Gabonese insurance market recorded a 5.8% decline in turnover in the first half of 2020. The latter dropped from 65.1 billion FCFA (112.81 million USD) on 30 June 2019 to 61.3 billion FCFA (105.11 million USD) one year later. Such a decrease is due to the slowdown in investment, the companies’ cash flow problems and the lockdown measures imposed following the health crisis.
Non-life premiums dropped by 6.1% to 51.9 billion FCFA (88.99 million USD). The fire and transport activities recorded declines of 4.1% and 17.6% respectively. Health-assistance premiums increased by 4.3% to reach 14.7 billion FCFA (25.21 million USD). The life and capitalization activity degraded by 3.5% to 9.4 billion FCFA (16.12 million USD). The incurred losses during H1 2020 amounted to 17.7 billion FCFA (30.35 million USD), a decrease of 8.8% over one year.
Non-life premiums dropped by 6.1% to 51.9 billion FCFA (88.99 million USD). The fire and transport activities recorded declines of 4.1% and 17.6% respectively. Health-assistance premiums increased by 4.3% to reach 14.7 billion FCFA (25.21 million USD). The life and capitalization activity degraded by 3.5% to 9.4 billion FCFA (16.12 million USD). The incurred losses during H1 2020 amounted to 17.7 billion FCFA (30.35 million USD), a decrease of 8.8% over one year.