Traffic accidents result in nearly CFA74bn ($122m) per year in Senegal in economic costs, or 1 to 2% of GDP, the executive director of the Association pf Insurers of Senegal (AAS), Mr Matar Faye, has said.
He revealed that the insurance industry paid more than CFA13bn in compensation each year, when its annual turnover is around CFA175bn.
"Unfortunately, we see that accidents continue to occur. And just over 600 deaths are reported each year," he said.
He said that automobile insurance represents around 20% of the total volume of the insurance market, while more than 50% of claims are the direct consequences of traffic accidents.
In Senegal, more than 4,000 traffic accidents are reported each year.