Consolidation of the Congolese insurance intermediary market

Congo BrazavilleThe ministry of finance, the regulatory authority of the Congolese market, has established a new list of intermediaries authorized to practise insurance activities. The updated list of about 30 brokers was sent to the control commission and insurance companies operating in the Congo.

According to a circular note published on May 8, 2019, "no insurance company is authorized to underwrite insurance contracts via brokers other than those mentioned on the new list, otherwise, it will be subject to penalties according to article 312 of the insurance code ".

A stricter control and a better enforcement of laws and regulations on the underwriting of insurance policies are also considered. The supervisory authority intends thus to clean up the insurance market and reduce fraud.

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