Cameroon Re prepares to launch with $27mn capital
Wednesday, 11 18 2020, Category: Insurance and Reinsurance, Country: Africa
Reports from African media suggest that Cameroon Re, a new national reinsurance company, is preparing to launch with FCFA 15 billion (USD 27.1 million) of capital.
Sources at Kapital Afrik informed the publication that the reinsurer is in the final stages of its formation, and is awaiting legal approvals.
The launch of a national reinsurer in Cameroon was under discussion as early as July 2019, after the government appointed consulting firm Finactu to assist in the creation.
Now, Kapital Afrik says that local re/insurers, government authorities and partners have reached an agreement on the make-up of the company.