Côte d’Ivoire Insurance Industry – Key Trends and Opportunities to 2027
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Côte d’Ivoire Insurance Market Report Overview
The direct written premium of the Côte d’Ivoire insurance market was XOF505.7 billion ($811.8 million) in 2022. The market is expected to achieve a CAGR of more than 7% during 2023-2027. The economy is expected to grow in 2023, due to an increase in coffee, palm oil, and cocoa exports. Côte d’Ivoire has offshore oil and natural gas reserves, the exploration of which, will help to strengthen the economy and propel the market growth.
Côte d’Ivoire Insurance Market Outlook, 2022-2027 (XOF Billion)
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The Côte d’Ivoire insurance market research report provides in-depth market analysis, information, and insights into the Côte d’Ivoire insurance industry. It provides values for key performance indicators such as direct written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period.
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Côte d’Ivoire economy and demographics, and provides detailed information on the competitive landscape in the country. The report gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Market Size (2022) | XOF505.7 billion ($811.8 million) (DWP) |
CAGR (2023-2027) | >7% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Segments | · Life Insurance
· General Insurance |
Leading Players | · Sunu Assurances Vie Cote D’Ivoire
· Sanlam Assurance Cote D’Ivoire · Nsia Vie Cote D’Ivoire · Allianz · Saham · Wafa · Others |
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Côte d’Ivoire Insurance Market Trends
Health insurance and insurtech are some of the key trends impacting the Côte d’Ivoire insurance market. Most people do not have access to healthcare due to the ill-equipped nature of hospitals and the lack of insurance in the country. So, Susu has developed a package for patients suffering from chronic diseases like diabetes and hypertension.
Côte d’Ivoire Insurance Market by Segments
The key segments in the Côte d’Ivoire insurance market are life insurance and general insurance. The general insurance segment dominated the market in 2022.
Life Insurance: The penetration of the life insurance rate remained relatively low during 2022. This was much lower compared to other emerging and developed markets.
General Insurance: The sector is expected to grow during the forecast period. Motor insurance was the largest line of business in 2022. Growth can be attributed to motor third-party liability, which accounted for more than half of the share of total motor insurance policies.
Côte d’Ivoire Insurance Market Analysis by Segments, 2022 (%)
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Côte d’Ivoire Insurance Market – Competitive Landscape
The key companies in the Côte d’Ivoire insurance market are Sunu Assurances Vie Cote D’Ivoire, Sanlam Assurance Cote D’Ivoire, Nsia Vie Cote D’Ivoire, Allianz, Saham, Wafa, and others. Sunu Assurances Vie Cote D’Ivoire was the largest insurer in 2021.
Côte d’Ivoire Insurance Market Analysis by Players, 2021 (%)
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Segments Covered in the Report
Côte d’Ivoire Insurance Market Segments Outlook (Value, XOF Billion, 2018-2027)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Côte d’Ivoire insurance industry –
- It provides historical values for the Côte d’Ivoire insurance industry for the report’s 2018–22 review period and projected figures for the 2023–27 forecast period.
- It offers a detailed analysis of the key categories in the Côte d’Ivoire insurance industry and market forecasts for 2027.
- It profiles the top life insurance companies in Côte d’Ivoire and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Côte d’Ivoire insurance industry.
- A comprehensive overview of the Côte d’Ivoire economy, government initiatives, and investment opportunities.
- The Côte d’Ivoire insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Côte d’Ivoire insurance industry’s market structure gives details of lines of business.
- Côte d’Ivoire’s reinsurance business’s market structure gives details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Côte d’Ivoire insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Côte d’Ivoire insurance industry.
- Assess the competitive dynamics in the Côte d’Ivoire insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Saham Assurance Vie (Ivory Coast)
Allianz Cote D'Ivoire Assurances
Sunu Assurances Vie Cote D'Ivoire
Nsia Vie Cote D'Ivoire
Sunu Assurances IARD (Ivory Coast)
Allianz Cote D'Ivoire Assurances Vie
Nouvelle Societe Interafricaine D'Assurances (Ivory Coast)
Table of Contents
Frequently asked questions
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What was the Côte d’Ivoire insurance market direct written premium in 2022?
The direct written premium of the Côte d’Ivoire insurance market was XOF505.7 billion ($811.8 million) in 2022.
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What is the growth rate of the Côte d’Ivoire insurance market?
The insurance market in Côte d’Ivoire is expected to achieve a CAGR of more than 7% during 2023-2027.
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Which segment dominated the Côte d’Ivoire insurance market in 2022?
The general insurance segment dominated the Côte d’Ivoire insurance market in 2022.
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Who are the major players operating in the Côte d’Ivoire insurance market?
The key companies in the Côte d’Ivoire insurance market are Sunu Assurances Vie Cote D’Ivoire, Sanlam Assurance Cote D’Ivoire, Nsia Vie Cote D’Ivoire, Allianz, Saham, Wafa, and others.
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