Morocco, Wafa Assurance sets foot in Cameroon

Wafa Assurances has applied for license at the Inter-African Conference of Insurance Markets (CIMA) which is tasked with the regulation of the insurance sector in Central and Western Africa. The Moroccan insurer, keen on opening a life subsidiary in Cameroon, has been granted favorable reply from the commission. It is joining the Société Commerciale de Banque (CCB), subsidiary company of the parent company Attijariwafa, which is in possession of an important distribution network.

CIMA has also authorized Wafa Assurance for the establishment of a life and a non life insurance companies in Côte d’Ivoire.