Tunisia: CICA-RE officially starts activities in Tunis branch
Source: Middle East Insurance Review | May 2018
Togo-based reinsurer CICA-RE’s branch in Tunis has officially started its activities.
Headquartered in Lome, which is the capital of Togo, CICA-RE also has other offices in Africa. Since 1999, it has operated a regional office in Douala (Cameroon) which mainly covers Central Africa and East Africa. Its regional office of Abidjan (RCI) has been operational since December 2011 and covers West Africa (CIMA Zone), Guinea Conakry and Mauritania.
Created in 1981 by the member states of the International Insurance Control Conference, CICA-RE began its activities on 1 January 1984. Its objective is to be the reinsurance leader in the CIMA zone.
The company’s goals consist mainly of promoting the development of insurance and reinsurance activities in member countries, promoting the growth of national, regional and sub-regional underwriting and retention capacities, and contributing to Africa’s economic development.
Its initial capital of FCFA600m ($1.1m) has progressively evolved to reach FCFA10bn in April 2009, with cash contributions of FCFA2,703m and by accumulating profits made from year to year amounting to FCFA6,697m. Priority has been given to strengthening the company’s financial position, rather than paying dividends. M