The Senegalese insurance market has generally held up well in this COVID-dominated environment in 2020. It recorded a slight decline in P&C, from 5% in 2019 to 4% in 2020 and a more marked decline in growth alive, which fell from 13% to 4%.

Despite the health crisis, market growth continued in 2020, rising from 193 billion in 2019 to 204 billion FCFA in 2020. This resilience of the insurance market in the face of COVID is also found in Côte d'Ivoire, the most large CIMA market. Business there grows from 391 to 415 billion FCFA between 2019 and 2020 (+6.1%), as in Senegal, a higher dynamism of life subscriptions (+6.9%) compared to damage premiums (+4%) . The same resilience is not found in Cameroon and is much less marked in Gabon, since, in these two largest Central African markets within the CIMA, premiums increase to 210 and 100 billion CFA francs respectively, in 2019 to 207 and 104 billion CFA francs in 2020, i.e. a decrease of -1.4% in Cameroon and a virtual decline of 4% in Gabon. It is true that these Central African countries have been suffering for some years from an unfavorable situation in the prices of their export products, a situation which has curbed their resources in the face of the new external shock caused by COVID.

This market includes 19 non-life insurance companies including 10 Senegalese and 9 life companies, including 2 Senegalese. Foreign companies, from the point of view of the origin of their capital, together weigh, in terms of turnover, 2/3 of the market in 2020: 64% of non-life business and 70% of life business. They therefore constitute the largest part of a market which is still dominated by non-life insurance, with 63% of premiums.