Dakar, Apr 29 (APS) – The insurance market posted a turnover of 207 billion CFA francs and invested more than 400 billion CFA francs in the national economy in 2020, announced on Thursday, the president of the Association of Insurers of Senegal (AAS), Souleymane Niane.
“In 2020, if I take the example of Senegal, as much as we have a turnover of 207 billion CFA francs, as much as we put in 2020, 400 billion CFA francs, invested in the Senegalese economy, under forms of equity investments in companies, job creation, term deposits in the various local banks (…)”, he declared.
Beyond these performances, the insurance companies also have the ambition to considerably improve this contribution to the economy through a five-year plan currently being validated, to further mobilize the resources of domestic savings, a- he added.
Mr. Niane spoke thus during a press briefing organized, as a prelude to the 46th General Assembly (GA) of the Federation of African National Law Insurance Companies (FANAF). This organization, which brings together 203 members, is primarily intended to promote the development of insurance in the area.
”Systemic risks: insurance and resilience” is the main theme of the GA scheduled for Dakar from 23 to 25 April. The opening ceremony will take place at the Abdou Diouf Conference Center in Diamniadio (CICAD), while the panels and discussions between decision-makers and supervisory bodies will be held at the King Fahd Hotel, according to the organizers.
This General Assembly ”will make it possible to define new orientations, to identify the current symmetrical risks in the insurance and reinsurance sector, to attribute the roles and functions of the directors of insurance companies within the framework of the management of said risks within the sector”, according to Souleymane Niane, also president of the organizing committee of this event.
According to him, Senegal has the particularity of hosting this annual FANA meeting, every ten years (2001 and 2011). But, “for reasons related to the pandemic, last year’s was held in virtual mode”, he noted.
”As you know, our generation had not known a pandemic, and the insurers, certainly, in the insurance contracts they made, had not taken into account the consequences of a pandemic” , he also pointed out.
On the strength of this observation, the president of the AAS is of the opinion that it is “important today, with the advent of this pandemic, with the various natural disasters that we are recording in our various countries, that insurers can sit down, reflect and try to find a solution for good coverage of the consequences of this pandemic and natural disasters.