CICA-Re targets a turnover of 90 billion FCFA by 31 December 2020

CICA REAt the end of the 137th session of its Board of Directors meeting held on 8 December 2020 in Cotonou, Benin, the Compagnie de Réassurance des Etats membres de la Conférence Interafricaine des Marchés d'Assurances (CICA-RE) published the current year's achievements as well as its development strategy.

On 31 October 2020, the company reported a turnover of 75 billion FCFA (133.4 million USD) against 61 billion FCFA (103.41 million USD) a year earlier, an increase of 22.9%. It should be recalled that when Jean-Baptiste Kouamé joined CICA Re in 2008 and left his position as General Manager at the end of 2020, CICA Re's turnover was 14 billion FCFA (29.61 million USD).

CICA-Re's objective is to reach 90 billion FCFA (166.16 million USD) by 31 December 2020. The reinsurer also plans to increase its share capital by the end of 2020.

CICA-Re is expected to benefit from a reorganization of the legal cession starting 1 January 2020. The projected 2021 turnover is set at 107 billion FCFA (198.1 million USD).

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