Bolstered by the economic rebound since 2012, double-digit growth in Côte d’Ivoire’s insurance sector is attracting new entrants and product innovation. While it is the largest market of the 15-country Inter-African Conference of Insurance Markets, the sector is fragmented for its size. With large-scale public projects expected to generate strong GDP growth in 2014, the priority will be to expand the domestic market’s retention capacity, enhance the domestication of larger risks and improve business conduct to shore up underwriters’ liquidity. Meanwhile, as alternative distribution channels continue to gain traction, the life insurance segment is expected to overtake non-life. Major players and foreign investors are likely to drive consolidation to achieve the scale necessary to boost Côte d’Ivoire’s growth.
This chapter contains an interview with Roger Eugène Johnson Boa, President, Association of Insurance Companies of Côte d’Ivoire.