Sunu Group

What Sunu Group does

SUNU Group (legal entity: SUNU Participations Holding SA) is a privately held, pan-African insurance and financial services conglomerate founded in 1998 by Pathé Dione, a Senegalese mathematician and former Africa director at UAP. The group operates 29 subsidiaries across 17 African countries, predominantly in West and Central Africa, providing life insurance (SUNU Assurances Vie), property and casualty insurance (SUNU Assurances IARD), banking (SUNU Bank Togo, acquired in 2018 from BPEC) and microfinance (KAJAS Microfinance, Senegal). It also holds strategic minority stakes in microfinance institution Advans (10% in Côte d'Ivoire from 2021, 24.88% in Cameroun from 2025) to embed insurance in microfinance distribution.

The product portfolio spans education and savings life policies, pensions, death and funeral cover (Soutra), hospitalization (Hospit), agricultural insurance (Agrissur), motor, travel, home, aviation, civil liability and political risk/terrorism cover, plus bancassurance products distributed through owned and partner banks. Underwriting, claims and servicing are run through locally licensed CIMA-regulated subsidiaries (e.g., SUNU Assurances IARD Burkina Faso, formerly Allianz Burkina) with each market contributing its own distribution: direct sales offices, customer-relationship centres (e.g., 0707 in Congo), microfinance-branched distribution via Advans, and corporate channels for SMEs, NGOs and enterprises. Top-5 market rankings in most subsidiaries and 35,700+ microfinance-linked customers evidence commercial traction, though consolidated revenue, GWP and combined ratios are not publicly disclosed.

SUNU makes money through recurring insurance premiums (life and P&C), investment income on reserves, banking net interest income via SUNU Bank Togo, and fee/interest income from microfinance. Pricing examples (e.g., travel insurance from 9,528 FCFA in Congo) suggest granular product-level price discrimination across 17 markets. Capital structure is anchored by Dione-family ownership through SUNU Participations Holding SA; the group's Nigerian listed subsidiary (SUNU Assurances Nigeria Plc, ~83% owned) is raising N9.3 billion via a rights issue to meet NAICOM's N15 billion minimum capital, with the parent prepared to inject over $500M if required. A founder succession transition (Pathé Dione passed away on 12 January 2023) is being managed under CEO Mohamed-Lamine BAH, Deputy CEOs Joël Amoussou and Karim-Franck Dione, and Chairman Alexandre Atté Ahui.

Name

Sunu Group

Legal name

SUNU Participations Holding SA

Website

https://sunu-group.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

SUNU Group is a privately held pan-African insurance and financial services conglomerate operating 29 subsidiaries across 17 African countries, offering life insurance, property & casualty insurance, banking (SUNU Bank Togo), and microfinance-linked products to individuals, MSMEs and corporate clients.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance premiums: SUNU Group generates revenue primarily through insurance premiums collected from life insurance and property & casualty (IARD) insurance products across its African subsidiaries.
2. Banking and credit services: Through SUNU Bank Togo and other banking subsidiaries, the group provides investment credit, equipment credit, operating credit, consumer credit, and savings accounts.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

SUNU Group is a pan-African insurance and financial services conglomerate that underwrites life insurance (SUNU Assurances Vie) and property & casualty insurance (SUNU Assurances IARD) across 17 African countries through 29 subsidiaries. The group also operates banking services through SUNU Bank Togo and microfinance through KAJAS Microfinance, with strategic distribution partnerships with Advans microfinance institutions in Côte d'Ivoire, Cameroon, and DRC.

Product overview

SUNU Group is a pan-African insurance and financial services conglomerate operating across 17 African countries through 29 subsidiaries. The company operates two main insurance product lines: SUNU Assurances IARD (Property & Casualty Insurance) covering motor, home, travel, aviation, business, and liability risks; and SUNU Assurances Vie (Life Insurance) offering education, savings, pensions, death insurance, and micro insurance. The Group also provides banking services through SUNU Bank Togo and microfinance through Kajas Microfinance. Insurance products are marketed under various brand names including Mob'Assur, Travel Insurance, and specialized products developed through partnerships such as Soutra, Hospit, Agrissur, and Oukalé with Advans. The Group leverages a bancassurance model and serves customers through digital channels including a customer relations centre and online platforms, with operations governed by CIMA insurance codes across West and Central African markets.

