Signals are in the green at the African reinsurer CICA RE. The common reinsurance company of the member states of the International Conference of Insurances Controls (CICA) announced to have realized a profit of 2, 1 billion FCFA for the exercise 2013 against 1, 4 billion FCFA the previous year.
The excellent financial health of the reinsurer was reaffirmed by its managing staff on 26th June 2014 during the 32nd ordinary general meeting held in Abidjan (Ivory Coast). « The net profit released last year is the fruit of a rigorous subscription policy and the derived effects by reorganization measures of the markets of the CIMA zone « , indicated James Redombo, chairman of the company.
CICA-RE also registered substantial increase of its turnover (20, 25 %) moving from 21 ,5 billion in 2012 to 25, 9 billion FCFA in 2013.
CICA-RE started its activities on the African continent on 1st January 1984 with an initial capital of 600 million FCFA. The Company includes the member states of the International Conference of Insurances Controls (CICA) that are Ivory Coast, Gabon, Burkina Faso, Chad, Congo, Cameroon, Senegal, Togo, Benin, Mali, Niger, Central Republic of Africa.
Original text by: Blaise AKAME