L'Africaine des Assurances

What L'Africaine des Assurances does

L'Africaine des Assurances S.A. is a privately held multi-line insurance company headquartered in Cotonou, Benin. Founded in 1997 and operational since March 30, 1998, it was the first private insurer licensed in the IARDT (Incendie, Accidents, Risques Divers et Transport) category in Benin and is recognized as the country's market leader. The company offers a comprehensive product suite across personal and commercial lines, including automobile (AUTO), two-wheeler (MOTO'SUR), home multi-risk (DOMUS), individual/family accidents (SECURIT, ASFA), travel security (SVS), health (SANTÉ, BGFI Santé International), professional multi-risk (MULTIPRO), SME damage (QUIETUS), severe illness (AGR), business owner liability (RCCE), business interruption, fire, construction, machine breakdown, and transport insurance. Underlying technology is described as standard insurance information management systems for policy administration, claims processing, and network management, with no proprietary AI or advanced technology components disclosed.

The company generates revenue through recurring annual premiums across both non-life (IARDT) and life insurance (via wholly-owned subsidiary L'Africaine Vie, established 2007), with pricing determined individually based on customer risk profiles and coverage needs. Distribution is multi-channel: 3 Direct Offices in Cotonou, Porto-Novo, and Parakou; approximately 40 General Agencies across Benin; and channel partnerships with FECECAM Benin (microfinance, since 2015) and BGFIBANK Benin (banking). The company has expanded internationally through wholly-owned subsidiaries in Equatorial Guinea (2005), Côte d'Ivoire (2015), and Congo Brazzaville (2017), and holds a 30% stake in L'AFRICAINE DES GARANTIES SA (2015) for credit guarantees. It is a member of the GLOBUS Pan-African insurance network (~40 insurers, 48+ countries), has an international 'A' financial strength rating (since 2014), and is the first insurance company in Benin certified to ISO 9001:2015 (March 2017). The company is governed by a 7-member Board chaired by Lionel TALON, with Dr. Kenneth ELEGBEDE serving as Director General since 2020, and employs approximately 100 people.

Name

L'Africaine des Assurances

Legal name

L'Africaine des Assurances S.A.

Website

https://africaine-assur.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

L'Africaine des Assurances is a privately held Beninese insurance company and IARDT market leader, offering multi-line personal and commercial insurance products through 3 Direct Offices, ~40 General Agencies, and bancassurance/microfinance channels, with international subsidiaries in Equatorial Guinea, Côte d'Ivoire, and Congo Brazzaville.

Ownership category

akta.pro rank

Product category

Non-Life Insurance (IARDT)

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Agencies, Brokerages, and Other Insurance Related Activities (5242), Other Insurance Related Activities (52429)

SIC

Fire, Marine & Casualty Insurance (6331), Life Insurance (6311), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

akta.pro secondary industries

Professional Liability (Errors & Omissions) (FSAJADAB), Technology / IT Services BOP (FSAJAFAK), Product Liability (FSAJADAC)

Keywords

• Non-life insurance
• Property casualty insurance
• Health insurance products
• Automobile insurance coverage
• Commercial insurance solutions

Headquarters

HQ city

Cotonou

HQ country

Benin

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Non-life insurance premiums (IARDT): Collection of insurance premiums from policyholders covering Automobile, Transport, Fire, Liability, Accident & Health, and Diverse Risks lines. Revenue is generated through recurring annual premiums.
2. Life insurance premiums (via subsidiary L'Africaine Vie): Life insurance products including health, individual accidents, and travel security offered through the subsidiary L'Africaine Vie, created in 2007.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

L'Africaine des Assurances is the first private IARDT (Incendie, Accidents, Risques Divers et Transport) insurance company in Benin, offering a comprehensive portfolio of non-life insurance products (automobile, fire, transport, civil liability, health, accidents, professional multi-risk, IT risks, construction, machinery breakdown, business interruption, SME damage) and life insurance through its subsidiary L'Africaine Vie. The company distributes these products through 3 direct offices, approximately 40 general agencies, and channel partnerships with FECECAM Benin and BGFIBANK Benin, serving both individual consumers and professional/business clients.

