From The Report: Cote d'Ivoire 2017
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The insurance sector in Côte d’Ivoire has been posting solid growth figures for years. The pickup in the country’s economy after 2012 has made the sector increasingly attractive, prompting the arrival of new competitors aiming to establish a foothold in West Africa’s biggest insurance market. The influx of foreign players, coupled with regional regulatory changes, are poised to transform what was previously a highly concentrated sector ¬– a handful of operators command over 80% of the annual volume of premiums – with a large number of providers, including many small and undercapitalised insurers, still competing fiercely for market share. Positive economic developments will continue to drive insurance growth, while recently implemented regulatory changes are sure to lead to market consolidation over the coming years. This chapter contains an interview with Thierry Labbé, Head of Francophone Africa, Gras Savoye Willis Towers Watson.