Ascoma Equatorial Guinea
Established since 2005 in Malabo then in Bata, Ascoma Equatorial Guinea conducts insurance brokerage and reinsurance activities throughout the country.
The country in a nutshell
- Population: 1.22 (2016)
- Area: 28,051 km2
- GNP: €11.26 billion (2016)
- Rate of growth: -7.4% (2017 forecast)
Equatorial Guinea insurance market
Equatorial Guinea`s economy is mainly based on the exploitation of hydrocarbons (about 99% of exports) and the construction/public works sector. However, the country is weakened by a non-diversified economy. Despite the obligation to insure, especially for motor vehicles or for businesses, the lack of an insurance culture hampers the development of this market. Three insurance companies and one reinsurance company occupy the sector, but many local companies refuse to or cannot insure, leading to a substantial shortfall for this branch of activity. To become part of Equatorial Guineans` lifestyle, the insurance sector needs to be more structured: creation of products adapted to needs; respect for commitments; discipline and control to limit abuses. Equatorial Guinea depends on the insurance regulations of the Inter-African Conference on Insurance Markets (CIMA) zone.
*Sources: www.diplomatie.gouv.fr - www.fanaf.org - www.mfw4a.org
Our expertise in Equatorial Guinea
Ascoma Equatorial Guinea provides analysis, advice, insurance policy placement and claims management services. Benefiting from the support and expertise of the Ascoma Group, an international insurance brokerage established in Africa for more than 60 years, Ascoma Equatorial Guinea manages a portfolio of very varied clients – multinationals, SMEs, professionals, traders, individuals – while adapting to their local and international needs.
The expertise and technical know-how of its teams, an in-depth knowledge of local specificities and the solid relationships established with insurance companies enable Ascoma Equatorial Guinea to support its clients in all sectors of economic life:
Agriculture – Services – Communication – Telecommunications – Large Retailers – Industries –Banking – Construction/Public Works – Transportation – Oil industry, etc.
Ascoma Equatorial Guinea offers coverage solutions for you, your family and your property. By choosing Ascoma, you opt for the best possible coverage at the best price on the Equatorial Guinean insurance market.
Ascoma Equatorial Guinea also sells health and retirement insurance products (accident insurance, life insurance, supplementary pension, funeral insurance) that allow you to calmly understand all the financial consequences related to these types of risks.