Average Insurance Manager Salary in Lome, Togo for 2026
In this article, we will look at the average Insurance Manager salary for 2026 in Lome and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!
The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.
All salary information is in the local currency, which is the West African CFA franc. To keep things simple, we are using the XOF currency code instead of the currency symbol Fr.
How Much Does an Insurance Manager Make in Lome?
An Insurance Manager working in Lome will typically earn around 12,239,700 XOF per year, and this can range from the lowest average salary of about 6,480,800 XOF to the highest average salary of 18,598,500 XOF.
These are average salaries for an Insurance Manager in Lome and include benefits such as housing and transport. It's also possible for an Insurance Manager to earn more or less than the average salaries shown above.
Insurance Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.
Distribution of Insurance Manager Salaries in Lome
So we've looked at the average salaries an Insurance Manager will earn in Lome. The next interesting data point is the distribution of salaries.
Salary ranges
We already know that an Insurance Manager can earn between 6,480,800 XOF and 18,598,500 XOF on average in Lome. This is known as the range in statistics.
The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.
Median salary
The median salary for an Insurance Manager in Lome is 11,485,600 XOF. This is the middle value in the distribution of salaries.
What this means is that approximately 50% of the population earn less than 11,485,600 XOF, and 50% of the population earn more than 11,485,600 XOF.
If you are earning more than the median salary, that's a good indicator that you are being paid well.
If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).
Percentiles
Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.
For the average Insurance Manager salary in Lome, 25% of the population are earning less than 8,087,400 XOF while 75% of the population earn more than 8,087,400 XOF.
75% of the population earn less than 14,158,800 XOF, and 25% of the population earn more than 14,158,800 XOF.
Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.
The difference between a median and an average salary
The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.
- If your salary is higher than the average and the median salary, you are earning well compared to others.
- If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
- If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.
Insurance Manager Salary by Experience Level in Lome
The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.
We have researched the average Insurance Manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.
- 0 - 2 Years Experience. An Insurance Manager in Lome that has less than two years of experience can expect to earn somewhere in the region of 7,441,400 XOF.
- 2 - 5 Years Experience. With two to five years of experience the average Insurance Manager salary would increase to 9,142,700 XOF.
- 5 - 10 Years Experience. From five to ten years of experience as an Insurance Manager, the average salary would be 12,958,200 XOF.
- 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 15,118,700 XOF.
- 15 - 20 Years Experience. An Insurance Manager with 15 to 20 years of experience can earn an average of 16,679,800 XOF.
- 20+ Years Experience. For an Insurance Manager with more than 20 years, the expected average salary increases to 17,640,500 XOF.
Average Salary by Experience Chart
| 0-2 Years | - | 7,441,400 XOF |
| 2-5 Years | +23% | 9,142,700 XOF |
| 5-10 Years | +42% | 12,958,200 XOF |
| 10-15 Years | +17% | 15,118,700 XOF |
| 15-20 Years | +10% | 16,679,800 XOF |
| 20+ Years | +6% | 17,640,500 XOF |
Insurance Manager Salary by Education Level in Lome
As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?
In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.
The salary you can earn based on your education is very specific to both your location and the career path you choose.
In our research, we looked at the average salary for an Insurance Manager in Lome based on the education level of the employees in order to find out whether a better education level would increase your salary.
- Bachelor's Degree. An Insurance Manager in Lome with a bachelor's degree education can earn an average salary of 8,411,800 XOF.
- Master's Degree. An Insurance Manager in Lome with a master's degree education can earn an average salary of 16,320,700 XOF.
Average Salary by Education Chart
| Bachelor's Degree | - | 8,411,800 XOF |
| Master's Degree | +93% | 16,320,700 XOF |
How Much is a Master's Degree or MBA Program?
The approximate cost of a master's degree or post-graduate program like an MBA in Togo is around 2,640,000 to 7,910,000 XOF and takes two years to complete.
As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.
It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.
Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.
Insurance Manager Salary Compared by Gender
In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.
In Lome, a male insurance manager will earn an average of 11,998,600 XOF, while a female insurance manager will earn around 10,212,200 XOF.
This means that a male insurance manager earns approximately 17% more than a female insurance manager for performing the same job.
Average Salary by Gender Chart in Lome
| Male | - | 11,998,600 XOF |
| Female | -17% | 10,212,200 XOF |
Insurance Manager Average Pay Raise in Lome
In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.
From our research, we can see that the average pay raise for an Insurance Manager in Lome is around 9% every 30 months.
The national average pay raise across all professions and industries in Togo is around 5% every 28 months.
In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.
To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:
Annual Increase = ( Increase Rate ÷ Months ) × 12
So for this example, it would be:
Annual Increase = ( 9 ÷ 30 ) × 12 = 4%
What this means is that an Insurance Manager in Lome can expect to receive an average pay raise of around 4% every 12 months.
Annual Pay Raise by Industry in Lome for 2026
In the chart below, you can see the average annual pay raise percentages for each of the major industries in Togo.
You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.
| Banking | - | 9% |
| Energy | - | 9% |
| Information Technology | - | 9% |
| Healthcare | - | 9% |
| Travel | - | 9% |
| Construction | - | 9% |
| Education | - | 9% |
Insurance Manager Bonus and Incentive Rates in Lome
Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.
Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.
