Sector Focus: Assurance & Insurance

The Beninese insurance market, deregulated in 1998, is very competitive with seven life insurers for FCFA 10 billion and seven property and casualty insurers for FCFA 26 billion, of which NSIA and Africaine des Assurances represent 57% of market share.

With growing investment in Benin and the West African region as a trading and commercial hub, the finance and insurance sector is growing tremendously. Companies needing insurance cover, financial services have led to the increased market demand for financial services. There is a huge untapped Insurance market in Benin.