Managing Dir. message

Mr. Jean Baptiste N. KOUAME

CICA-RE is a Community Reinsurer of the CIMA (Interafrican Conference of Insurance Markets) operating for 34 years.

Indeed, the CICA-RE was created in 1981 by the twelve (12) Member States of the Francs zone of that time, namely: Benin, Burkina Faso, Cameroon, Central African Republic, Congo, Ivory Coast, Gabon, Mali, Niger, Senegal, Chad and Togo.

These twelve States had constituted in the 1970s the International Conference of Insurance Controls (CICA) became CIMA in 1992 with the signing of the CIMA treaty by the member states of the franc zone.

Alongside the founding states, fifty-nine (59) insurance and reinsurance companies, as well as two (02) financial institutions in charge of development are now included in the company's shareholding, namely: the West African Development Bank ( BOAD) and the African Solidarity Fund (FSA).

CICA-RE, which started its technical operations on all the markets of the Member States with effect from 1 January 1984, has always enjoyed profitable exploitation, thus reinforcing its reputation from year to year.

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 and Financial institutions.

It should be noted that the shareholders of CICA-RE have recently decided to increase the share capital to 76.224 million euros by cash contribution of 30 million euros over the period 2018-2020.

At the end of this capital increase operation, which will see the entry of new financial institutions into the shareholding, Member States will hold 55% of the capital.

At the operational level, CICA-RE currently has five (05) production sites: Lome - TOGO which houses the Headquarters of the Company, then Douala - CAMEROON which houses the Regional Office for Central Africa, and Abidjan - COTE D IVORY as a site of the Regional Office of West Africa.

The Company also has a Contact Office in Nairobi - KENYA to develop business opportunities in Eastern and Southern Africa. This Contact Office will be transformed into a subsidiary no later than early 2019.

In 2016, CICA-RE achieved an overall turnover of 58.3 million euros against 50.60 million euros in 2015. The business carried out in CIMA zone represents 51% of the global turnover, while those of the rest Africa and the rest of Africa represent 30% and 19% respectively. Legal divestments represent 23% of total sales.

The combined ratio stood at 88% in 2016 compared to 86% in 2015.

The vision of CICA-RE, you have understood, is to be the leader of the CIMA zone and a key operator on the African continent. This is why the mission of CICA-RE will remain firmly established in this triptych:

- Promote the development of national Insurance and Reinsurance activities in member countries;

- Promote the growth of national, sub-regional and regional underwriting and retention capacities;

- Contribute to the economic development of the CIMA zone in particular and Africa in general.

To achieve these objectives, the CICA-RE has a Strategic Plan for 2009 - 2020 Development which is organized in a synthetic way around the following main axes:

- Strengthening the financial surface;

- healthy growth in sales;

- Opening of new offices across Africa;

- Optimization of financial operations;

- Promotion of good governance;

- Building lasting relationships with reputable rating agencies.

- Good dividend distribution policy;

At the end of eight (08) years of implementation of the strategic development plan, we can say today that the plan is going well, to the great satisfaction of shareholders and partners.

In fact, the plan had to undergo two successive revisions (2014 and 2018), by which the initial 2020 forecast turnover was increased from 60 million euro to 107 million euro. Dividends were regularly distributed to the shareholders and the company was able to obtain an AM BEST B rating, which was heavily influenced, among other things, by the sovereign rating of the member states, which it is working to improve to guarantee its credibility and support its quest permanent excellence.

Despite the performance achieved in recent years by some African insurance markets and by certain players in the sector, the weight of African insurance remains very low in the world insurance (around 1.5%) and the penetration rate (Africa including South) stands at 2.9% against + 8% in Northern Europe and North America. Excluding South Africa, the weight is even lower and the penetration rate is barely 1%. It goes without saying that operators in the insurance sector, all sectors combined (insurer, reinsurer, insurance and reinsurance intermediary) still have a lot to do for the development of the sector.

And that will happen, it will happen to me, without this enumeration being exhaustive by:

- The restoration of confidence in the sector largely thanks to the rapid settlement of claims.

- Improvement of the working methods without forgetting the taking into account of digitization which is fast approaching.

- The advent of operators having a critical size to withstand competition.

- The development of micro insurance.

- Improvement of the regulations.

- And of course, the stability in the African States and the increase of the purchasing power of the populations.

For its part, CICA-RE has for some years made provisions that will allow it to play its full part.


To all our partners and business relations, to whom we wish to express our gratitude for the constant support we say : THANK YOU, the work goes on !


Jean Baptiste N. KOUAME

Managing Director

Discover CICA-RE

Established in 1981 by the Member States of the International Conference on Insurance Controls (CICA), which became the Inter-African Insurance Markets Conference in 1992, CICA-RE began operations on 1 January 1984.

Read more

Key figures


Galerie photos