CORPORATE RISKS
PERSONNAL ACCIDENT
INTERNATIONAL
RISK MANAGEMENT
CREDIT & FACTORING
Bordeaux
Paris Lyon
FILHET-ALLARD COTE D’IVOIRE
Toulouse
La Rochelle Genève Madrid
HAMZA CHLEUH + 225 07 17 71 15 @
[email protected]
www.filhetallard.com N° ORIAS : 07 000 514 www.orias.fr
October 2014
FILHET ALLARD GROUP COMPANY KEYS FACTS
Filhet Allard Group
Revenue Breakdown
Established in 1895 – Headquartered in Bordeaux 7th largest corporate broker in France (Argus May 2014) Family owned / Independent Turnover 2013 : EUR 126 millions Premium collected : +EUR 1 billion +900 staffs in 7 locations :
Bordeaux Lyon Toulouse Geneva
Madrid Paris La Rochelle Abidjan
Filhet-Allard & Cie – Ivory Coast and Cima Zone
Property & Casualty:
37 %
Affinities ins. program:
36 %
Employee benefits:
14 %
Marine:
11 %
Credit insurance:
2%
October 2014
2
IVORY COAST INSURANCE MARKET 1. IVORY COAST
Population : 22,848,945
GDP : $43.67 billion (2013 est.)
GDP growth rate : 8%
Agriculture-Products : coffee, cocoa beans, bananas, palm kernels, corn, rice, cassava (manioc, tapioca), sweet potatoes, sugar, cotton, rubber; timber
Industries : foodstuffs, beverages; wood products, oil refining, gold mining, truck and bus assembly, textiles, fertilizer, building materials, electricity
Exports partners : Netherlands 8.8%, US 8.1%, Nigeria 8%, Germany 7.5%, France 4.5%, Canada 4.2% (2012)
Imports partners : Nigeria 25%, France 11%, China 7.2% (2012)
Filhet-Allard & Cie – Ivory Coast and Cima Zone
October 2014
3
IVORY COAST INSURANCE MARKET 2. IVORY COAST INSURANCE MARKET PRIMARY MARKET OF THE CIMA ZONE
Ivory Coast has over 23% of share of the CIMA market
Global turnover : USD 464 millions in 2013
A growth of 12.8% between 2012 and 2013
37% of the written premiums are through brokers
Non Life Insurance
Life Insurance
• 18 companies
• 11 companies
• USD 259.5 millions (56%)
• USD 204.5 millions (44%)
• A growth of 14.2% for
• A growth of 11% between
the same period
Filhet-Allard & Cie – Ivory Coast and Cima Zone
2012 and 2013
October 2014
4
IVORY COAST INSURANCE MARKET 2. IVORY COAST INSURANCE MARKET MARKET SHARES 2012 Non Life
Life
• SAHAM (ex COLINA):
• COLINA Vie: 19.57%
22.5%
• UA Vie: 19.15
• NSIA: 13.2%
• NSIA Vie: 17.09%
• ALLIANZ: 10.18%
• ALLIANZ Vie: 15.08%
• LMAI: 8.33%
• LMAI Vie: 10.43%
• AXA: 6.65%
65%
Filhet-Allard & Cie – Ivory Coast and Cima Zone
81,3%
October 2014
5
THE CIMA ZONE 1. ORGANISATION OF THE CIMA CREATION
Filhet-Allard & Cie – Ivory Coast and Cima Zone
July 1992 : Creation of the inter-African conference of insurance markets (CIMA).
Acting supra-nationally, CIMA monitors the operations of insurance companies as well as the issuing and withdrawal of approvals.
15 Members : Benin, Burkina Faso, Bissau Guinea, Cameroon, Central african Republic, Comores, Congo, Equatorial Guinea, Ivory Coast, Gabon, Mali, Niger, Senegal, Chad, Togo.
October 2014
6
THE CIMA ZONE 2. OBJECTIVES
Reinforce the cooperation between member states in the area of insurance.
Develop insurance and reinsurance companies operating in the member states.
Promote investment in the economy of the region.
Create common structures, to help creating a wider integrated market.
Harmonization of laws and regulations related to insurance and reinsurance transactions.
Filhet-Allard & Cie – Ivory Coast and Cima Zone
October 2014
7
THE CIMA ZONE 3. THE CIMA CODE The Clean up
Reform of the article 13 of the CIMA Code about the collection of premiums Cash Before Cover Intermediaries can not collect premiums anymore
Reinforcement of controls on insurance companies and brokers Brokers must be locally present : approval is given country by country Limitation of intermediaries, obligation to undertake a Professional Liability insurance
Insurance companies are audited and sanctioned if needed Sanctions can be severe
Filhet-Allard & Cie – Ivory Coast and Cima Zone
October 2014
8
THE CIMA ZONE 4. PERSPECTIVES
Need for tax relief in order to make insurance products more attractive.
Need to make other products compulsory (e.g home insurance).
Need of defiscalisation of Supplemental life insurance.
Need of a unique approval for all the countries.
No total freedom yet to place the risks.
Filhet-Allard & Cie – Ivory Coast and Cima Zone
October 2014
9
FILHET ALLARD CI OUR NEW OPERATION IN IVORY COAST
Filhet-Allard has been involved in West Africa for decades in marine business mainly in commodities (cocoa, rice, sugar, etc…) with international and local clients like: -
COCAF Ivoire (NOBLE Group Hong-Kong) Conseil Café Cacao TOUTON CI Sako & Fils OLAM CI (OLAM Group Singapour) SONAM CI (Platinium Group Dubaï)
We applied for a license in Ivory Coast in 2013 because: • Our marine clients were more and more requiring that Filhet-Allard deals also with their P&C and employee benefit local programs • There are a huge potential economical growth, and • We share a common cultural legacy
We are now fully operative with an access to all the local insurance companies and able to assist you in P&C and EB with the support of the Filhet-Allard Group resources and capacities.
WE ARE PROUD TO BE PART OF BROKERSLINK AND LOOK FORWARD TO COLLABORATE WITH YOU IN THE NEAR FUTURE.
Filhet-Allard & Cie – Ivory Coast and Cima Zone
October 2014
10
HAMZA CHLEUH FILHET ALLARD CI
: +225 07 17 71 15 : +225 20 30 59 64 @ :
[email protected] 7 Avenue Noguès, Immeuble BSIC ABIDJAN PLATEAU 5th Floor – Office 508 01 BP 5754- Abidjan 01
Filhet-Allard & Cie – Ivory Coast and Cima Zone
October 2014
11