The insurance activity in Côte d'Ivoire is regulated by numerous texts, including:

• the Insurance Code of the member states of the Inter-African Conference on Insurance Markets (CIMA);
• law n°62-232 of June 29, 1962, regulating insurance organizations of all kinds and capitalization, aimed at organizing the insurance profession.

The insurance market is regulated by the Regional Insurance Control Commission (CRCA) at the CIMA level. At the national level, the Directorate of Insurance (Public Treasury) is responsible for monitoring the market, studying the licensing requests of companies, and managing activities related to the insurance sector.

The market includes:

• Insurance companies, following the principle of specialization, are divided between life insurance companies and non-life insurance companies (Fire, Accident, and Miscellaneous Risks (IARD)). Data available up to 2020 indicate that the number of insurance companies is relatively stable, with a total of 33 companies. Among these, 12 specialize in the life branch and 21 in the non-life branch.
• Reinsurance companies, which insure insurance companies, number 11 in the market, including 2 local reinsurers, 2 regional offices of community reinsurers, and 7 offices of foreign reinsurance companies;
• Insurance intermediaries, which are subdivided into brokers, general agents, mandated agents, and agents of banks and financial institutions, totaled 121 brokerage firms, 8 reinsurance companies, and 12 health fund managers by the end of 2020.

• Specific insurance organizations (5), namely:
• The Automobile Guarantee Fund (FGA);
• The co-insurance pool for civil liability of motor vehicles in the public transport of passengers (Pool TPV);
• The brown card, a system for managing cross-border claims in ECOWAS;
• The Professional Training Center for Insurance (CPFA);
• The Insurance Mediation.

• Professional associations (3):
• The Association of Insurance Companies of Côte d'Ivoire (ASA-CI);
• The National Association of Insurance and Reinsurance Brokers of Côte d'Ivoire (ANCARCI);
• The Federation of National African Law Insurance Companies (FANAF).

Evolution of Life and Non-Life Insurance Companies

Source: MFB/DGTCP