The good business of the Insurance market continues in Gabon. The turnover of the sector reached 64.230 billion FCFA during the first quarter of 2021, against 62.011 billion FCFA compared to the same period last year.

The insurance sector recorded a growth rate of 3.58%. According to the Gabonese Federation of Insurance Companies (Fegasa), the Gabonese insurance market ended its first quarter of 2021 on a note of satisfaction, with an increase in turnover of just over 2.200 billion FCFA, by compared to the same period of the 2020 financial year. This performance observed in 2020 and confirmed as of June 30, 2021, demonstrates the resilience of this sector in an environment marked by the stigma of the health crisis linked to the Covid-19 pandemic. 19. With an overall turnover established at 64.230 billion FCFA, of which 64% is contributed by insurance intermediaries and 36% for direct offices, the Property Damage and Liability (LIARD) branch represents 81.06%, while the life branch, 18.94%.

In Life Insurance, the increase in turnover amounted to 12.162 billion FCFA against 9.811 billion FCFA a year earlier. Property damage and liability insurance (IARD), despite a drop of 0.25%, stood at 52.068 billion FCFA against 52.200 billion FCFA in the same period last year. The insurance market in Gabon is highly competitive with the presence of 12 companies, including 4 in the life branch, 7 in the life segment and 1 reinsurer.