If 8 companies have applied for membership of the Federation of African National Insurance Companies -FANAF (including East Africa Global Non-Life Insurance Company of Burundi, Atlantic Insurance IARD Cameroon, the African Insurance of Congo- Brazzaville, Hannover Ré Côte d’Ivoire, Helvetia Assurance Dakar), it should be noted that Damane Assurance of Mauritania and Axa Assurance Morocco and Wafa Imma Assistance of Morocco withdrew, was it learned at the end of the general meetings of the Federation which took place in Tunis from 17 to 21 February 2019 ..
No explanation has been given in what seems to be an unprecedented event in the annals of the African Federation. Until then, Axa Maroc was head of the sub-Saharan subsidiaries of the group. According to our information, these subsidiaries will now be run from Cameroon.
Apart from these voluntary withdrawals, FANAF has automatically canceled Samaritaine Insurance of Cameroon, PSA Assurance of Côte d’Ivoire, CEA of Côte d’Ivoire and the Benin Insurance Federation, these companies having been the subject of a withdrawal of approval from the regulatory authority.
Similarly, 6 companies were suspended for late contributions. These are Benin Mutual Agricultural Insurance, Mutragui SA of Guinea Conakry, Prime Insurance of Rwanda, Saham Insurance of Rwanda, Rwanda Automobile Guarantee Fund and Phenix SA of Rwanda.