« Life insurance has great potential in the DRC »

What is the state of life insurance in the DRC?

It’s a very young market, with premium income of USD 7 million in 2021, or 3% of total issuance. But the market, which is mainly driven by pension business, is growing very fast. Rawsur Life S.A. is the market leader with 74% market share.

How are you positioned?

We offer a complete range of life insurance products. In particular, I would like to mention borrower’s insurance, which covers the risk of the borrower’s death. We also have a group life product that companies can take out for their employees. However, there is potential in capitalization products (supplementary pensions, end-of-career indemnities), which we are working hard to develop. The development of individual products is linked to the increase in purchasing power and savings capacity.

So there are real opportunities…

Life insurance has real potential for development. We want to be a key player in this growth, offering solutions for both companies and individuals. Digitalization is an essential tool for making life insurance accessible to more people in the retail segment. In addition, the recommendations of the Organization for the Harmonization of Business Law in Africa (OHADA), which aim to encourage companies to make provisions for their employees’ retirement and to outsource them to insurers, should also have a positive impact by providing a tax advantage.