Revision of CICA-Re's legal cession

The Compagnie Commune de Réassurance des Etats membres de la CIMA (CICA-Re) prepares for the legal cession on each and every policy issued by direct insurance companies. It was in October 2018 that the revision in the legal cession, enjoyed by the reinsurer since its inception in 1984, was decided.

CICA-Re is currently taking advantage of a 15% legal cession on reinsurance treaties. As from 1 January 2020, this cession mode will be revised. The present legal cession rate of 15% on the treaties will be reduced to 10%. In return, the reinsurer will benefit from a cession 5% on all direct business of insurance companies of the CIMA zone. The health and life savings classes are not concerned by this measure.

To prepare for the deadline of 1 January 2020, a delegation of CICA-Re led by its general manager Jean-Baptiste Kouamé travelled to Libreville, where they were received by Andrew Crépin Gwodock, director and general manager of SCG Ré. CICA-Re wishes to share the experience of the Gabonese reinsurer regarding the management of the legal cession on each and every policy issued by direct insurers.