Unclaimed life insurance policies: Allianz Cameroun pays 2.4 million USD to CDEC

Allianz Cameroun officially transferred 1.5 billion FCFA (2.4 million USD) to the Caisse de dépôts et consignations (CDEC) on 31 October 2023. The transfer concerns 3 523 unclaimed life insurance policies. Alliance Cameroun is the first company to pay its dues to CDEC.

CDEC is required to return the sum to the beneficiary or rightful claimant who presents the necessary supporting documents. Under the law of 14 April 2008 governing deposits and consignments, sums deposited with the CDEC will be definitively reverted to the State after a period of 30 years.

The CDEC was created in 2008. Its first directors, including Richard Evina Obam as CEO, were appointed in January 2023.