Insurance in Mali

Mali's insurance system includes statutory social protection, private life and non-life insurance, microinsurance and mutual arrangements. CIMA is the regional insurance framework that governs member states, including Mali. The regional control body is CRCA, while the Minister grants relevant approvals. In Mali, DGTCP supervises the market, monitors insurers and intermediaries, handles complaints, follows State insurance contracts, and oversees matters connected with Fonds de Garantie Automobile Mali and Carte Brune. DGTCP also publishes an annual market report. The latest accessible official figures in the supplied research are for 2022. They recorded 13 licensed insurers: 9 non-life companies and 4 life companies. Premiums reached FCFA 70.411 billion, compared with FCFA 64.650 billion in 2021, an increase of 8.91%. Regulated commitments were FCFA 79.364 billion, admitted assets were FCFA 86.675 billion and coverage was 109.21%. No verified official aggregate for 2023 to 2026 is available in the reviewed material, so the 2022 figures should not be extrapolated to later years. Social insurance is administered through different institutions. INPS covers private and parapublic employees as well as self-employed, liberal, artisanal, commercial and industrial workers. Its branches cover family burdens, ATMP, meaning work accidents and occupational diseases, old age, invalidity and death. The INPS contribution rates recorded in the research are 1% to 4% paid by the employer for ATMP, 7% for retirement split into 3.6% for the employee and 3.4% for the employer, 2% paid by the employer for invalidity and survivors, 8% paid by the employer for family benefits, and 6.56% for AMO, split into 3.50% for the employer and 3.06% for the employee. AMO is compulsory health insurance covering illness and maternity for insured people and their dependants within its legal scope. CANAM administers AMO. CMSS provides social security for public-sector groups formerly covered through the public administration system, including retirement, delegated AMO and ATMP protection for public, territorial, military and parliamentary personnel. The CMSS ATMP contribution recorded in the research is 1.5% paid by the employer. INPS access is evidenced across 8 regions, 21 circles and the 6 communes of Bamako; CMSS operates through 9 regional directorates and 44 centres. ANAM and RAMED provide non-contributory medical assistance and are distinct from contributory insurance schemes. Private insurance includes life and non-life policies. An insurer or intermediary generally assesses the applicant, the insured object or activity, the risk information and the requested guarantees before setting the premium. One evidenced example is AFG Assurances Mali, which offers CIMA-approved non-life and microinsurance products such as motor cover, MRH, meaning multi-risk home insurance, professional and stock cover, group health cover and travel insurance. This example does not establish a complete market-wide product list or uniform prices. Private access is evidenced especially through agencies and providers in Bamako, Kati, Ségou and Sikasso, while formal social insurance access has a wider national footprint. Motor third-party liability is compulsory for the owner or responsible person before a vehicle circulates. The CIMA certificate is affixed to the vehicle, and the insurance attestation is issued free of charge. The motor premium is freely priced but may not fall below the applicable CIMA-approved minimum tariff. Typical documents include the vehicle registration document, driving licence and identity document. DGTCP follows the Fonds de Garantie Automobile Mali and Carte Brune arrangements. Property and liability policies can cover fire, explosion, lightning, water damage, theft, broken glass, equipment, stock and family or business liability, but exclusions, limits and deductibles depend on the individual contract. Mali has no evidenced national universal agricultural insurance scheme in the supplied research. A functional alternative is an AFG and CSA pilot for the 2024-2025 campaign. It targeted 14,307 producers and indemnified more than 7,000 people in rice, maize, sorghum and cotton production in Kayes, Koulikoro, Ségou and Sikasso. The pilot addressed climate and natural-catastrophe risks, but it does not create a general entitlement. FNAA is a fund for agricultural risk and calamity support, not an insurance contract. Microinsurance requires separate CIMA approval. Possible distributors and intermediaries include brokers, agents, banks, post offices, microfinance institutions, health mutuals, agricultural cooperatives and groups, NGOs, development agencies, associations, tontines, funeral funds, unions, mobile operators, health providers and food retailers. Access is mainly formal but fragmented. An informal mutual-aid arrangement or tontine is not automatically licensed insurance; its legal force and benefits depend on its registration, agreement and any applicable CIMA authorization. To obtain private cover, use a licensed insurer or intermediary, request a quotation, and check the guarantees, exclusions, insured sum, deductible, territorial scope, start date, renewal terms and claim procedure. Submit the requested identity, vehicle, property or risk documents and pay the agreed premium. The policy should identify the parties, insured person or object, covered risks, start and duration, insured sum, premium and payment terms, renewal and termination rules, disclosure duties, other insurance, claim method, payment deadline, damage assessment and prescription period. Exclusions, nullity clauses and forfeiture clauses should be conspicuous. Insurance contract tax also applies under Mali tax law. The insured should provide truthful information, pay premiums and notify claims within the policy's required period. The insurer provides the agreed contractual benefit within the covered scope and while the policy remains valid. For motor bodily injury, the current CIMA amendment provides for an offer within a maximum of 6 months after the accident when consolidation has been certified. In a death case, the offer is due within 1 month after the complete required documents and no later than 6 months after the death. A motivated response is due within 15 days, and payment is due within 15 days after the applicable transaction-denunciation period. Delay interest is 5% per month. Notice of an accident more than 1 month late suspends the offer period. The special Article 231 offer regime does not cover vehicle damage without bodily injury. Policy duration and termination clauses control changes of cover. For non-life insurance, termination is generally available annually after the first year with at least 2 months' notice. The stated exceptions include individual health, construction and non-person risks; life insurance is excluded from this rule. A change of domicile, profession, retirement or marital status can permit termination within 3 months, taking effect 1 month later with a pro-rata premium refund. After a claim, the insurer may terminate within 3 months with 1 month's notice. The applicable contract should be checked because cover, timing and exceptions can differ by policy.