Cameroonian companies targeted by CIMA

The Cameroonian market is on CIMA’s mind. The regional commission of insurance supervision (CRCA) has recently warned insurance companies against certain practices and irregularities spotted during different control operations. Since then, the situation has improved. Samiris, which posted a turnover of 1 722 million FCFA (3 462 942 USD) in 2011, has definitively discontinued its operations following the withdrawal of its license by CRCA.
CChanas Assurances, the second company targeted, conducted in mid-November 2012 a reorganization of its management. Pending the appointment of a general manager, the board of directors has appointed Henri Ewelé deputy general manager in charge of technical operations and Dominique Pheulpin deputy general manager in charge of administration and finance. Jacqueline Casalegno, current CEO, will be nominated chairman of the board before March 31, 2013.
Jean Claude Yossa has quit Area Assurances, third company prosecuted by CRCA to join PRO ASSUR. Finally, the Assurances Générales of Cameroon remains under CIMA’s watch.