Insurance
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.

Articles from this Chapter

Overview

Securing expansion: Added competition and regulatory overhaul look set to drive future growth
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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 competitors, coupled with regional regulatory changes, are poised to transform what was previously a highly concentrated sector, with a handful of players commanding over 80% of…

Analysis

Gaining ground: Examining the growth and potential of micro-insurance in the country and throughout the continent
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Given that the guiding principle of micro-insurance is the provision of insurance cover for people with low incomes, Africa offers an extensive and very promising market for the industry. In 2011 the World Bank reported that almost half of the continent’s population earned less than $1.25 per day. Micro-insurance has received a lot of attention – and capital – as a result. However, the emergence of micro-insurance services and products has not been even across the continent, varying depending…

Interview

Perception management: Thierry Labbé, Head of Francophone Africa, Gras Savoye Willis Towers Watson, on improving insurance penetration
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Interview: Thierry Labbé Given Côte d’Ivoire’s recent growth, what new trends are visible in insurance? Thierry LABBE: Côte d’Ivoire’s growth spurt in recent years has had several effects on consumer behaviour, and we expect this trend to continue for the foreseeable future. The arrival of large institutions – such as the African Development Bank (AfDB) – has opened up new opportunities for growth. However, the expectations of these players regarding products and services are quite…