Next December, the Inter-African Insurance Markets Conference (CIMA) celebrates its 30th anniversary. On the occasion of this ceremony, the mid-term review of this regional institution is scheduled to take place in the context of preserving the rights of insured persons while contributing to the financing of the economies of member countries. This will lead to the strengthening of the technical and operational capacities of the insurance sector regulator.

The insurance sector regulator covers fourteen countries in Central and West Africa. With a focus on economic, technological, scientific or ecological developments, it should be noted, according to the Secretary General of CEMA, Blaise Abel Ezo'o Engolo, that “in 30 years of existence, CIMA has established itself as an example of integration and development rsquo; African Union for Good Regulation and Supervision of the Insurance Industry”.

Thus, CIMA intends to further influence the regional and continental economy through its 112 non-life insurance companies, 21 reinsurance entities and 64 companies life insurance. This, despite a difficult environment reinforced by multifaceted crises, in particular the pandemic linked to Covid-19. In reality, it had a total turnover of 1,489 billion FCFA (2.2 billion dollars) and 2,461 billion FCFA (3.7 billion dollars) in technical provisions as of December 31, 2021.

In addition, the annual growth rate was 8.5% at the end of the past year, while investments made by insurers in the economies of the Member states amount to 2746 billion CFA francs (4.1 billion dollars). The regulator thus sets itself the ambition to improve its figures, since the potential for conquering new markets is real. In this part of the continent, the insurance penetration rate is barely around 2%.