Country Dashboards

Population
2 mn
2016
GDP (USD)
$1 bn
2016
gdp/capita
$642
2016
Inflation rate
2.6%
2016

Insurance Premiums

Total Premiums
Insurance market data
Life premium volume (USD) 0
Non-life premium volume (USD) 0
Total premium volume 0
Total premium volume (XOF) 0
Insurance penetration: Premiums in % of GDP 0.00%
Insurance density: Premium / capita USD 0
Local currency XOF
Market Composition
Domestic life insurers
Domestic non-life insurers 1
Domestic composite insurers 1
Foreign life insurers
Foreign non-life insurers 1
Foreign composite insurers 1
Domestic reinsurers
Foreign reinsurers
State-owned insurers
State-owned reinsurers
Insurance intermediaries
Reinsurance intermediaries
Insurance Regulatory Authority
Institution
Commission Régionale de Contrôle des Assurances (CRCA) BP 2750 Libreville, Gabon

Regulatory Provisions

Scope of insurance regulation and supervision
Overarching principle in insurance supervision Material supervision
Requirement for minimum insurance rates Yes
Cross-border insurance allowed Yes
Licensing
Bancassurance is allowed Yes
Allowed ownership structures Stock Companies, Mutuals
Foreign ownership restrictions No
Minimum capital requirement XOF 1bn
Minimum paid-up share capital XOF 750mn
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 No
Compulsory insurance lines Motor TPL, Cargo Import, WC
Compulsory reinsurance cessions Yes
Insurance companies in difficulties
Established guarantee or policyholder protection fund No
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