Quantcast
Home Country Coverage Senegal

Senegal

Senegal

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 Senegal 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 Senegal includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

Key Benefits

Available Products

Information for Senegal 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 (%)
latest GWP
Insurance Penetration (%)
GMT +0
Dakar
XOF
17.20 mn
6.50
2.08%
331.53 (mn)
1.27

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 non-life market generated premium income of XOF 122.33bn (including personal accident and healthcare) in 2019 based on provisional figures from the insurers' association. There were 19 non-life insurers operating in this market in 2020.

Ready to talk? We're here to help.

Whether you need more information or to discuss which products are best suited to your needs, our dedicated team are here to help.

Get in touch
Get a free trial