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The Assurances et Réassurances Africaines (AREA) has announced the increase of its share capital by 56.25%, from 3.2 billion to 5 billion FCFA (5,38 à 8,42 million USD). The transaction was carried out on August 19, 2019.
It should be noted that the Cameroonian insurer was already in compliance with the CIMA requirements before the last capital increase. For AREA's top management, this move is part of the company's expansion strategy in West and Central Africa. No further details were provided on this action.
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