Here is the translation of the provided text into English:
  • The insurance market in Côte d'Ivoire is experiencing significant growth. The revenue, which has been steadily increasing, reached 526.035 billion FCFA in 2022. This revenue was 359.56 billion FCFA in 2018.
  • The claims, benefits, and provisions are also following the same upward trend. In 2022, the benefits paid to customers amounted to 325.348 billion FCFA compared to 229.8 billion FCFA in 2018.
  • The loss ratio, which is the ratio of claims to premiums collected, stands at 61.8% in the insurance sector in 2022. This indicates good profitability, which is a guarantee of the solvency of insurance companies.

 

 

Evolution of Life Insurance Activity

 Life Insurance 2018 2019 2020 2021 2022
Premiums 155 141 168 761 183 678 205 905 224 413
Claims, benefits & provisions 134 047 142 804 151 619 171 438 183 836
Loss Ratio (%) 86.4 84.6 82.5 83.3 81.9
Investments 598 670 655 769 736 273 788 595 861 461
Net Investment Income 18 343 16 679 19 427 20 423 26 561
Commissions 10 134 10 971 12 858 15 072 16 979

 

Evolution of Insurance Companies' Activity (in millions of FCFA)

 Insurance Companies 2018 2019 2020 2021 2022
Premiums 359 557 394 048 413 057 457 083 526 035
Claims, benefits and provisions 229 800 251 175 268 626 285 968 325 348
Investments 779 707 862 981 951 857 1 015 511 1 095 143
Net Income from Investments 25 548 24 733 26 868 28 460 35 524
Commissions 39 800 44 457 45 402 49 812 60 622
Loss Ratio (%) 63.9 63.7 65.0 62.6 61.8

Source : Reports from the CRCA

 

Evolution of Non-life Insurance

 Non-life Insurance 2018 2019 2020 2021 2022
Premiums 204 416 225 287 229 379 251 178 301 622
Claims 95 753 108 371 117 007 114 530 141 512
Loss Ratio (%) 47.3 49.3 51.4 46.0 47.6
Investments 181 037 207 212 215 584 226 916 233 682
Net Income from Investments 7 205 8 054 7 441 8 037 8 963
Commissions 29 666 33 486 32 544 34 740 43 643

Source : Reports from the CRCA