AISL Executive Summary
Niger obtient un score AISL ajusté de 38.1/100 (restrictif). En 2024, le marché assurantiel local représentait 70 millions $ (0.4% de pénétration du PIB). Une cession obligatoire s'applique aux réassureurs étrangers (CICA-RE 20% + Africa Re 5% (base CIMA)). Le marché applique par ailleurs une exigence de capacité locale.
Summary written from verified AISL data, not an opinion, a starting point for analysis.
Economy
Capital
Niamey
Population
Not documented
GDP
$19.9 B
Currency
XOF
Insurance market
Market size
$70 M
Penetration
0.4%
Density / capita
Not documented
Growth (GDP proxy)
7.0%
Regulatory framework
Regulatory openness
RestrictiveCompulsory cession
Yes
CICA-RE 20% + Africa Re 5% (base CIMA)
Active friction mechanisms
2 / 7
Reference year
2024
AISL Score
Base score
44.9
Adjusted score (friction)
38.1
Regulatory access
72/100
Methodology breakdown
AISL recommendation: WATCH / MONITOR
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Similar markets
Structurally close profiles to Niger, computed on market size, growth, sector structure, environment and founder judgment.
Market (2024)
Vie : 24%
$16.7M
Non-vie : 76%
$53.7M
Total : $70.5M
Total premiums
$70.5M
Penetration
0.4%
Density / capita
Not documented
Growth
—
Number of insurers
—
International comparison
This market is -94% versus the OECD average (6.2% of GDP, 2024) and -94% 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
$19.9 B
GDP growth
7.0%
Population
—
Inflation
-4.5%
Currency
XOF
Source: World Bank Niger Country Page, juillet 2026
Regulatory mechanisms
CICA-RE 20% + Africa Re 5% (base CIMA)
Source: CIMA Code des assurances, rapports annuels CIMA, juillet 2026
What this market requires at entry
2 active regulatory mechanisms on this market, with what each one concretely means for entering Niger.
"What If" Simulator
Each active friction mechanism removes 3.4 points from this market's score (base score: 44.9, before regulatory friction). Uncheck a mechanism below to simulate its removal and see how many points this market would regain — using the exact AISL scoring formula.
Simulated score
38.1
2 mechanisms active (2 × 3.4 = −6.8 pts)
Market players
7 companies, 2024 premiums in USD millions
Market concentration
ConcentratedHHI 180893
Leader: Compagnie D'Assurances et de Reassurances du Niger SA (28.3%) — 7 companies
HHI = Herfindahl-Hirschman Index, a standard market concentration measure (sum of squared shares). <1500 = competitive, 1500-2500 = moderately concentrated, >2500 = concentrated.
Segment Life (2 companies)
| Company | 2024 premiums (M$) | Market share | Change | 2025(estimated) | 2026(estimated) | 2027(estimated) | 2028(estimated) |
|---|---|---|---|---|---|---|---|
| SUNU Assurances Vie | 12.0 | 16.2% | +0.1% | 13.1 | 14.3 | 15.6 | 17.0 |
| Compagnie Nouvelle Vie | 5.2 | 7.0% | +0.0% | 5.2 | 5.2 | 5.2 | 5.2 |
Segment Non-Life (5 companies)
| Company | 2024 premiums (M$) | Market share | Change | 2025(estimated) | 2026(estimated) | 2027(estimated) | 2028(estimated) |
|---|---|---|---|---|---|---|---|
| Compagnie D'Assurances et de Reassurances du Niger SA | 21.0 | 28.3% | +0.1% | 22.1 | 23.2 | 24.3 | 25.5 |
| Societe Nigerienne D'Assurances et De Reassurances | 15.0 | 20.2% | +0.0% | 15.0 | 15.0 | 15.0 | 15.0 |
| Mutual Benefits Assurances Niger SA | 8.5 | 11.5% | +0.1% | 9.1 | 9.8 | 10.6 | 11.4 |
| SUNU Assurances IARD Niger | 8.3 | 11.2% | -0.1% | 7.1 | 6.1 | 5.2 | 4.4 |
| SAHAM Assurances | 4.2 | 5.7% | — | 4.5 | 4.8 | 5.1 | 5.5 |
Market share: official source figure when available, otherwise computed from the companies listed for this segment (not necessarily 100% of the country's total market). The 2025-2028 columns, in italics, are projections: never a blank cell, but the color indicates the reliability of the method used: gray = company-specific growth rate, amber = failing that, the country's market growth, orange = failing that, the country's GDP growth, light red = no growth data available, flat 0% by default.
Active reinsurers
9 reinsurers (national + regional operating in this zone), 2021 revenue in USD millions
| Reinsurer | Scope | Revenue 2021 (M$) | 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: 38/100, "Restrictive" market.
- Insurance market: $70M, fiscal year 2024.
- Main entry barrier: compulsory cession (CICA-RE 20% + Africa Re 5% (base CIMA)).
- Sits 6.1 points above the regional average (15 scored markets).
Regional comparison
Average adjusted score in West Africa : 32 (out of 15 scored markets)
Niger is 6.1 points above the regional average