As part of its strategic development plan, CICA-RE is setting up in Tunisia. A major breakthrough could be the CIMA Member State Joint Reinsurance Company (CICA-RE).
Jean Baptiste N.Kouamé, CEO of the company said it is a branch. This is not an accreditation in good and due form. The presence of the reinsurer of the CIMA zone in Tunis will make it possible to develop a win-win partnership for the benefit of all players in the insurance market thanks to the stable economic prospects of the sub-region.
In this vein, CICA-RE intends to collaborate with market players to develop a win-win partnership that can function as a growth incubator for the insurance industry in North Africa.
Created in 1981 by the twelve (12) member states of the then Francs zone (Benin, Burkina Faso, Cameroon, Central African Republic, Congo, Ivory Coast, Gabon, Mali, Niger, Senegal, Chad and Togo), the CICA -RE began its technical operations on all the markets of these states on January 1, 1984.
Together with the founding states, the company now holds 59 insurance and reinsurance companies, as well as two financial institutions responsible for development, namely the West African Development Bank (BOAD) and the Fund. Solidarity Fund (FSA).
Today, the fully paid-up capital of the Company, which amounts to 45.734 million euros, is 65% owned by the Member States mentioned above, and 35% by the insurance and reinsurance companies. financial institutions.
According to the CEO of the company, “the shareholders of CICA-RE have recently decided to increase the share capital to 76.224 million euros by contribution in cash of 30 million euros in the period 2018-2020” .
The CICA-RE achieved in 2016 a global turnover of 58.3 million euros against 50.60 million euros in 2015. The vision of the CICA-RE is to be the leader of the zone CIMA and a key player on the African continent.
At the operational level, adds the DG, CICA-RE currently has three production sites: Lomé (Togo) -which houses the headquarters of the company-, Douala (Cameroon) -which houses the Regional Office for Central Africa- , and Abidjan (Côte d’Ivoire) -as a site of the West Africa Regional Office. The Company also has a contact office in Nairobi, Kenya to develop business opportunities in Eastern and Southern Africa; which office will be transformed into a subsidiary in 2019.
Source: Webmanagercenter.com/Tunis
