The Colina Group

The group's African experience began in 1980 with the establishment in Côte d'Ivoire of the company Libano-Suisse, the insurance pole of the Pharaon Group, and with the buyout of the Groupement Français d'Assurances (GFA), pioneer of insurance in Africa.

Following the take over of G.F.A., the group acquired the company Colina S.A., whose merger with Libano-Suisse has marked the start of a strategic conquest of the African markets.

A quarter of a century later, the Colina group firmly stands as one of the most important French-speaking insurance groups in Africa. Its expansion speeded up as of 1996 with the take over of AGF's life subsidiaries in Togo and Mali.

 

Michel Pharaon	Raymond Farhat
Chairman	General Manager

Key dates

• 2006:
  Creation of Colina Gabon
• 2006:
  Creation of Colina Re (Mauritius)
• 2005:
  Creation of Colina Madagascar
• 2005:
  Major shareholder in La Citoyenne Cameroon
• 2004:
  Creation of Colina Europe SAS (France)
• 2001:
  The development of life insurance with the acquisition of Côte d'Ivoire's and Benin's Groupama's subsidiaries, renamed Colina Vie
• 1999:
  The establishment of Colina in Burkina Faso
• 1996:
  Expansion of Colina in the CIMA countries following the takeover of Mali's and Togo's AGF portfolios
• 1989:
  Acquisition of Colina S.A., subsidiary of Cigna insurance company in Côte d'Ivoire
• 1980:
  Libano-Suisse extends its operations in Côte d'Ivoire and acquires G.F.A

Colina Group: life and non-life insurance companies' statistics 2003-2004

in thousands USD

Country	Company	Premiums net of cancellations		Incurred losses*		Loss ratio		Operating results
		2003	2004	2003	2004	2003	2004	2003	2004
Life
Benin	Colina Africa Vie	1 630	2 600	878.5	1 100	54%	42%	28	73
Côte d'Ivoire	Colina Africa Vie	18 000	24 000	11 100	13 400	62%	56%	1 300	2 200
Total life		19 630	26 600	11 978.5	14 500	61%	55%	1 328	2 273
Non life
Burkina Faso	Colina SA	2 300	3 200	900	1 700	39%	53%	-5.5	11
Côte d'Ivoire	Colina SA	23 000	30 400	1 400	11 900	6%	39%	3 000	2 600
Mali	Colina SA	4 000	7 300	1 550	4 750	39%	65%	500	630
Togo	Colina SA	2 000	2 500	820	1 620	41%	65%	250	194
Total non life		31 300	43 400	4 670	19 970	15%	46%	3 744.5	3 435
Grand total		50 930	70 000	16 648.5	34 470	33%	49%	5 072.5	5 708

Source: FANAF - Insurance and Reinsurance Companies' Directory - XIII^th edition * Paid + outstanding losses

Turnover's evolution by type of business: 2001-2004

in billions XAF

Non-life turnover evolution by class of business: 2001-2004

in billions XAF

Exchange rate XAF/USD as at 31/12	2001	2002	2003	2004
	0.00129	0.00153	0.00183	0.00199