News Africa18 Nov 2019

Ivory Coast:Insurance sector sees flat growth in 1H

18 Nov 2019

The Ivory Coast insurance sector generated more than FCFA88bn ($148m) in revenue in the first half of the year, according to data from the General Directorate of the Treasury.

This turnover represented a marginal increase of 0.14% compared to the first half of 2018.

Of the total premium in 1H2019, 51.1%, or FCFA45bn, was generated by life insurance business. Non-life business posted premiums of FCFA43bn or 48.9% of the total, according to local media reports citing the Treasury data.

The life branch experienced a decline of 4.5% against a rise of 5.5% for the non-life business in the first six months of this year, compared to the corresponding period last year.

Brokers helped the 34 insurance companies in the industry to produce premiums estimated at FCFA27.2bn in the first half of 2019, representing a share of 30.9% of the total turnover of insurance companies.


 

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