Wafa Assurance units up in Gabon

On April 16, 2024, the Regional Insurance coverage Management Fee, which regulates the insurance coverage sector inside the Inter-African Convention of Insurance coverage Markets (CIMA), granted Wafa Assurance Vie Gabon, a subsidiary of Wafa Assurance, the authorization to function within the life insurance coverage sector in Gabon, publicizes a press launch from the group.

Wafa Assurance, already current in six African nations (Morocco, Ivory Coast, Senegal, Cameroon, Tunisia and Egypt) and producing a turnover of round 13 billion dirhams, is thus extending its exercise on the continent, particularly within the CIMA area, by penetrating a market with excessive potential.

With a share capital of 5 billion CFA Francs (or roughly 82 million dirhams), Wafa Assurance Vie Gabon goals to play an lively position within the improvement of the life insurance coverage market in Gabon. It presents a various vary of insurance coverage merchandise, resembling financial savings and life insurance coverage, aimed toward assembly the wants of a broad viewers and distributed via acceptable channels.

Wafa Assurance thus confirms its dedication to contributing to the event of the African continent, counting on its place as chief in insurance coverage in Africa (excluding South Africa) and on the synergies developed with the Attijariwafa Financial institution group, concludes the textual content.