The Ivorian state will sell the 21,54% of assets held by the CNCE – (the national fund of Caisses d’Epargne), the public bank undergoing restructuring – in the capital of La Loyale Vie Assurance.
The transfer operation – launched this January 15 – will be through a call for tenders in the direction of “natural and legal persons having alone or in consortium the necessary financial capacities” indicates the communiqué of the national privatization committee, structure dependent on the Prime Minister Ivorian.
“As bancassurance is an important focus of La Vie Vie’s development strategy, the participation of credit institutions in the call for tenders is highly desirable,” the document says.
Loyal Life has integrated into 2016 the 5 top of the Ivorian life insurance market with an estimated market share of 8,5%.
End 2016, life insurance has earned a turnover of 133,5 billion FCFA, 203,5 million euros, up 12% over one year. And overall this segment represents 44% of the insurance sector.
