The Insurance Regulatory and Control Authority (ARCA) granted four approvals to companies wishing to carry on an insurance business in the Democratic Republic of Congo (DRC).
These authorizations comply with the provisions of the new Insurance Code and the ARCA regulation. They involve three non-life insurance companies and one life insurance company. The supervisory authority has also issued approvals to two insurance brokerage firms.
The companies approved are : Rawsur life and Rawsur DRC, subsidiaries of the Congolese bank Rawbank, Activa Assurance DRC, a subsidiary of the Cameroonian group ACTIVA and the Société Financière d'Assurance du Congo (SFA). The two-brokerage firms authorized to operate are Gras Savoye DRC and Allied Insurance Brokers (AIB).
The local insurance market achieves annual sales of around 80 million USD in premiums. With an estimated penetration rate of less than 0.5%, the DRC holds many business opportunities for investors.
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