Closing of the FANAF general assembly

The 40th general assembly of the Fédération des sociétés d’Assurances de Droit national africaines (FANAF) came to a close on Thursday February 18, 2016 in Abidjan.

The meetings were an opportunity for the organization to reaffirm its commitment to raise the level of insurance in Africa.

Seven resolutions were adopted in this respect among which are the following:

• the approval of the activity report and financial statements for the year 2015,
• the adoption of the 2016 budget showing a balance between revenues and expenditure at 761 450 000 FCFA (1 292 942 USD),
• the keeping of the contribution of each member company to 2.5 million FCFA (4 245 USD) payable before May 31, 2016,
• the payment of a 20 million FCFA (33 960 USD) subsidy to the International Institute of Insurance (IIA) of Yaounde for the year 2016,
• the implementation of actions favouring quick and efficient settlement of claims: friendly report, electronic report,...

The Federation emphasized the need for innovation in insurance following the emergence of a new category of insured having the needs of more suitable insurance covers.

The general assembly also approved the membership applications of six new insurance companies from Benin, Burkina Faso, Cote d'Ivoire, Gabon, Equatorial Guinea and Senegal to join the FANAF .