Differentiator

Problem solved

Functional benefit

Brands

• Soutra: Insurance product launched through partnership with Advans Côte d'Ivoire for microfinance customers
• Hospit
• Agrissur
• Oukalé
• Mob'Assur
• SUNU santé
• SUNU Bank
• SUNU Bank Togo
• KAJAS Microfinance

Products and services

• SUNU Assurances IARD (Property & Casualty Insurance) Property and casualty insurance products covering motor, home, travel, aviation, fire, and business risks for individuals and businesses across multiple African countries.
• SUNU Assurances Vie (Life Insurance) Life insurance products including education plans, savings, pensions, group pensions, death insurance, end-of-career indemnities, and micro insurance for individuals across 17 African countries.
• SUNU santé (Health Insurance) Health insurance coverage offered through the SUNU santé subsidiary, providing medical and health protection products for individuals.
• Travel Insurance Standalone travel insurance coverage for travelers, available in Congo starting from 9,528 FCFA, providing peace of mind for trips.
• Mob'Assur (Mobile Insurance) Standalone mobile device and phone insurance product offered by SUNU Assurances IARD Burkina Faso, providing coverage for mobile devices.
• Soutra (Funeral Insurance) Funeral insurance product for microfinance customers distributed through Advans Côte d'Ivoire's branch network, serving over 35,700 clients.
• Hospit (Hospitalization Insurance) Hospitalization insurance product for microfinance customers distributed through Advans Côte d'Ivoire's branch network, providing health coverage to underserved populations.
• Agrissur (Agricultural Insurance)

Quantifiable outcome

• 35,700+ microfinance clients served through Advans partnership with insurance products
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Advans CamerouncoreStrategic or Co-development Partner · 10 April 2025SUNU Assurances Vie Cameroun acquired a 24.88% stake in Advans Cameroun following COBAC approval. This strategic partnership builds on synergies between microfinance and insurance sectors, allowing Advans Cameroun to expand its insurance offerings while SUNU gains access to microfinance distribution channels and underserved populations in Cameroon.
• Advans (Pan-African Microfinance Group)coreStrategic or Co-development Partner · 10 April 2025Strategic partnership between SUNU Group and pan-African microfinance group Advans to promote financial inclusion. Advans DRC and SUNU Group are also jointly exploring possibilities to launch insurance products for Advans Congo's local clientele.
• Advans Côte d'IvoirecoreStrategic or Co-development Partner · 1 December 2021SUNU Assurances Vie Côte d'Ivoire acquired a 10% stake in Advans Côte d'Ivoire in December 2021. The partnership has enabled launch of insurance products such as Soutra, Hospit, Agrissur and Oukalé, serving over 35,700 clients with funeral and hospitalization insurance products through Advans' microfinance network.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• AXA Africa: Global insurer with African presence historically connected to SUNU's founder (UAP—Union des Assurances de Paris—taken over by AXA)—a key industry peer and historical reference point.
• Sanlam Limited: Large pan-African insurance and investment group with extensive operations across the continent—comparable in product breadth (life, P&C, investments) and Africa-wide footprint.
• Liberty Holdings (now part of Standard Bank): Major African insurance group with operations in South Africa and other African markets—directly comparable as an established multi-country insurance provider.
• Allianz Africa (formerly Allianz Africa): Global insurer that divested 6 African subsidiaries to SUNU in 2019—relevant competitor and historical counterpart, with overlap in product lines and customer segments across the continent.
• Old Mutual Limited: Pan-African insurance, banking, and investment group with operations across multiple African markets—directly comparable to SUNU's diversified insurance + financial services model and geographic breadth.

Direct peers

• Britam Holdings: East African-anchored insurance, asset management, and banking group with cross-African expansion—comparable in providing diversified insurance and financial services across multiple African markets.
• NSIA Group: West and Central African insurance and financial services conglomerate headquartered in Côte d'Ivoire—directly comparable as a regional insurance, banking, and financial services platform competing in SUNU's core West African markets.
• Jubilee Insurance: Pan-African insurance group with operations in East, Central, and Southern Africa offering life and P&C insurance—directly comparable in multi-country African insurance distribution.

Emerging players

• ICEA Lion Group: East African insurance group offering life, general, and health insurance across multiple countries—a comparable multi-line insurer focused on African markets.

Others

• Africa Re (African Reinsurance Corporation): Pan-African reinsurer of which SUNU is likely a cedent counterparty—comparable as an African insurance ecosystem participant and a key industry intermediary for primary insurers like SUNU.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries23 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sunu Group