The Compagnie Commune de Réassurance des Etats membres de la CIMA (CICA-Re) prepares for the legal cession on each and every policy issued by direct insurance companies. It was in October 2018 that the revision in the legal cession [4], enjoyed by the reinsurer since its inception in 1984, was decided.
CICA-Re is currently taking advantage of a 15% legal cession on reinsurance treaties. As from 1 January 2020, this cession mode will be revised. The present legal cession rate of 15% on the treaties will be reduced to 10%. In return, the reinsurer will benefit from a cession 5% on all direct business of insurance companies of the CIMA zone. The health and life savings classes are not concerned by this measure.
To prepare for the deadline of 1 January 2020, a delegation of CICA-Re led by its general manager Jean-Baptiste Kouamé travelled to Libreville, where they were received by Andrew Crépin Gwodock, director and general manager of SCG Ré. CICA-Re wishes to share the experience of the Gabonese reinsurer regarding the management of the legal cession on each and every policy issued by direct insurers.