According to the data published by the Gabonese Federation of Insurance Companies (FEGASA) in 2020, the Gabonese market recorded a 2.63% turnover increase. The posted premiums went from 101.4 billion FCFA (173.11 million USD) on 31 December 2019 to 104.1 billion FCFA (194.92 million USD) a year later.
With 78.56% of the market share, non-life premiums are increasing by 1.52% and currently stand at 81.8 billion FCFA (153.17 million USD). Life and capitalization underwriting is growing by 6.91% to reach 22.3 billion FCFA (41.76 million USD) as at 31 December 2020. They represent 21.44% of the total written premiums in Gabon during the past year.
The company-based ranking makes Assinco the Gabonese insurance market [4] leader with a 20.8 billion FCFA (38.95 million USD) turnover in 2020.
SAHAM Assurance Gabon and OGAR come in second and third positions with respectively 18.5 billion FCFA (34.64 million USD) and 13.4 billion FCFA (25.09énbsp;million USD) in written premiums.