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Cnavie to increase its capital

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Magazine Issue: 
FANAF: The delicate use of dialogue [3]
Magazine date: 
Mar 2020

Cnavie-NigerThe Compagnie Nouvelle Assurance Vie du Niger (Cnavie-Niger) has increased its share capital by 1 billion FCFA (1.680 million USD), from 2 billion FCFA (3.36 millions USD) rising to 3 billion FCFA (5.041 million USD).

This decision, which was adopted at the insurer's board of directors meeting, is aimed at complying with the minimum capital requirements imposed by the CIMA [4] (Inter-African Conference of Insurance Markets). Since 2016, date of entry into force of the new regulation, CIMA has been requiring insurance companies to increase their capital to 3 billion FCFA (5.041 million USD) within three years and to 5 billion FCFA (8.402 million USD) over a period of five years.

Mon, 09/03/2020 - 11:19

Source URL: https://www.atlas-mag.net/en/article/cnavie-to-increase-its-capital

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[4] https://www.atlas-mag.net/en/article/share-capital-of-insurance-companies-compliance-with-cima-standards