**Fatshimetry**
The insurance sector in the Democratic Republic of Congo (DRC) has seen significant growth in recent years, with turnover reaching $320 million in 2023. This impressive development contrasts sharply with the modest $70 million recorded in 2018. A revelation which was made by Alain Kanyinda, the general director of the Insurance Regulatory and Control Authority in the DRC (ARCA), during the presentation of the state of the insurance market for the financial years 2021 and 2022 .
Since the liberalization of the sector in 2015, followed by its entry into force in 2018, the DRC’s market share in the insurance sector in Africa is around 0.5%. On the African continent, which represents 1% of the global insurance market estimated at $74 billion, South Africa largely dominates with 70% market share. On the other hand, countries like Morocco, Algeria, Kenya and Nigeria share 18% of the market. Other African countries, including the DRC, share the remaining 12%, according to Alain Kanyinda.
This meteoric growth of the insurance market in the DRC has attracted the attention of investors who see considerable development potential in this sector. To support this dynamic, the ARCA management team plans to establish an environment conducive to the development of operators, thus guaranteeing the reliability of the services provided to policyholders.
This notable progression in the insurance sector in the DRC demonstrates the growing interest of economic players in protection and risk management. It also reveals the desire of the Congolese authorities to encourage the participation of investors in key sectors of the national economy, thus promoting sustainable and balanced economic growth.
In short, the insurance market in the DRC offers promising prospects and constitutes an essential lever for the economic development of the country. The increase in turnover in this strategic sector illustrates the growing maturity of the Congolese economy and its capacity to attract local and foreign capital. This positive dynamic is expected to continue in the years to come, thus strengthening the role of insurance in the protection of property and people, while contributing to the stability and prosperity of the DRC.