The 27 insurance companies (life and non-life) operating in Cameroon paid a total of 125.32 billion FCFA in benefits and claims expenses as of December 31, 2023.

Data published by the Association of Insurance Companies of Cameroon (ASAC) reveals an increase of 13.07% year-on-year. In reality, the 2022 payment was 110.83 billion. Indeed, benefits paid in the non-life segment grew by 15.33%, reaching 71.81 billion FCFA in 2023 against 62.26 billion in 2022. Premiums paid on the life market increased by 10.17%, reaching 53.51 billion CFA francs in 2023, compared to 48.57 billion in 2022. Likewise, the claim burden in the non-life segment increased significantly, from 61.87 billion CFA francs in 2022 to 79.68 billion in 2023

In addition, the burden of benefits in the life and capitalization segment decreased slightly, reaching 65.10 billion FCFA in 2023, compared to 65.87 billion in 2022.