No national Insurance company was existing until 1977.Only foreign brokers were operating in the insurance industry. Anxious to restore that sector and in order to ensure efficient protection of individuals and enterprises' capital, the government of Burundi established a national insurance company : société d'Assurances du Burundi(SOCABU) on the 29th of July 1977 with the monopoly in the Burundi insurance industry.

From 1985, the Government of Burundi thought it worth handing over some of its share to certain public and private enterprises, notably banks and financial institutions. Today, the State participation in the SOCABU shareholding is estimated to 25% the other part being let to moral and natural persons.

The BCB represents 1,81 % of the shares of the SOCABU today.