Proposed creation of MAMDA Re

The "Mutuelle Agricole d'Assurances (MAMDA) plans to create MAMDA Re, in partnership with the "Mutuelle Centrale de Réassurance" (France) et Partner Re (Bermuda).

The company, specialized in the coverage of agricultural risks, will be endowed with a capital of 121 million USD, funded at 50% by MAMDA, 30% by Partner Re and 20% by the "Mutuekke Centrale de Réassurance".

MAMDA RE is awaiting approval of the minister of Finance.