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Madagascar: Insurance, a reality slightly underway in the Island




The insurance sector in Madagascar presents a penetration rate of 0.7%. This places the Island among the lowest insured countries on the planet. The sector's share in the country's GDP is close to only 1%.
 
Thus, only automobile insurance is compulsory in Madagascar. The assurances for the house to prevent natural disasters or to cope with a fire damage remains optional.
 
The lower purchasing power of Malagasy households and the lack of communications campaigns on the theme explains the widespread lack of interest of the population by professionals of the sector.



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