Country Dashboards

Population
993000
2016
GDP (USD)
US$2 bn
2016
gdp/capita
US$1,907
2016
Inflation rate
3.0%
2016

Insurance Premiums

Total Premiums
Insurance market data
Life premium volume (USD) 613,789
Non-life premium volume (USD) 13 mn
Total premium volume 14 mn
Total premium volume (DJF) 2 bn
Insurance penetration: Premiums in % of GDP 1.25%
Insurance density: Premium / capita USD 16.3
Local currency DJF
Market Composition
Domestic life insurers
Domestic non-life insurers
Domestic composite insurers 2
Foreign life insurers
Foreign non-life insurers
Foreign composite insurers
Domestic reinsurers
Foreign reinsurers
State-owned insurers
State-owned reinsurers
Insurance intermediaries
Reinsurance intermediaries
Insurance Regulatory Authority
Institution
Contrôle des Assurances, Immeuble Sarian, Heron BP 1496 Djibouti

Regulatory Provisions

Scope of insurance regulation and supervision
Overarching principle in insurance supervision Financial supervision
Requirement for minimum insurance rates Yes
Cross-border insurance allowed International lines only
Licensing
Bancassurance is allowed No
Allowed ownership structures Stock Companies, Mutuals
Foreign ownership restrictions No
Minimum capital requirement DJF 100mn
Minimum paid-up share capital DJF 50mn
Requirement for independent audits Yes
Requirement to appoint actuaries No
Premium rate approval needed Yes
On-Going Supervision
Solvency referred to as the difference between assets and liabilities No
RBC (Risk-based capital) principles applied No
Ceded reinsurance is regarded as a permissible asset unknown
Compulsory insurance lines Motor TPL, Cargo Import
Compulsory reinsurance cessions No
Insurance companies in difficulties
Established guarantee or policyholder protection fund unknown
The Africa Re office that supports this location is: