums Ceded to Reinsurers		3,861	4,490	4,258	4,748	7,069	4,684	4,315	5,138
Other Net Charges		17,703	21,405	23,553	24,017	25,168	26,901	29,119	30,469
Commissions Paid		6,178	7,512	8,135	8,658	9,621	9,860	10,962	12,858
Regulated Commitments (ER)	Math. Prov.	332,808	362,986	393,746	444,023	475,122	527,616	530,042	630,199
Regulated Commitments (ER)	Other Commitments	52,357	54,804	57,118	72,667	56,910	40,833	102,789	68,853

Source: MFB/DGTCP

Synthesis of Ivorian Market Data (in millions of FCFA)

Items	2013	2014	2015	2016	2017	2018	2019	2020
Net Premiums Written (Revenue)	237,972	251,207	281,719	308,188	335,223	360,525	393,956	414,685
Net Financial Income	20,732	25,000	31,327	23,350	32,352	26,291	30,105	26,868
Commissions Received	5,222	6,124	6,480	5,374	6,951	7,707	8,805	10,720
Benefits	208,176	259,128	271,064	291,975	304,339	346,167	410,945	392,347
Premiums Ceded to Reinsurers	39,427	45,190	49,572	49,848	55,772	53,344	61,892	69,819
Other Net Charges	51,047	59,965	62,167	61,476	70,588	73,330	77,666	80,415
Commissions Paid	23,720	28,316	31,214	35,298	36,132	39,080	42,987	45,402
Regulated Commitments (ER)	537,403	582,688	611,754	698,764	726,951	758,781	777,217	897,611
Cumulative Investments	549,960	588,310	624,440	705,181	757,090	803,881	897,395	963,606
Securities	249,427	267,211	281,876	307,464	338,187	371,117	401,053	481,404
Real Estate Rights	93,496	90,767	88,058	102,991	107,708	112,147	108,622	116,994
Bank Deposits	153,310	181,221	200,211	242,400	234,209	239,841	271,767	282,350
Other Admissible Assets	53,727	49,110	54,294	52,326	76,985	80,776	115,952	82,858
ER Coverage Rate	102%	101%	102%	101%	104%	106%	115%	107%
Number of Companies (1)	29	29	27	31	31	33	33	33

Source: MFB/DGTCP

(1) This refers to companies that have reported their figures; the number of companies does not account for those that have not closed their first financial year by December 31 of the inventory year.

Designation	Download
Evolution of Synthetic Balances
Evolution of Items by Non-Life Branches
Evolution of Items by Life Branches
Evolution of Revenue
Synthesis of Market Data 2020

SAVOIR +

Contactez-nous :

Accès rapide

LIEN UTILES