Benin insurance industry: 2000-2004

Benin

Benin insurance industry features

  • Regulatory Authority: Ministry of Finances and Economy
  • Premiums (2004): 38.5 million USD
  • Insurance density (2004): 5.6 USD
  • Penetration rate (2004): 0.9%

Benin insurance industry: structure in 2004

Actors
Number
Non-Life Companies
5
Life Companies
3
Brokers
8
General Agents
39

Identity

  • Area: 112 600 Km2
  • Population (2004): 6 900 000 inhabitants
  • GDP (2004): 4.1 billion USD
  • GDP per capita (2004): 5 143 USD
  • GDP Growth rate (2003): 2.7%
  • Inflation rate (2004): 1.4%
  • Main economic sectors: Agriculture (cotton, corn, cassava, yams, beans, peanuts, palm oil, livestock), food processing, textile industry

Major towns

(in number of inhabitants)

  • Cotonou: 750 000
  • Porto-Novo (capital): 200 000
  • Djougou: 134 000
  • Parakou: 104 000
 

Benin insurance industry: turnover evolution (2000-2004)

in thousands USD
 20002001200220032004
Life
3 1483 4413 9074 5215 635
Non life
13 00317 49122 89126 68432 867
Total
16 151 20 932 26 798 31 205 38 502
Benin insurance industry turnover evolution

Benin insurance industry: premiums split by class of business (2001-2004)

in thousands USD
 2001200220032004
Non Life
Health & General accidents
1 8132 8113 5055 559
Motor
12 05015 28316 97319 577
Fire & Property damages
1 2502 1362 9664 129
TPL
5114611 0061 088
Marine
1 1821 3171 4901 858
Miscellaneous
648677704456
Acceptances
3720640160
Total Non life
17 491 22 891 26 684 32 867
Life
Life
3 441 3 907 4 521 5 635
Grand total
20 93226 79831 20538 502

Benin insurance industry premiums

Non-life company's premiums split by class of business: 2002-2003

in thousands USD
 AGF
Bénin Assurances
L'Africaine des AssurancesFédérale des AssurancesLa Générale des AssurancesNouvelle Société
des Assurances
 2002200320022003200220032002200320022003
Health & General Acc.
11.4640.19783.451 120.66193.25252.2313.4533.901 809.472 057.76
Motor
581.49429.745 621.396 008.583 551.183 434.653 663.364 697.331 865.092 402.40
Fire & Property Damages
557.69934.61816.25918.2538.9569.9322.6544.40873.491 147.26
TPL
112.54201.3016.84188.0199.15239.04112.94254.05119.68123.79
Marine
180.56231.37652.55727.7190.93115.7958.3463.96334.91351.87
Miscellaneous
91.51185.02324.24291.7575.3456.3612.9121.930.000.00
Acceptances
0.000.0019.8641.720.003.780.000.00186.20-5.72
Non life total
1 535.25 2 022.23 8 234.58 9 296.68 4 048.80 4 171.79 3 883.65 5 115.57 5 188.84 6 077.36

Benin insurance industry: Life company's premiums split by company 2002-2003

in thousands USD
Life premiums20022003
Assurance et Réassurance du Golfe de Guinée
581.49429.74
L'Africaine des Assurances
5 621.396 008.58
Fédérale des Assurances
3 551.183 434.65
Exchange rate
USD/XOF as at 31/12
2000
2001
2002
2003
2004
708.039
743.922
625.497
576.766
481.330
0
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