Chad

Axco provides details on the life insurance sector including Chad market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Chad, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Chad pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Chad report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Chad is one of the smallest life insurance markets in the CIMA zone with insurance penetration well behind that of other countries in the region and expenditure at only 0.01% of GDP. It has just one life insurance company, operating since 2010, created by the former state-owned non-life insurer to comply with the CIMA Code, which introduced a separation of non-life and life activities.

The market has suffered from political instability and recent economic austerity. The wealth it has generated from its oil ....

A small amount of savings business acting as a form of private pension provision is written in Chad. In 2018 this was group savings business designed to provide a form of pension or group endowment business geared towards the provision of money for dependants if the employee died before retirement or cover designed to provide some money when the employee retired (indemnite de fin de carriere - IFC).

A very small amount of individual savings business was also written, so this may have been designed to act as a form of pension.

Chad has a very small healthcare insurance market reflecting the limited supply (only two insurers were operating in 2018), recent economic austerity and the overall poverty of the bulk of the population.

There has been no universal healthcare in the country to date although the government has been in the process of passing the legislation to introduce it. This was scheduled for 2020 but given the impact the COVID-19 pandemic is likely to have on government revenue it is not clear this target ....