• Sunday, February 25, 2024
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BusinessDay

CICA Re pushes expansion, open North African regional office soon

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CICA-Re, a joint reinsurance company of Member States of the Inter- African Conference for Insurance Market based in Togo has announced its intention to open operational office in Tunisia before the end of the year. The plan to open the North-African office is in line with its expansion project targeted at deepening its presence and portfolio with the African market.

Hippolyte Oyuba, deputy managing director, CICA Re said during the opening ceremony of a 2-day Seminar on Advanced Reinsurance organised by the Company for insurance companies in Nigeria held in Lagos said CICA Re, operates from four offices, where Lome Togo serves as our head office, Central African Regional Office in Douala, Cameroun and the West African Regional Office (Francophone) in Abidjan, Cote d’ Ivoire.

“This year we opened our Nairobi Contact Office in Kenya as a hub for the East African and Southern African Markets and before the end of this year, we plan to open another office in Tunisia, Tunisia for North Africa, he said.”

Oyuba said CICA Re from inception on January 1984 has continued to organise free training sessions for insurance and reinsurance companies in the Francophone regions of Africa. This is part of our assistance to those markets. Also included in the package are risks quotation and on-the risks assessment/ survey and reinsurance accounting support to mention a few.

The reason for organising similar programme in Nigeria he said “because this market is very important to CICA Re, we went all the way to India to bring you an illustrious professional, a scholar and teacher in the person of K. L Naik, MD Xperitus Insurance Brokers, India as the main resource person for the course.

He noted further that CICA Re is a partner with a number of companies in the Nigerian market and we believe that it is our collective responsibility to develop technical skills and human capital for our industry.

“We marked our 30th year of existence as positive testimony of regional cooperation between African States with our shareholding structure as follows; 65 percent held by 12 member states of Francophone Africa Countries and 35 percent is held by the West Africa Development Bank and 48 insurance Companies in Africa.

The theme of the Seminar which attracted participants from the technical desk of insurance companies in Nigeria is “Advanced Reinsurance Seminar on Technical Accounting; programming and Clauses”.