The Gabonese Reinsurance Company (SCG-Ré) ended 2017 on a positive note, with a net result of 1.2 billion CFA francs, an increase of 112% compared to 2016.
According to the company’s statements released between May and June at its board of directors and its general meeting, the turnover amounts to 12.265 billion CFA francs at the end of the year, compared with 11.3 billion in 2016. Its technical result, meanwhile, is up 26% over the previous year, to reach 3.6 billion.
In addition, the company headed by Andrew Crepin Gwodog has unlocked $ 4 billion for the settlement of claims, against $ 2.6 billion in 2016, and announced a level of profitability up (24% against 11% in 2016). Its own funds are also rising, from 7.5 billion in 2016 to more than 8 billion in 2017.
It should be noted that the Gabonese reinsurance company announced in early 2018 that it plans to increase its share capital from 5 to 10 billion over a period of 4 years. At the end of 2017, its capital is 61% owned by the Gabonese Strategic Investment Fund (FGIS), 8% by Gabon’s Caisse des Dépôts et Consignations and 31% by private insurance companies.