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SCG Re: results 2019

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Magazine Issue: 
The pandemic risk, insurers’ future Eldorado [3]
Magazine date: 
Jul 2020

SCG RéAs at 31 December 2019, SCG Re (Société Commerciale Gabonaise de Réassurance) posted an 8.6% increase in turnover which went from 12.88 billion FCFA (22.46 million USD) in 2018 to 14 billion FCFA (23.9 million USD) in 2019.

The net income amounted to 411 million FCFA (701.670 USD) at the end of 2019. The incurred losses decreased by 20% to 3.4 billion FCFA (5.8 million USD). The combined ratio was set at 78%.

The Extraordinary General Meeting decided to increase the company's share capital to 10 billion FCFA (17.07 million USD) by incorporating reserves worth 4.4 billion FCFA (7.51 million USD).

The difference of 623 million FCFA (1.063 million USD), shall be paid up in common shares issued for cash.

Read also | Top 50 global reinsurers [4]

Fri, 11/09/2020 - 13:03

Source URL: https://www.atlas-mag.net/en/article/scg-re-results-2019

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[4] https://www.atlas-mag.net/en/article/top-50-global-reinsurers-ranking-of-2019