The African Development Bank (ADB) has just invested 6.56 billion FCFA to invest in the capital of the Joint Reinsurance Company of the States Members of the Conference Inter-African insurance markets (CICA-RE).

BAD and CICA-RE signed an investment agreement on 9 June last year. CICA-RE is the third regional reinsurance company in which the Bank invests, after Africa-RE. The operation has numerous advantages: strengthening CICA-RE's underwriting capacities; contributing to the financing of its development and expansion operations in Africa; increasing its contribution to the development of domestic capital markets through retention of 'a substantial share of locally generated reinsurance premiums; implement its environmental and social policy; consolidate its governance and risk management framework; increase its capacity to provide technical assistance in insurance and insurance matters insurance; and contribute to its efforts to diversify its reinsurance products. Note that CICA-RE has twelve member States: Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d'Ivoire, Gabon, Mali, Niger, Senegal, Senegal and Togo.