Gathered in general meeting, the insurers took resolutions to develop their sector of activity.

The insurer that doesn't tell a story. The evocation of this new advertisement of the AAA insurance company which has become Leadway by the president of the Asa-Ci (Association of insurance companies of Côte d'Ivoire), Mr. Saliou Bakayoko, Managing Director of Sunu Vie Côte d'Ivoire, sparked general hilarity. Especially when the president of the insurers accompanied him with a mischievous: “does this mean that there are insurers who tell stories? »

The fact is that insurers are well aware of their poor image within the population, which dwells on several grievances against them, including the perpetual default of payment or the late and often staggered payment of premiums during claims, particularly in the automotive industry.

The Director General of Insurance in Côte d'Ivoire, Mr. Karim Diarrassouba who represented the Minister in charge, Adama Koné, Minister of Economy and Finance at the general assembly yesterday at the headquarters of Asa-Ci, in Cocody, made a point of recalling, in its opening remarks, the requirement to respect the texts and the commitments towards the insured weighing on the insurers.

Before rejoicing in the dynamism of this sector which has posted a regular growth rate of 8% for ten years. The turnover of insurance has, in fact, increased from 195 billion F Cfa in 2008 to 360 billion F Cfa as of December 31, 2018.

The 33 insurance companies taken into account in the Asa-Ci report for the financial year ended December 31, 2018 show a turnover of 360.1 billion F Cfa against 329.2 billion in 2017, a corroborated the president of the umbrella organization of insurers, in his presentation of the major market figures.

This represents a growth rate of 9%, he said. Life branches posted 154.6 billion in turnover, while non-life companies totaled 205.6 billion CFA francs.

As highlights of the Ivorian insurance market in 2018, Mr. Saliou Bakayoko mentioned the arrival of a new reinsurer, Hannover Ré, the transformation of AAA vie into Leadway Vie, the lifting of the provisional administration of La Loyale insurance or the withdrawal of the approval of Ogar Assurances.

As part of the ongoing projects, which should broaden the prospects for the development of insurance in Côte d'Ivoire (less than 2% insurance penetration rate in the population), Mr. Bakayoko mentioned the dematerialization of acts , the automation of automobile insurance contracts and the adoption of a three-year strategic plan.