Country Dashboards

5 mn
US$3 bn
Inflation rate

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 (LRD) 0
Insurance penetration: Premiums in % of GDP 0.00%
Insurance density: Premium / capita USD 0
Local currency LRD
Market Composition
Domestic life insurers 1
Domestic non-life insurers 3
Domestic composite insurers 10
Foreign life insurers 0
Foreign non-life insurers 0
Foreign composite insurers 0
Domestic reinsurers 1
Foreign reinsurers 0
State-owned insurers 0
State-owned reinsurers 0
Insurance intermediaries 2
Reinsurance intermediaries 1
Insurance Regulatory Authority
CBL Headquarters, Ashmun & Lynch Streets,Monrovia, Liberia

Regulatory Provisions

Scope of insurance regulation and supervision
Overarching principle in insurance supervision Financial supervision
Requirement for minimum insurance rates No
Cross-border insurance allowed Yes
Bancassurance is allowed Yes
Allowed ownership structures Stock Companies, Mutuals
Foreign ownership restrictions No
Minimum capital requirement Non-Life: $1.5mn Life: $750,000
Minimum paid-up share capital 0
Requirement for independent audits No
Requirement to appoint actuaries Yes
Premium rate approval needed No
On-Going Supervision
Solvency referred to as the difference between assets and liabilities Yes
RBC (Risk-based capital) principles applied Yes
Ceded reinsurance is regarded as a permissible asset Yes
Compulsory insurance lines 0
Compulsory reinsurance cessions Yes
Insurance companies in difficulties
Established guarantee or policyholder protection fund No
The Africa Re office that supports this location is: