AISL Executive Summary
Cameroon affiche un score AISL ajusté de 28.3/100, classé « hautement restrictif ». En 2024, le marché assurantiel local représentait 457 millions $ (0.9% de pénétration du PIB). Le principal frein réglementaire à l'entrée est la cession légale obligatoire (CICA-RE 20% + Africa Re 5% (base CIMA)).
Summary written from verified AISL data, not an opinion, a starting point for analysis.
Economy
Capital
Yaoundé
Population
Not documented
GDP
$53.3 B
Currency
XAF
Insurance market
Market size
$457 M
Penetration
0.9%
Density / capita
Not documented
Growth (GDP proxy)
Not documented
Regulatory framework
Regulatory openness
Highly RestrictiveCompulsory cession
Yes
CICA-RE 20% + Africa Re 5% (base CIMA)
Active friction mechanisms
1 / 7
Reference year
2024
AISL Score
Base score
31.7
Adjusted score (friction)
28.3
Regulatory access
86/100
Methodology breakdown
AISL recommendation: WAIT / DATA REVIEW (score V2 provisoire)
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Similar markets
Structurally close profiles to Cameroon, computed on market size, growth, sector structure, environment and founder judgment.
Market (2024)
Vie : 34%
$154.7M
Non-vie : 66%
$302.6M
Total : $457.3M
Total premiums
$457.3M
Penetration
0.9%
Density / capita
Not documented
Growth
—
Number of insurers
—
International comparison
This market is -86% versus the OECD average (6.2% of GDP, 2024) and -84% versus the average across all reporting jurisdictions (5.4%, 2024).
Source: OECD, Global Insurance Market Trends 2025. These averages cover jurisdictions reporting to the OECD, not an exhaustive global sample.
Source: Atlas Magazine - African Insurance Market 2024
Macroeconomic context (2024)
GDP
$53.3 B
GDP growth
—
Population
—
Inflation
—
Currency
XAF
Source: IMF WEO DataMapper API
Regulatory mechanisms
CICA-RE 20% + Africa Re 5% (base CIMA)
Source: AISL Score V2 (methodologie transparente) + GRF Trade Barriers Table (base CIMA) + Atlas Magazine + Banque mondiale
What this market requires at entry
1 active regulatory mechanism on this market, with what each one concretely means for entering Cameroon.
"What If" Simulator
Each active friction mechanism removes 3.4 points from this market's score (base score: 31.7, before regulatory friction). Uncheck a mechanism below to simulate its removal and see how many points this market would regain — using the exact AISL scoring formula.
Simulated score
28.3
1 mechanism active (1 × 3.4 = −3.4 pts)
Market players
21 companies, 2024 premiums in USD millions
Market concentration
ConcentratedHHI 79212
Leader: Allianz Via (18.7%) — 21 companies
HHI = Herfindahl-Hirschman Index, a standard market concentration measure (sum of squared shares). <1500 = competitive, 1500-2500 = moderately concentrated, >2500 = concentrated.
Segment Life (5 companies)
| Company | 2024 premiums (M$) | Market share | Change | 2025(estimated) | 2026(estimated) | 2027(estimated) | 2028(estimated) |
|---|---|---|---|---|---|---|---|
| Prudential Benef Life | 38.0 | 8.1% | +0.0% | 39.0 | 40.1 | 41.2 | 42.3 |
| Wafa Assurances Vie | 16.0 | 3.4% | +0.2% | 19.7 | 24.2 | 29.8 | 36.7 |
| Activa-Vie | 15.0 | 3.2% | +0.0% | 15.0 | 15.0 | 15.0 | 15.0 |
| Saar Vie | 10.0 | 2.1% | +0.0% | 10.3 | 10.6 | 11.0 | 11.3 |
| Acam Vie | 6.1 | 1.3% | +0.4% | 8.3 | 11.2 | 15.2 | 20.6 |
Segment Non-Life (16 companies)
| Company | 2024 premiums (M$) | Market share | Change | 2025(estimated) | 2026(estimated) | 2027(estimated) | 2028(estimated) |
|---|---|---|---|---|---|---|---|
