Magazine date:
Jan 2016 A. M. Best has attributed CICA Re the rating "B" for financial strength and "bb +" for credit, both with a stable outlook.
The rating agency has justified this rating by the good operating performance and the adequate capitalization of the Togolese reinsurer.
In 2014, CICA Re achieved a turnover of 56 million USD, up by 21% compared to 2013. For the same period, the company's net profit amounted to 4.9 million USD, that is a 25.6% increase in comparison with the previous year.
Endowed with a capital of 37 million USD , the African reinsurance company is present in 12 African markets. It plans to expand its presence in other countries of the continent.