rd congo Closed to alien investors, policy in the democratic Republic of Congo has been, for several decades, monopolized by Société Nationale five hundred ’ Assurances ( SONAS ). Since its establishment in 1968, this unique State-run stakeholder has been the merely one authorized to underwrite risks throughout the country. Over the years, the volume of premiums has only decreased, before bouncing back at 70 million USD in 2018. With the proclamation of Law 005/2015 on the Insurance Code, the market is now open to other home and foreign players. The opening of the market has materialized in 2016 by the Insurance Regulatory and Control Authority ( ARCA ), a regulative consistency dedicated to steering the revival of the congolese marketplace.

No less than 16 insurers announced, in 2017, their purpose to get established in Congo. In April 2019, ARCA granted licenses to three non-life policy companies and one life caller, namely :

  • Rawsur Life and Rawsur RDC, both subsidiaries of the Congolese bank Rawbank
  • Activa Assurance RDC, subsidiary of the Cameroonian group ACTIVA
  • Société Financière d’Assurance du Congo (SFA)

In March 2020, the regulator has issued three new authorizations to :

  • SUNU Assurances IARD
  • Mayfair Insurance Congo
  • Global Pionner Assurance (GPA)

By 30 June 2020, the congolese market comprises eight insurance companies, including SONAS, which has been granted a period of adaptation to the newly regulative environment by ARCA. The challenges of the Congolese market The chief function of the 2015 Insurance Code is to put an conclusion to a long monopoly period in prefer of SONAS. indemnity was then governed by disparate and wholly disused text. This legislation prompted the evasion of premiums abroad with a non-insurance tendency that was worsening year after year. As a result of this situation, the indemnity penetration pace in the DRC is one of the lowest in Africa. At 0.97 % in 2018, it is far behind those recorded by its neighbors : 1.24 % in Gabon and 2.4 % in Kenya. The new law advocates:

  • The opening of the market to free competition,
  • The establishment of a single regulator for all operators in the sector,
  • The introduction of a range of compulsory insurance (motor third party liability, airline liability, fire, construction, import faculties),
  • Better recourse management between insurers,
  • The establishment of a system of compensation for personal injury,
  • The creation of a guarantee fund for victims of road accidents caused by uninsured individuals.

For a country of about 2.5 million km2 and a population of 85 million, the commercialize constitutes an enormous reservoir for indemnity premiums. While the current turnover does not exceed 100 million USD, the real electric potential is estimated at 800 million USD in the short term and between 3 and 5 billion USD in the long term .

Congolese insurance market*: Information sheet of companies

Société Financière d’Assurance (SFA Congo)

  • Date and place of creation: 2017 à Kinshasa
  • License: Granted on 28 March 2019
  • Classes of business: Non-life insurance : fire, motor, construction, political risks, etc.
  • Founders of the company: Abdallah Yacoub Wazni / Henry Yoan Wazne

Contact

  • Head office: 134, Boulevard du 30 Juin, Commune de Gombe, Kinshasa, DRC
  • Phone: +243 81 73 00 108
  • E-mail:

    d [dot] lemaire

    [ at ]

    sfa-congo [dot] com

    /

    contact

    [ at ]

    sfa-congo [dot] com

  • Website: www.sfa-congo.com

SFA Congo in 2019

Number of employees 20
Authorized share capital 10 000 000 USD
Share capital as at 31/12/2019 10 000 000 USD
Shareholder’s equity as at 31/12/2019 15.5 billion CDF (9 145 000 USD)
Assets as at 31/12/2019 39 billion CDF (23 030 000 USD)

management

Abdallah Yacoub Wazni Chairman of the board
Antoine Choueifati General Manager
Patrice Buabua Deputy General Manager
Valery Safarian Board Advisor
David Lemaire Commercial and Marketing Manager
Thiemoko Traore Development and Intermediaries Manager
Ahmad Kibrit Financial Manager
Lory Pinzi Human Resources Manager

Shareholding

Shareholders Shares
Abdallah Yacoub Wazni 49.50%
Henry Yoan Wazne 49.50%
Ayad Mafouz 1%

Activa Assurances RDC

  • Date and place of creation: 27 May 2019 in Kinshasa
  • Classes of business: Non life
  • Founder of the company: ACTIVA Group
  • Share capital: 16.206 billion CDF (9.562 million USD)