| Allianz Via | 88.0 | 18.7% | — | 88.0 | 88.0 | 88.0 | 88.0 |
| Axa Assurances | 41.0 | 8.7% | +0.1% | 43.1 | 45.3 | 47.6 | 50.1 |
| SAAR-CI | 37.0 | 7.9% | +0.1% | 40.3 | 43.8 | 47.7 | 51.9 |
| Chanas Assurances SA | 36.0 | 7.7% | +0.1% | 39.3 | 42.8 | 46.7 | 51.0 |
| SUNU Assurances | 29.0 | 6.2% | +0.3% | 36.6 | 46.1 | 58.1 | 73.3 |
| Zenithe | 23.0 | 4.9% | +0.9% | 34.5 | 51.8 | 77.6 | 116.4 |
| Activa Assurances | 20.0 | 4.3% | -0.3% | 14.0 | 9.8 | 6.9 | 4.8 |
| GMC Assurances SA | 20.0 | 4.3% | +0.2% | 23.5 | 27.7 | 32.6 | 38.3 |
| NSIA Cameroun | 17.0 | 3.6% | -0.3% | 12.0 | 8.5 | 6.0 | 4.3 |
| Atlantique Assurances | 15.0 | 3.2% | -0.1% | 14.1 | 13.2 | 12.4 | 11.6 |
| Beneficial General Insurance Sa | 15.0 | 3.2% | -0.1% | 14.1 | 13.2 | 12.4 | 11.6 |
| Area | 12.0 | 2.5% | +0.2% | 14.4 | 17.3 | 20.7 | 24.9 |
| Assurances Generales du Cameroun (AGC) | 11.0 | 2.3% | +0.1% | 12.2 | 13.6 | 15.1 | 16.8 |
| Royal Onx | 8.0 | 1.7% | +0.2% | 9.4 | 11.1 | 13.0 | 15.3 |
| Pro Assur SA | 7.7 | 1.6% | +0.1% | 8.6 | 9.6 | 10.7 | 11.9 |
| CPA | 4.9 | 1.0% | +0.2% | 5.9 | 7.0 | 8.4 | 10.0 |
Market share: official source figure when available, otherwise computed from the companies listed for this segment (not necessarily 100% of the country's total market). The 2025-2028 columns, in italics, are projections: never a blank cell, but the color indicates the reliability of the method used: gray = company-specific growth rate, amber = failing that, the country's market growth, orange = failing that, the country's GDP growth, light red = no growth data available, flat 0% by default.
Active reinsurers
9 reinsurers (national + regional operating in this zone), 2021 revenue in USD millions
| Reinsurer | Scope | Revenue 2021 (M$) | Net income (M$) | Observed growth | 2022(est.) | 2023(est.) | 2024(est.) | 2025(est.) | 2026(est.) | 2027(est.) | 2028(est.) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Ghana Re - Kenya | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re - Zimbabwe | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re | Regional | — | — | — | — | — | — | — | — | — | — |
| CICA - Re | Regional | — | — | — | — | — | — | — | — | — | — |
| Waica Re - Kenya | Regional | — | — | — | — | — | — | — | — | — | — |
| WAICA Re - Zimbabwe | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re (PTA Reinsurance Co) | Regional | 213.0 | 18.1 | +2.3% | 218.0 | 223.0 | 228.0 | 233.2 | 238.6 | 244.0 | 249.6 |
| CICA-RE | Regional | 176.2 | 13.4 | +11.3% | 196.1 | 218.3 | 243.0 | 270.6 | 301.3 | 335.5 | 373.7 |
| WAICA Re | Regional | 153.3 | 19.9 | +49.5% | 229.5 | 343.3 | 513.5 | 768.1 | 1148.9 | 1719.1 | 2572.0 |
Source: Atlas Magazine, Reinsurance Yearbook 2023. Last real data available: fiscal year 2021 (left-hand columns). The "2028 revenue (estimated)" column, in italic gray, is a projection based solely on the growth rate observed between 2020 and 2021 (capped between -30% and +50%/year); this is not an observed figure and should be treated with caution, particularly for companies with volatile or negative net income.
AISL Summary
- AISL positioning: 28/100, "Highly Restrictive" market.
- Insurance market: $457M, fiscal year 2024.
- Main entry barrier: compulsory cession (CICA-RE 20% + Africa Re 5% (base CIMA)).
- Sits 1.7 points above the regional average (8 scored markets).
Regional comparison
Average adjusted score in Central Africa : 26.6 (out of 8 scored markets)
Cameroon is 1.7 points above the regional average