Ecobank Togo, SUNU launch premium life policy targeting affluent clients

Finance

Friday, 27 February 2026 13:14

Ecobank Togo, SUNU launch premium life policy targeting affluent clients

(Togo First) - Ecobank Togo and SUNU Assurances Vie Togo have partnered to launch Protectys Premium, a life insurance policy targeting middle- and high-income clients, in a move that reflects growing momentum in bancassurance across West Africa.

The product, distributed through Ecobank’s branch network, offers a lump-sum payout in the event of death or total and permanent disability, alongside a long-term savings component. It is available to Ecobank account holders aged 18 to 74, an upper limit above the market standard, typically set around 64.

“It is an insurance product that allows clients to pay a modest premium in exchange for significant capital protection for their families,” said Maurice Mawutodji Mortey, product lead at Ecobank Togo. The policy does not impose a maximum coverage limit, setting it apart from more conventional life insurance contracts in the market.

The offer is positioned for clients seeking to build substantial capital for beneficiaries, a segment that remains underdeveloped in Togo, where life insurance penetration is below 1% of GDP.

Strategic alignment

The partnership brings together two leading players in Togo’s financial sector. Ecobank Togo is the largest subsidiary of the pan-African Ecobank Group, which operates in 35 countries and serves more than 32 million customers. The group was named “Innovative Bank of the Year 2025” by The Banker magazine.

SUNU Assurances Vie Togo, part of the SUNU Group, operates within a network spanning 17 countries and 26 insurance companies. The company says it led the Togolese life insurance market in 2023 and 2024, with share capital of 3 billion CFA francs.

The rationale behind the partnership is based on distribution leverage. By using Ecobank’s banking infrastructure, SUNU gains access to an already segmented and banked customer base.

For Ecobank, the move expands its integrated financial services offering. This is a strategic priority as African banks face mounting competition from fintechs and increasing pressure to retain higher-value clients.

Competitive landscape

Joint product development between banks and insurers remains relatively limited in Togo, although bancassurance is expanding. Orabank Togo offers a dedicated range of bancassurance services, while other institutions distribute insurance products through partnerships with established market players.

NSIA Banque Togo operates in close coordination with NSIA Assurances. Cofina Togo, a mesofinance institution, also maintains a dedicated unit for insurance distribution.

Across the West African Economic and Monetary Union, banks and insurers are increasingly deepening partnerships to capture customers who traditionally separate savings and protection products.

Beyond product innovation, the broader challenge remains financial literacy. In a country where life insurance penetration remains low, sustained growth in the segment will depend not only on distribution capacity but also on improving public understanding of long-term financial protection.

Ayi Renaud Dossavi

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.