Press release of the 95th Session of the Regional Commission for Insurance Control (CRCA).

The Inter-African Conference of Insurance Markets (CIMA), an integrated organization of the insurance industry, brings together the fourteen (14) French-speaking countries of Central and West Africa: Benin, Burkina Faso, Cameroon, Central African Republic, Congo , Côte d’Ivoire, Gabon, Guinea Bissau, Equatorial Guinea, Mali, Niger, Senegal, Chad and Togo.

The Regional Insurance Control Commission (CRCA) is the regulatory and supervisory body of the Inter-African Conference of Insurance Markets (CIMA) responsible for market supervision.

The CRCA met in its 95th regular session from 29 April to 04 May 2019 in Abidjan (Republic of Côte d’Ivoire).

During this session, the Commission reviewed a number of issues, including :

  • Approvals and extensions of insurance companies;
  • Real estate asset revaluations;
  • Insurance company financing or turnaround plans;
  • Follow-up of injunctions from insurance and reinsurance companies;
  • Monitoring of companies under provisional administration;
  • Tracking companies in liquidation;
  • Portfolio transfers;
  • On-site control reports;
  • Approvals of insurance company executives (PCA, DG and DGA);
  • Technical files.

At the end of its work, the Commission approved insurance companies and insurance company executives, evaluated the financing plans presented by the companies and imposed sanctions on certain executives.

The Commission has also approved the Corporate Auditors and certain real estate experts who are called upon to operate on the CIMA markets.

Finally, it reviewed the on-site control reports of insurance companies as well as the companies’ responses to those reports.