CICA-RE
Designed as an instrument to serve reinsurance at a large regional scale, CICA-Re has, since its creation, benefited from the regulatory terms that allowed it to have mandatory cessions of all member states mentioned earlier as well as of the foreign companies operating on the same market.
This outright asset accounts for the CICA-Re's progressive development not only as regards the volume of business and turnover but also in terms of its financial capacities. Its share capital has grown from 600 million FCFA (1.119 million USD) to 6 billion FCFA (10.830 million USD) now.
Thanks to its dynamism and to the accrued experience, CICA-Re has been established over the years as a reference professional pole which enabled it to play the role of technical assistant at the regional level where it has provided its know-how in terms of training, consulting, audit, and products design.
 |  |
| Léon Paul Ngoulakia | Digbeu Kipre |
| Chairman of the Board of Directors (Gabon) | Managing Director |
CICA-RE in 2005
| Capital | 6 billion FCFA (10.830 million USD) |
| Turnover | 14.277 billion FCFA (25.772 million USD) |
| Net result | 819 273 000 FCFA (1.479 million USD) |
| Shareholder's equity | 10.537 billion FCFA ( 19.019 million USD) |
| Number of employees | 54 |
Management
Managing Director (Côte d'Ivoire) | Digbeu Kipre |
Deputy Managing Director (Congo Brazzaville) | Hippolyte Oyouba |
Regional Manager Douala Branch Office (Cameroon) | Kaya Whorr Kamadji |
Life Manager | Salifou Bakayoko |
Non life Manager | Aristide-Emile Kaneho |
Human Ressources Manager | Emmanuel Kikuta Buana |
IT Manager | Kodzo Konutse |
Finance Manager | Kodjo Kodjoakou |
Main shareholders
| Côte d'Ivoire | 29.315% |
| Cameroon | 13.607% |
| Senegal | 11.395% |
| Benin | 8.203% |
| Burkina-Faso | 7.163% |
| Gabon | 7.050% |
| Others | 23.267% |
Turnover'split by class of business: 2001-2005
in millions USD| 2001 | 2002 | 2003 | 2004 | 2005 | |
|---|---|---|---|---|---|
| Non life | |||||
Property | 8.01 | 11.03 | 17 | 21.02 | 14.61 |
Marine | 2.24 | 3.40 | 5.34 | 6.27 | 4.83 |
Motor - Miscellaneous accident | 3.43 | 4.30 | 6.98 | 4.89 | 3.90 |
Aviation | 0.15 | 0.25 | 0.27 | 0.36 | 0.23 |
Total non life | 13.83 | 18.98 | 29.59 | 32.54 | 23.57 |
| Life | |||||
Total life | 0.42 | 1.1 | 1.7 | 2.1 | 2.2 |
Grand total | 14.25 | 20.08 | 31.29 | 34.64 | 25.77 |
Turnover split by form of acceptance in 2005
Turnover split by zone: 2001-2005
in millions USD| Zone | 2001 | % | 2002 | % | 2003 | % | 2004 | % | 2005 | % |
|---|---|---|---|---|---|---|---|---|---|---|
CIMA | 9.65 | 67.72 | 13.95 | 69.47 | 23.36 | 74.66 | 24.60 | 71.02 | 21.81 | 84.63 |
Africa excluding CIMA | 3.15 | 22.11 | 3.33 | 16.58 | 5.10 | 16.30 | 6.38 | 18.42 | 2.93 | 11.37 |
Non-African business | 1.45 | 10.18 | 2.80 | 13.94 | 2.83 | 9.04 | 3.66 | 10.57 | 1.03 | 4 |
Total | 14.25 | 100 | 20.08 | 100 | 31.29 | 100 | 34.64 | 100 | 25.77 | 100 |
Loss ratio by class of business: 2001-2005
| 2001 | 2002 | 2003 | 2004 | 2005 | |
|---|---|---|---|---|---|
| Non life | |||||
Property | 57.92% | 45.01% | 60.56% | 51.82% | 53.84% |
Marine | 55.30% | 53.65% | 35.64% | 41.20% | 31.14% |
Motor & miscellaneous accident | 56.31% | 28.09% | 75.56% | 11.33% | 29.71% |
Aviation | 48.24% | 154.05% | 28.71% | 107.24% | 95.88% |
Total non life | 56.97% | 44.20% | 59.44% | 59.44% | 45.63% |
| Life | |||||
Total life | 3.25% | 72.48% | 62.67% | 42.20% | 29.65% |
Grand total | 55.16% | 45.70% | 59.61% | 44.17% | 44.39% |
Exchange rate XAF/USD as at 31/12 | 2001 | 2002 | 2003 | 2004 | 2005 |
0.00129 | 0.00153 | 0.00183 | 0.00199 | 0.00180 |
Contact
Head office | BP 12410 - Lome - Togo |
|---|---|
Phone | (+228) 221 62 69 / 222 28 69 / 22 163 88 |
Fax | (+228) 221 49 64 / 221 28 46 |
Email | cica-re [at] cica-re [dot] com |
Regional office | BP 1176 - Douala - Bonanjo - Cameroon |
Phone | (+237) 342 34 37 |
Fax | (+237) 342 34 23 |
Email | cicaredouala [at] cica-re [dot] com |
Thanks: We thank CICA-RE for their kind assistance in the conception of this survey.
