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 Republic of Congo 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 the Republic of Congo includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
The Republic of the Congo consists of a coastal plain and a central plateau between a southern basin and a northern basin. Much of the country is covered with tropical forest. The River Congo marks a large part of the boundary with the Democratic Republic of the Congo, other borders are Cameroon, the Central African Republic, Angola and Gabon. The climate is tropical, temperatures and humidity are high all the year round. Oil remains the primary engine behind the Congolese economy and accounts for a large percentage of GDP and government revenue.
The non-life insurance market comprises only six companies and two life insurers. Most Congolese are unaware of the benefits of insurance and too poor to regard it as a priority purchase, so penetration is low. The main players in the Congolese life market rely mainly on banks, microfinance institutions and mutuals to distribute policies. Pension and group policies may be sold through brokers, as they may be bought by companies for their employees, although in general brokers have little interest in life business as commissions are very low.