Senegal’s insurance industry has surpassed Cameroon to claim the position of the second-largest market in the 14-country CIMA zone, trailing only Côte d'Ivoire.
The sector generated 311.2 billion CFA francs ($541 million) in premium revenue in 2025, according to data reported by The Rio Times.
The country is currently moving toward a new International Monetary Fund program, with public debt burden approaching 132% of GDP.
The shift in regional ranking underscores the growing depth of Senegal’s financial services sector.
As the West African nation continues to attract foreign investment and expand its domestic capital markets, the insurance industry’s growth reflects broader economic formalization and increased risk coverage among businesses and consumers.
This development arrives as Senegal navigates a complex macroeconomic landscape.
The country is currently moving toward a new International Monetary Fund program, with public debt burden approaching 132% of GDP.