Cameroon, Samaritan Insurance Cameroon threatened by license withdrawal

The Inter-African Conference on Insurance Markets (CIMA) has placed Samaritan Insurance Cameroon under temporary administration. This is due to the non-payment of claims and massive withdrawals in the company's accounts.

Four other Cameroonian insurers may suffer the same fate. These include Compagnie Professionnelle d’Assurances (CPA), les Assurances Générales du Cameroun (AGC), Beneficial General Insurance Cameroun et la Société Africaine d’Assurance et de Réassurance vie, Cameroon.

Note that Samaritan Insurance was founded in 2005. It employs 96 people and achieved, at the end of 2014, a turnover of 3.6 billion FCFA (6.7 million USD).

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