Mauritania hosted, Dec.8-9, its National Insurance Conference in Nouakchott, aimed at modernizing a sector that currently contributes only 0.33% of GDP, far below the African average of 2%.
The conference, organized by the Central Bank of Mauritania (BCM) following the adoption of new legislation in September 2025, brought together hundreds of insurance professionals, experts, investors, and members of the security forces.
The Mauritanian insurance market remains heavily concentrated in auto insurance, which accounts for 74% of all policies, despite growing steadily since 2020 in the non-life segment. Sector analysts from Finactu Consulting and Corporate Finance highlighted the market’s strong growth potential, projecting that reforms could triple or even increase the market ninefold.
BCM officials emphasized the strategic role of insurance in protecting individuals, businesses, and property, while supporting employment and consolidating the economy. The upcoming Nouakchott Stock Exchange is expected to see insurance companies act as major institutional investors, following an agreement signed in April 2025 between the BCM and the Casablanca Stock Exchange for capacity building and knowledge sharing. The conference aims to culminate in a program contract between the BCM and insurance companies and to set the groundwork for substantial sector reforms and modernization in Mauritania.
