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June 21, 2022updated 28 Jun 2022 12:08pm

The five leading general insurance companies in Cameroon in 2020

By Carmen

The Cameroon general insurance market witnessed decline at a compound annual growth rate (CAGR) of 2.2% from $0.2bn in 2015 to $0.2bn in 2020.

As per the data, the leading companies occupied 54.1% of Cameroon’s total general insurance market.

1. AXA Assurances Cameroun

AXA Assurances Cameroun ranked number one in the country, reporting a decline of 0.8% compared with the previous year’s premium. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

2. Activa Insurance

Ranking number two in Cameroon’s general insurance market was Activa Insurance. The company registered a 9.2% decline compared with the premium in 2019. Among the leading general insurance companies, its position remained unchanged when compared with its previous years ranking.

3. Chanas Assurances

Chanas Assurances ranked number three in Cameroon’s general insurance market. Compared with previous year’s premium, the company registered a growth 15.9%. Its ranking among the leading general insurance companies in the previous year was five, which now improved to number three.

4. Societe africaine d’assurances et de reassurances ( Cameroon)

Societe africaine d’assurances et de reassurances ( Cameroon), which ranked number four in Cameroon’s general insurance market, registered a 17.8% decline compared with last year’s premium. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

5. Allianz Cameroon Insurance

Allianz Cameroon Insurance ranked number five in Cameroon’s general insurance market. The company registered a decline of 20.9% compared with last year’s premium. From number three position in the previous year, the company’s ranking among the leading general insurance slipped to number five.

Methodology

This analysis is drawn from GlobalData’s Company LoB Breakdowns Database, which tracks key insurance metrics across segments, categories, and line of businesses for more than 150 markets, globally. The data is sourced from regulatory authority/industry association/company SFCR. This data is mapped to segments and categories as per our standard Industry Native Taxonomy Structure. The calculations are based on premiums standardised by the following order of preference Gross Written Premiums > Direct Written Premiums > Net Earned Premiums > Net Written Premiums. Verdict’s parent company GlobalData provides business information to 4,000 of the world’s largest companies.

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