OGAR Group

Well-established in the local economy, the companies OGAR and OGARVIE are ranking high in the Gabonese market where they control over 45% of the written premiums. It is the second insurance company in the CIMA zone behind COLINA (Côte d'Ivoire).

Mr. Edouard-Pierre Valentin

General Manager and Director

OGAR owes its success to a man, Edouard-Pierre Valentin who has been running the company for three decades.

Through the years, OGAR has earned itself an expertise and a know-how that allowed it to ensure a high-quality service to its customers.

In a country where the oil industry dominates the scene, OGAR's role is not restricted to the underwriting of domestic home owners' insurance. The company also takes part in the management and in the prevention of industrial risks.

Since the disappearance of SOCAR in the Cameroon and the problems of SONAS in Congo, OGAR has emerged as the only insurer with national capital to have made it in Central Africa.

While some African groups are developing on external growth, OGAR remains focused on the local market. Never has this cautious stance prevented the company from prospering. OGAR has an efficient management and financial capacities that enable it to grow legitimately ambitious.

OGAR Group Turnover split by class of business: 2002-2006

in USD

Written premiums	2002	%	2003	%	2004	%	2005	%	2006	%
Motor	4 489 722	14	5 600 253	14	7 520 653	18	6 209 261	16	8 086 121	16
Property & misc. accident	8 830 198	27	11 608 935	29	12 511 443	30	11 986 634	31	14 033 305	29
Marine	15 381 337	46	16 474 142	42	15 963 331	38	15 021 118	38	17 389 422	36
Life	4 403 452	13	5 714 139	15	5 895 604	14	5 884 184	15	9 243 374	19
Total	33 104 709	100	39 397 469	100	41 891 031	100	39 101 197	100	48 752 222	100

OGAR Group, Premiums split by class of business in 2006

OGAR Group, Key financial highlights: 2002-2006

in USD

	2002	2003	2004	2005	2006
Gross written premiums	33 104 709	39 397 469	41 891 031	39 101 197	48 752 222
Written premiums net of reinsurance	14 207 826	17 217 090	17 832 914	19 131 454	25 518 075
Gross earned premiums	33 361 626	39 222 326	42 253 008	39 189 337	47 801 456
Gross incurred losses	12 924 363	11 178 608	11 729 062	12 853 207	15 119 516
Net incurred losses	10 750 904	10 049 283	9 940 913	11 014 588	12 708 512
Loss ratio*	39%	29%	28%	33%	32%
Overhead expenses	4 062 137	5 421 206	6 054 440	6 335 885	2 201 867
Technical result	12 924 423	18 111 761	18 953 069	14 971 418	18 630 285
Financial revenues	1 994 386	2 097 825	2 387 485	1 883 725	1 673 869
Net result after tax	483 423	358 064	1 046 695	1 494 904	2 201 906

* Loss ratio: Gross incurred losses / Gross earned premiums in millions USD

OGAR Group, Loss ratio: 2002-2006

Exchange rate XAF/USD as at 31/12	2002	2003	2004	2005	2006
	0.001529	0.001832	0.001996	0.001802	0.001934

Thanks: We thank OGAR Group for their kind assistance in the conception of this survey