Product overview

L'Africaine des Assurances is a comprehensive insurance company operating as a multi-product, multi-channel insurance platform. Founded in 1997 as the first private IARDT (Fire, Accidents, Miscellaneous Risks, and Transport) insurance company in Benin, it offers both professional and personal insurance products. The professional portfolio includes SANTÉ health insurance, AUTO automobile coverage, Tous Risques Informatiques (TRI), MULTIPRO professional multi-risk, QUIETUS SME damage insurance, AGR severe illness coverage, RCCE business owner liability, Perte d'Exploitation business interruption, Incendie fire insurance, Construction (TRC/TRME), Bris de Machine, and Transport insurance. Personal products include DOMUS home insurance, RECRE school liability, MOTO'SUR two-wheeler coverage, SECURIT individual accidents, ASFA family accidents, and SVS travel security. The company operates through 3 Direct Offices, approximately 40 General Agencies, and contact points nationwide, with international subsidiaries in Equatorial Guinea (2005), Côte d'Ivoire (2015), Congo Brazzaville (2017), and a life insurance subsidiary L'Africaine Vie (2007), plus a 30% stake in L'AFRICAINE DES GARANTIES SA for guarantees.

Differentiator

Problem solved

Functional benefit

Products and services

• SANTÉ (Health Insurance) Health insurance product for professionals and businesses that covers employee healthcare expenses and family medical costs, providing access to a network of healthcare providers, pharmacies, clinics, and hospitals across Benin.
• AUTO (Automobile Insurance) Comprehensive automobile insurance covering bodily injury, material damage, and consequential financial consequences arising from vehicle circulation.
• Tous Risques Informatiques (TRI) All computer risks insurance covering hardware against accidental breakage from technical errors, human mistakes, external factors, fire, water damage, and theft, including media reconstitution costs and additional operating expenses.
• MULTIPRO (Multirisque Professionnelle) Professional multi-risk insurance protecting business assets, covering fire, theft, water damage, glass breakage, IT risks, machinery breakdown, and providing civil liability and financial loss protection.
• QUIETUS (Globale Dommages des PME/PMI) Simplified global damage insurance for SMEs/PMIs covering buildings, furniture, equipment, and goods against fire, theft, machine and glass breakage, and IT risks.
• BGFI Santé International International health insurance product (BGFI SANTE PLUS) distributed through BGFIBANK Benin branches.
• AGR (Assurance des Grosses Pathologies) Severe illness insurance guaranteeing 100% coverage of hospitalization expenses for certain serious pathologies.
• RCCE (Responsabilité Civile Chef d'Entreprise) Business owner civil liability insurance covering exploitation civil liability and professional civil liability for damages caused to third parties.
• Perte d'Exploitation Business interruption insurance compensating for financial losses from reduced turnover or operational losses following fire or accidental machinery breakdown.
• Incendie (Fire Insurance) Fire insurance indemnifying policyholders for direct or indirect material damage to buildings, personal furniture, equipment, and professional furniture caused by fire.
• Construction (TRC/TRME) Construction insurance including All Risks Construction (TRC), All Risks Assembly and Testing (TRME), Decennial RC, and Building Damage insurance for construction projects.
• Bris de Machine Machinery breakdown insurance guaranteeing compensation for damage to machines, technical equipment, mechanical installations, electrical equipment, and construction equipment.
• Transport Transport insurance covering goods during maritime, air, or land transportation, available in three contract types: All Risks, Characterized Accidents, and FAP Sauf.
• DOMUS (Multirisque Habitation) Home multi-risk insurance covering buildings, improvements, and personal furniture with customizable coverage options.
• RECRE (Responsabilité Scolaire) School civil liability insurance covering parents and schools for damages caused by children, including coverage on school premises and home-school routes.
• MOTO'SUR (Deux Roues) Two-wheeled vehicle insurance covering civil liability, driver security, vehicle damage, theft, and fire.
• SECURIT (Individuels Accidents) Individual accident insurance covering medical expenses, invalidity compensation, work stoppage benefits, and death benefits.
• ASFA (Sécurité Familiale Accidents) Family accident security insurance guaranteeing compensation to family members for injuries or death from accidents during private or professional life.
• SVS (Sécurité Voyage Séjour)

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and secondary.

