Closing of the 49th FANAF General Assembly

On 26 February 2025, the Federation of African National Insurance Companies (FANAF) closed the proceedings of its 49^th General Assembly.

The event was held in Marrakech on the theme: “What levers for inclusive and sustainable insurance development in Africa?”.

The closing of the proceedings began with the presentation of the conference conclusions, followed by the approval of the resolutions and the official closing ceremony.

The Assembly approved a total of 16 resolutions:

• adoption of the Executive Board's report on activities in 2024
• approval of the 2024 annual accounts
• decision to allocate the surplus earnings recorded in 2024 in the amount of 172 222 062 FCFA (275 585 USD) to retained earnings
• adoption of the Executive Board's 2025 action plan
• adoption of the 2025 budget, with revenue and expenditure totalling 845 360 000 FCFA (1 352 720 USD)
• payment of a subsidy of 30 million FCFA (48 010 USD) to the International Insurance Institute (IIA) in Yaoundé for the year 2025.
• approval of membership applications from six companies
• acknowledgement of the voluntary withdrawal of Swiss Re Africa (South Africa)
• decision to suspend the membership of SOGAM SA (Guinea)
• recommendation to member companies to strengthen financial education and promote insurance culture
• recommendation to extend the scope of compulsory insurance
• recommendation to set up a regulatory framework to support the development of the African insurance industry
• recommendation to member companies to implement insurance solutions capable of covering emerging risks and natural catastrophes
• recommendation to implement actions aimed at achieving gender equality and developing a business approach focused on the professional female clientele
• recommendation to set up a permanent exchange system between insurance companies and brokers in each market
• decision to hold the 50^th Annual General Assembly in February 2026 in Côte d'Ivoire.