The president of the Association des Sociétés d'Assurances du Bénin (ASB-Benin) has announced that the sector reported a turnover of 20 billion FCFA (36.1 million USD) in 2005, 80% of which is accounted for the property class of business.
Made up of about twenty companies, Benin's insurance market is ranking in the fifth position of the CIMA zone which gathers 24 member states.