Insurance Cameroon chooses Finactu for the creation of a national reinsurer
The Cameroonian Government and the Association of Insurance Companies of Cameroon (ASAC), in the framework of an international call for tender, have chosen FINACTU to support them in their project to create a national reinsurer owned by the companies. direct insurance, the state and a strategic partner. Through this project, Cameroon joins the list of African countries that have their own national reinsurance structure (Morocco, Tunisia, Algeria, Kenya, Tunisia, Ghana, Tanzania, Sudan, Senegal, Gabon, Namibia, Nigeria …), in order to protect their balance of payments by optimizing local capacities. FINACTU is supporting ASAC and the Cameroonian government in their upstream reflection to define the strategic orientations of the new company, its growth ambitions, the level of capital enabling it to achieve its ambitions and the configuration of its shareholding. FINACTU urged ASAC to include in its capital an international strategic partner that would bring all its know-how and technical expertise to accelerate the development of Cameroonian society. In this framework, FINACTU has already identified several strategic partners interested in the ASAC project, and has started discussions and talks with the “shortlisted” actors to discuss the terms and conditions of the strategic partnership and select the ideal partner for this new company. For Géraldine MERMOUX, Associate Managing Director of FINACTU, “The participation in the capital of this new company is a great opportunity for an international strategic partner who wants to enter a new market, especially in the CIMA zone, with the possibility to eventually develop more globally, throughout Africa. Balanced governance between partners will undoubtedly facilitate the transfer of know-how and technology as well as support for the implementation of good practices. ” Through this mission, FINACTU confirms its intimate knowledge and proven expertise in the African insurance and reinsurance market, as well as its mastery of the CIMA context, built through the support of numerous insurers and major reinsurers (Africa Re, Continental Re, Central Reinsurance Company, MAMDA, ARO, etc.).