• FECECAM BenincoreChannel Partner/ Reseller/ Distributor · 1 November 2015Strategic distribution partnership with FECECAM Benin (Faîtière des Caisses d'Épargnes de Crédit Agricole Mutuel du Bénin) signed in November 2015. Enables insurance products to be accessible at FECECAM microfinance counters, bringing products closer to rural and underserved populations. Part of the promotion of microfinance-sector insurance distribution.
• L'AFRICAINE DES GARANTIES SAcoreStrategic or Co-development Partner · 1 January 2015L'Africaine des Assurances holds a 30% equity stake in L'AFRICAINE DES GARANTIES SA, created in 2015. The guarantee company facilitates access to medium and long-term credit for private and public enterprises in Benin and the sub-region for financing their investments.
• BGFIBANK BeninsecondaryChannel Partner/ Reseller/ DistributorBGFI Santé International insurance product is distributed through BGFIBANK Benin branch network. Customers can access the product at bank counters.
• GLOBUS RecoreOthersPrimary reinsurance partner and member of the GLOBUS federated Pan-African network of around 40 insurance companies covering 48+ African countries in Life and Non-Life branches.
• CICA RecoreOthersReinsurance partner listed among the company's reinsurers. CICA Re (Confédération des Institutions Financières Africaines - Réassurance) provides reinsurance capacity.
• AFRICA RecoreOthersAfrican Reinsurance Corporation - major African reinsurance provider listed among the company's reinsurance partners.
• NCA ResecondaryOthersListed reinsurance partner.
• SEN ResecondaryOthersListed reinsurance partner.
• AVENI ResecondaryOthersListed reinsurance partner.
• GHANA ResecondaryOthersListed reinsurance partner.

Scale indicators8 records

Recent moves10 records

Expansion highlights10 records

Others

• Africa Re (African Reinsurance Corporation): Pan-African reinsurer that is itself a L'Africaine reinsurance partner, providing capacity for IARDT risks. Useful adjacent comparable as a CIMA-zone risk intermediary and as a benchmark for African reinsurance economics.
• CICA Re: Regional African reinsurer serving CIMA-zone primary insurers; L'Africaine shareholder and reinsurer. Useful as an ecosystem peer given the shared capital and capacity relationship with L'Africaine.

Broad incumbents

• Saham Assurances (now part of Allianz): Long-standing pan-African insurance franchise (acquired by Allianz in 2023) covering multiple WAEMU and CEMAC countries. Comparable in scale ambition and multi-country non-life focus, now operating under a global balance sheet.
• Old Mutual Africa: South African-headquartered financial services group with insurance operations across Africa. Comparable in multi-line life and non-life offerings but with much larger scale and capital base.
• Allianz Africa (Allianz Côte d'Ivoire Assurances): Global incumbent operating in WAEMU and broader Africa with P&C and life offerings. Comparable to L'Africaine in product lines but part of a much larger holding with superior capital, reinsurance access, and digital capabilities.
• Sanlam Pan-Africa: South African-headquartered financial services group with insurance operations across Africa. Comparable to L'Africaine in multi-line life and non-life offerings but with much larger scale, capital base, and South African technical expertise.
• AXA Africa (AXA Côte d'Ivoire Assurances): Global incumbent's African arm, with material presence in Côte d'Ivoire and other WAEMU markets. Offers comparable IARDT and life products but with broader global balance sheet, brand equity, and investment in digital channels; competes with L'Africaine in Greater West Africa.

Direct peers

• SUNU Group: Pan-African insurance group present in 16+ African countries across life and non-life. Comparable multi-line, multi-country general insurance franchise competing with L'Africaine in WAEMU, with similar reliance on agency distribution and bancassurance partnerships.
• Assinco Assurances (Bénin): Benin-based IARDT insurer and direct competitor in the same domestic market with only 7 IARDT companies. Highly comparable in product mix, customer base, and regulatory regime (CIMA).
• NSIA Assurances: Leading pan-African insurance group headquartered in Côte d'Ivoire, operating across UEMOA and CEMAC in both life and non-life. NSIA is L'Africaine's most direct competitor in the West/Central African IARDT space, with deeper pan-African footprint and product overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xfacebook.com/africainedesassurances
• LinkedInlinkedin.com/company/lafricaine-des-assurances
• Facebookfacebook.com/lafricainedesassurances

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about L'Africaine des Assurances