Senegal

The Insurance and Risk Finance Facility works with public and private partners to build the financial resilience of countries, households, businesses, nature and food systems.
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We work on the development and delivery of tailored insurance and risk finance solutions across five key areas.
We work with governments and insurance industry partners to develop insurance solutions tailored to the actual needs of countries and communities.
Our in-country work takes a systems approach, focusing on the enabling environment as well as the market conditions needed for insurance and risk finance solutions to deliver financial resilience at scale.
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Flood, Drought, Tsunami
11.45% (2020)
1#65 out of 239 countries and territories (2023)
142% of primary sector employment (2022)
150.3% (2019)
110 life insurance companies, 19 non-life insurance companies and 1 national reinsurance company
122% (2022)
1As a Least Developed Country (LDC) reliant on agriculture, Senegal is extremely vulnerable to droughts, floods, sea-level rise and coastal erosion, which pose significant threats to the country’s development objectives. Situated mainly in the Sahel region, the country experiences rising temperatures and highly variable rainfall, increasing dependence on food imports and challenging poverty and food security strategies.
UNDP is working with Senegal’s government and partners to build institutional capacity and an enabling environment, innovate in insurance market development and integrate risk finance and risk transfer into financial management and economic development.
Increasing capacity to better manage risks
UNDP Insurance and Risk Finance Facility’s LDC Engagement Initiative is focused on helping Least Developed Countries increase their technical capacity to manage risk in the face of increasing climate challenges and limited financial resources. Under the Engagement Initiative, UNDP is working with Senegal’s government to develop institutional capacity and increase available data on risk and its impacts.
UNDP is also supporting the development of a disaster risk finance strategy and the integration of risk finance into public financial management, and assisting in building an enabling regulatory environment for insurance development.
Incentivizing the development of new insurance products and services across emerging economies
UNDP’s Insurance Innovation Challenges are powering a new generation of insurance products and services tailored to underserved households and businesses in developing economies.