logoBC
Yaoundé - 25 February 2024 -
Insurance

Cameroon: Insurance companies paid XAF93.8 bln of claims and benefits in 2018 (ASAC)

Cameroon: Insurance companies paid XAF93.8 bln of claims and benefits in 2018 (ASAC)
  • Comments   -   Wednesday, 27 May 2020 13:56

(Business in Cameroon) - In Cameroon, insurance companies released a total of XAF93.8 billion for the payment of claims and other benefits in 2018, according to the Association of Insurance Companies of Cameroon (Asac).  

According to the association, despite the steadily rising volume of this figure, the fact remains that Cameroonians are still suspicious about insurance companies. According to a study by the Ministry of Finance, only 10% of the 25 million Cameroonians have already subscribed to an insurance policy.

"Insurers have often been perceived as those who, through legal constraints, receive premiums without being always there when the time comes to compensate” customers, said Jacob Sindzé, general manager of Area assurances, in an interview with the government daily Cameroon-tribune.

This image was exacerbated by the actions of some unscrupulous insurers. Because of their actions, clients no more trust the insurance industry despite its role as an essential tool for economic development in the country,” he continued.

BRM

cameroon-s-minister-of-energy-asks-for-patience-over-power-cuts-until-march-2024
For over two months, households and businesses across seven of Cameroon's ten regions connected to the Southern Interconnected Grid (RIS) have been...
cameroon-waives-import-duty-on-190-000-tons-of-rice-from-india-to-combat-rising-prices
To facilitate the import of 190,000 tons of rice from India in March and April 2024, the Cameroon Government has offered a special incentive to importers...
china-remained-cameroon-s-leading-supplier-in-2022-despite-minor-market-share-dip
The National Institute of Statistics recently issued a statement, providing data on Cameroon’s trade exchanges in 2022. According to the document,...
cameroon-s-lng-earnings-soar-by-148-8-in-2022-ins
Cameroon experienced a "spectacular" surge in revenues from liquefied natural gas (LNG) exports in 2022, data from the national stats agency INS showed....

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »