NCA Re, first year in the green

For its first year, NCA Re has reported a net profit of 180 million FCFA (377 700 USD) for a turnover of 6.3 billion FCFA (13.2 million USD). The result in 2013 is supported by premium income well above the forecast of the Ivorian reinsurer.

Note that NCA RE will not distribute dividends during its first 3 years of operation. The company also expects a 28% increase in turnover in 2014. It should reach 8 billion FCFA (17 million USD) next year.