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The Société Commerciale Gabonaise de Réassurance (SCG-Ré) has proceeded to a 5 billion FCFA (8.65 million USD) increase of its share capital, including 4 219 200 000 FCFA (7.3 million USD) through the incorporation of reserves and 780 800 000 FCFA (1.35 million USD) through cash contribution.
The share capital thus went from 5 billion FCFA (8.65 million USD) to 10 billion FCFA (17.3 million USD).
The operation, which complies with CIMA's requirements, has been examined by the Regional Insurance Control Commission (CRCA), meeting during its 105th ordinary session.
According to Andrew Gwodog, the company's CEO, this increase allows the reinsurer to consolidate its financial position and to launch its IPO project in 2022.
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