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CICA-RE: capital increase

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Magazine Issue: 
The impossible transfer of risks [3]
Magazine date: 
May 2019

CICA REThe Compagnie Commune de Réassurance des Etats membres de la CIMA (CICA-RE) will increase its capital by 20 billion FCFA (34.8 million USD) by 2020, from 30 billion FCFA (52.2 million USD) to 50 billion FCFA (87 million USD). In order to achieve this increase, the reinsurer intends to approach potential investors.

As from January 2020, CICA-RE will benefit from a legal cession of 5% on all the direct business of the insurance companies of the CIMA zone, excluding health and life savings.

CICA-RE will, for its part, cover the claims of these companies up to 5%.

Read also | CICA-RE: 2018 turnover [4]

Thu, 30/05/2019 - 09:00

Source URL: https://www.atlas-mag.net/en/article/cica-re-capital-increase

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[3] https://www.atlas-mag.net/en/issue/the-impossible-transfer-of-risks
[4] https://www.atlas-mag.net/en/article/cica-re-2018-turnover-increasing-by-15