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Mali

Mali

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Mali Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Mali includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Mali can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Global Statistics Regulatory Alerts Market Profiles Insight Compliance Compliance Point Clinical Trials Axco API Insight Risk Manager

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
Total GWP (USD)
Insurance Penetration (%)
GMT +0
Bamako
XOF
20.86 mn
3.20
0.08%
86.19
0.5

Mali is a small non-life market with a low level of insurance penetration at 0.32% of GDP, well below some of the more dynamic economies in the CIMA zone markets. Although the market has generally recorded steady year-on-year growth in written premium, a significant expansion of the market has been hindered factors including a lack of a culture of purchasing insurance.

After downward revisions to GDP in the first months of the pandemic, external sources' projections for annual growth in 2020 ranged between 1.5% and a contraction of 1.1% for the year.

The non-life market (including personal accident and healthcare) grew by 2.97% in 2018, with personal accident and healthcare up by nearly 19% year on year. There were nine non-life and three life companies were operating in Mali. Insurance is sold mainly through brokers or general agents.

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