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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Senegalese non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Senegal's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Senegal non-life (P&C) market as well as trends by line of business. Axco analysts also report on Senegal's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Senegal's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Senegal, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Senegal, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Senegal with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Senegal is the third largest non-life insurance market in the CIMA zone (behind Ivory Coast and Cameroon). Although it is still relatively under-developed compared with a larger market like South Africa, it has a higher per capita spend than the two leading CIMA markets at 0.62% of GDP in 2018. The market has benefited recently from political stability and from investment in infrastructure to support delivery of the country's strategic development plan (Plan Senegal Emergent - PSE).
The country has important energy and mining risks which have traditionally ....
This is a brief extract of information; more updated information may be available in the latest published report.