Contact

  • Head office: 4, Avenue Pumbu, Commune de la Gombe, Kinshasa
  • Phone: +243 85 85 86 382
  • E-mail :

    contact [dot] rdc

    [ at ]

    groupe-activa [dot] com

  • Website: www.group-activa.com/rdc

management

Richard Lowe Chairman of the board
Denis Ouedraogo General Manager
Diane Zanga Bokongo Deputy General Manager
Maryus Njiepmouchim Technical Manager
Francine Tshabantu Sales & Marketing Manager
Joseph Nouboussie Financial Manager
Serge Amougou Audit and Compliance Manager
Jacques Loleke Head of Health and Compensation
Olivier Mukwayanzo Head of Claims

Rawsur SA

  • Date and place of creation: 28 March 2019 in Kinshasa
  • Classes of business: Motor, travel, comprehensive homeowner’s insurance, personal accidents, third party liability, Contractor’s All Risks (CAR) marine, professional comprehensive insurance,…
  • Founder of the company: Rawji Group
  • Share capital: 10 billion CDF (5.9 million USD)

Contact

  • Head office: 90, Boulevard du 30 Juin, Gombe, Kinshasa, DRC
  • Phone: +243 81 55 86 865
  • E-mail :

    contact

    [ at ]

    rawsur [dot] com

  • Website: https://rawsur.com

management

Mazhar Raw Chairman of the board
Christian Hapi Rawsur Group’s General Manager
Zain Rawji Rawsur’s General Manager

Rawsur Life

  • Date and place of creation:28 March 2019 in Kinshasa
  • Classes of business: Life, pension
  • Founder of the company: Groupe Rawji
  • Share capital: 10 billion CDF (5.9 million USD)

Contact

  • Head office: 90, Boulevard du 30 Juin, Gombe, Kinshasa, DRC
  • Phone: +243 81 55 86 865
  • E-mail :

    communication

    [ at ]

    rawsurlife [dot] com

  • Website: https://rawsur.com

management

Mazhar Raw Chairman of the board
Christian Hapi Rawsur Group’s General Manager

SUNU Assurances RDC

  • Date and place of creation: 7 March 2019 in Kinshasa
  • Class of business: Non life
  • Founder of the company: SUNU Group
  • Share capital: 10 million USD

Contact

  • Head office: 47, Avenue Ngongo Lutete, Gombe, Kinshasa, DRC
  • Phone: +243 850 184 444
  • E-mail :

    rdc [dot] iard

    [ at ]

    sunu-group [dot] com

  • Website: https://sunu-group.com/fr/notrereseau/filiales/rdc

management

Pathé Dione Chairman of the board
Ibrahim Coulibaly General Manager
Godelive de Cordier Okit’Otete Deputy General Manager

Actionnariat

Actionnaires Parts
SUNU Equity interests 99.792%
Others 0.0095%

Mayfair Insurance Congo

  • Date and place of creation: 7 March 2019 in Kinshasa
  • Class of business: Non life
  • Founder of the company: Mayfair Insurance Kenya

Contact

  • Head office: Immeuble 1113, Boulevard du 30 Juin, 2ème étage, Bureau 2A, Kinshasa
  • Phone: +243 820 142 209 / +243 896 900 083
  • E-mail:

    info

    [ at ]

    mayfair [dot] cd

    /

    christian [dot] muta

    [ at ]

    mayfair [dot] cd

management

Rahim Dhrolia Chairman of the board
Yashwin Hawoldar Chief Executive Officer (CEO)

SONAS

  • Date and place of creation: 23 November 1966 in Kinshasa
  • Secteur d’activité : Non life
  • State-owned company
  • Share capital: 43.162 billion CDF (25.5 million USD)

Contact

  • Head office: 6664 Immeuble SANKURU Boulevard du 30 Juin, Gombe, Kinshasa
  • Phone: + 243 81 687 7156
  • E-mail:

    communication

    [ at ]

    sonas [dot] cd

  • Website: https://www.sonas.cd

management

Jean Robert Kumabwenyi Iwasa Chairman of the board
Lucien Ekofo Bonyem CEO
Gilbert Bangula Badibanga Deputy CEO

* Global Pionner Assurance ( GPA ) data are unavailable Exchange rate on 31/12/2019 : 1 CDF = 0.00059 USD

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