The Congolese insurance market posted total premiums of $320m in 2023, compared to a mere $70m in 2018, according to the director-general of the Insurance Regulatory and Control Authority in the DRC (ARCA), Alain Kanyinda.
Nairobi-headquartered financial services group, Equity Group, is piloting its insurance services in the Democratic Republic of Congo (DRC) ahead of a plan to roll out the business across its regional markets.
Britam Holdings is seeking opportunities to enter the massive but underserved insurance market in the Democratic Republic of Congo later this year, reported Bloomberg.
State owned insurer SONAS has been granted a de facto monopoly over motor insurance.
The Insurance Regulatory and Control Authority (ARCA) of the Democratic Republic of the Congo (DRC) has issued a reminder of a "ban on direct insurance abroad" to anyone living on Congolese soil.
The Democratic Republic of Congo has granted an insurance licence to a subsidiary of Hong-Kong-listed Frontier Services Group (FSG), a security and logistics company run by Mr Erik Prince, the founder of private security firm Blackwater.