SCG-Ré: Big net profit increase in 2020

SCG RéThe “Société Commerciale Gabonaise de Réassurance” (SCG-Ré) recorded in 2020 a turnover of 13.731 billion FCFA (25.71 million USD), a decrease of 3% compared to 14.098 billion FCFA (24.07 million USD) recorded by late 2019.

As of 31 December 2020, the incurred losses increased by 52% to be set at 5.156 billion FCFA (9.65 million USD) compared to 3.38 billion FCFA (5.77 million USD) in 2019. Such increase is due to the settlement of important claims.

Despite the turnover decline and the increase in loss experience, the operating results of the Gabonese reinsurer rose by 78% and was set at 1.651 billion FCFA (3.09 million USD) at the end of 2020.

The net profit went from 412 million FCFA (703 370 USD) in 2019 to 1.416 billion FCFA (2.65 million USD) in 2020, which represents an increase of 243% over one year.

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