By Doh James Sonkey
CICA-RE, the Community Reinsurer of CIMA (Inter-African Conference of Insurance Markets) has built the capacity of its members in order to boost their service delivery performance and salvage the bad image which many insured persons and companies nurse of insurance companies in Africa.
The two seminars on CIMA life and CIMA after life organized last June 25 and 26, 2018 at the Yaounde Hilton Hotel in prelude to the 36th Ordinary General Assembly of CIMA of June 28 and 29, 2018 helped in building the capacity of officials of the insurance industry on life insurance and unit account and the reinsurance practice of non life insurance and accounting aspects.
Organizers explained that the two seminars updated over 100 participants’ knowledge from 15 African countries on specific exigencies selected to broaden the possibility of commercializing contracts of life insurance and assimilate proportional, non proportional and facultative reinsurance fundamental techniques.
Talking to reporters, the Director General of CICA-RE, Jean Baptiste Kouame said the seminars fall in line with their proximity policy of assistance to insurance companies in permanent quest to ameliorate the capacity of its human resources for excellent results.
“We are training these officials in order to diversify insurance offers as the seminar enabled them to understand mechanisms such as conception, tariff plans, functioning and management.” The DG explained.
At the 36th Ordinary General Assembly, the Board Chair of CICA-RE, Madam Prisca Koho-Nlend said her institution is presenting its 2017 financial account to its’ shareholders which stands at FCFA 46,337 billion against FCFA 38,228 billion recorded in 2016, thereby representing an increase of 8,109 billion in absolute terms and 21, 21% in relative terms.
She said the profit in 2017 stands at FCFA 4, 114 billion against 3, 781 billion in 2016 while the net result for 2017 represents 8, 88% of the total amount.
Prisca Koho-Nlend explained that the profit for 2017 is the fruit of rigorous subscription policy and the cleansing effects of the CIMA zone market.
Chairing the opening ceremony of the 36th session, Finance Minister, Louis Paul Motaze said Cameroon as a founder member 37 years ago alongside 11 other countries is honoured to play host to the triple events including the holding of the 128th Board Session of CICA-RE.
While congratulating the Board Chair and the entire management team of CICA-RE for recording constant positive results year in year out, Minister Louis Paul Motaze promised that Cameroon as first shareholder of CICA-RE will continue to give its support. He encouraged the current trend noticed in the digital transformation of insurance in Africa.vv