An Insurance Manager is a moderate bonus based job, with 68% of employees reporting at least one bonus in the last 12 months.
32% reported that they had not received any bonuses in the previous 12 months.
For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.
| Received Bonus | - | 68% |
| No Bonus | - | 32% |
What are the Types of Bonus?
There are a number of difference types of bonus you can receive in a job. Including:
- Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
- Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
- Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
- Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.
Government vs Private Sector Salaries
Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.
Public sector employees in Togo earn approximately 25% more than private sector employees in the same role.
| Public Sector | - | 7,020,500 XOF |
| Private Sector | -25% | 5,628,400 XOF |
Salaries for Jobs Similar to an Insurance Manager
In the table below, we have salary information for jobs that are similar to an Insurance Manager in Lome.
| Job Title | Category | Salary |
|---|---|---|
| Actuarial Analyst | Insurance | 9,001,900 XOF |
| Actuarial Assistant | Insurance | 6,433,500 XOF |
| Actuarial Specialist | Insurance | 5,989,600 XOF |
| Actuary | Insurance | 9,036,900 XOF |
| Adjustment Insurance Clerk | Insurance | 2,460,900 XOF |
| Assistant Broker | Insurance | 4,019,900 XOF |
| Assistant Claims Manager | Insurance | 7,105,200 XOF |
| Associate Insurance Representative | Insurance | 3,455,900 XOF |
| Auditing Insurance Manager | Insurance | 9,995,000 XOF |
| Broker | Insurance | 6,648,800 XOF |
| Claim Advocacy Professional | Insurance | 6,613,100 XOF |
| Claims Adjuster | Insurance | 2,543,000 XOF |
| Claims Analyst | Insurance | 3,263,500 XOF |
| Claims Examiner | Insurance | 3,323,300 XOF |
| Claims Manager | Insurance | 9,166,100 XOF |
| Claims Processor | Insurance | 2,447,200 XOF |
| Claims Representative | Insurance | 2,831,100 XOF |
| Claims Resolution Specialist | Insurance | 7,224,700 XOF |
| Claims Supervisor | Insurance | 6,635,400 XOF |
| Complaints Specialist | Insurance | 5,784,200 XOF |
| Compliance Examiner | Insurance | 6,058,300 XOF |
| Compliance Officer | Insurance | 5,053,200 XOF |
| Compliance Reviewer | Insurance | 6,084,900 XOF |
| Consultant | Insurance | 6,382,300 XOF |
| Eligibility Interviewer | Insurance | 6,804,900 XOF |
| Eligibility Specialist | Insurance | 6,826,100 XOF |
| Insurance Account Manager | Insurance | 8,029,300 XOF |
| Insurance Accounts Executive | Insurance | 7,356,900 XOF |
| Insurance Adjuster | Insurance | 6,179,700 XOF |
| Insurance Agent | Insurance | 4,019,900 XOF |
| Insurance Analyst | Insurance | 6,118,800 XOF |
| Insurance Appraiser | Insurance | 6,804,900 XOF |
| Insurance Claims Clerk | Insurance | 2,314,800 XOF |
| Insurance Examiner | Insurance | 5,806,300 XOF |
| Insurance Investigator | Insurance | 6,058,300 XOF |
| Insurance Operations Manager | Insurance | 10,824,400 XOF |
| Insurance Policy Processing Clerk | Insurance | 2,435,600 XOF |
| Insurance Pricing Assistant | Insurance | 5,256,700 XOF |
| Insurance Program Manager | Insurance | 8,902,700 XOF |
| Insurance Project Manager | Insurance | 8,134,400 XOF |
| Insurance Quality Assurance Agent | Insurance | 5,591,900 XOF |
| Insurance Sales Agent | Insurance | 3,946,200 XOF |
| Insurance Sales Director | Insurance | 11,173,600 XOF |
| Insurance Sales Manager | Insurance | 8,650,700 XOF |
| Insurance Sales Representative | Insurance | 3,514,400 XOF |
| Insurance Team Leader | Insurance | 6,613,100 XOF |
| Insurance Underwriter | Insurance | 4,895,800 XOF |
| Loss Control Specialist | Insurance | 6,442,400 XOF |
| Loss Prevention Investigator | Insurance | 7,057,300 XOF |
| Loss Prevention Manager | Insurance | 9,073,200 XOF |
| Loss Prevention Specialist | Insurance | 6,745,700 XOF |
| Marine Underwriter | Insurance | 4,981,700 XOF |
| Medical Auditor | Insurance | 6,552,400 XOF |
| Monitoring and Performance Officer | Insurance | 4,391,800 XOF |
| Payment Services Specialist | Insurance | 6,804,900 XOF |
| Policy Change Director | Insurance | 9,925,000 XOF |
| Policy Change Supervisor | Insurance | 6,971,100 XOF |
| Policy Change Technician | Insurance | 3,168,300 XOF |
| Risk Analyst | Insurance | 7,561,700 XOF |
| Risk Management Director | Insurance | 11,998,600 XOF |
| Risk Management Supervisor | Insurance | 7,907,600 XOF |
| Risk Manager | Insurance | 11,963,400 XOF |
| Risk Modeling Manager | Insurance | 12,121,000 XOF |
| Title Insurance Typist | Insurance | 5,507,100 XOF |
| Training Manager | Insurance | 7,007,800 XOF |
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