The CIMA withdraws the license of Satellite Insurance Company

In the course of its last session held on December 12, 13, 2006, in Libreville (Gabon), where its headquarter is established, the CIMA has announced the withdrawal of the license of the company Satellite Insurance Company for non-compliance with the regulations in force.

CIMA's sanction comes at a time when a joint control mission involving the Association des Sociétés d'Assurance du Cameroun (ASAC) and the Ministry of Economy and Finance are stepping up efforts in order to hunt any fraudulent practices within the profession.