Congo - Member of the CIMA

The Inter-African Conference on Insurance Markets (CIMA) treaty creates a single regulation of insurance operations and establishes a single regional commission to control these activities.

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CIMA is a unique example of the integration of regulation and supervision of the insurance industry, bringing together 14 countries in West and Central Africa.

CIMA's mission is to work for the healthy and harmonious development of the insurance industry by ensuring the protection of policyholders and beneficiaries of contracts and the financial stability of economies. This treaty adopted a single insurance code, encompassing the rules of insurance contracts and the rules applicable to stakeholders: insurers, reinsurers, and insurance intermediaries.

CIMA-supervised institutions include 185 licensed insurance companies and 19 licensed reinsurance companies. CIMA's fourteen member states collectively raised more than 1,500 billion CFA francs (USD 2,443,116,567.31) in insurance premiums in 2021, an increase of 10% compared to 2020.

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The dematerialization of insurance services is inevitable, as the penetration rate of insurance services is less than 2% among the populations of the CEMAC sub-region. Digitalization will make it possible to reach a greater number of people, particularly disadvantaged groups who, until now, did not benefit from traditional insurance services. Digitalization is a project included in the framework of updating insurance regulations in Africa. The insurance industry in the region is resolutely committed to giving new impetus to its development in 2023 and to transforming the perception of insurance in the eyes of the various stakeholders.