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“Insurance companies have to pay claims, they have to mobilize money, they have to finance before they pay claims” (Beacon Abel Ezo’o Engolo, SG of CIMA)

The Secretary General of CIMA, Balise Abel Ezo’o Engolo, at the end of his press conference on October 27 in Libreville ©

The Secretary General of the Inter-African Conference on Insurance Markets (CIMA), Balise Abel Ezo’o Engolo, in his speech took stock of the 30 years that this regulatory institution of the insurance industry has had in the 14 member countries spread in the CEMAC and UMOA areas, called on the insurance companies to to show imagination in future to quickly settle claims which still constitute a real inadequacy which has been rejected by the beneficiaries.

“Insurance companies have to pay claims, they have to mobilize money, they have to finance before they pay out claims,” launched Mr. Abel Ezo’o Engolo and subsequently lamented this situation which he wants to gradually rectify.

In his report, press conference held on October 27, 2022 in Libreville, the head of CIMA aims to “do better and we will do better” because he stressed “the expectations are numerous, especially towards policyholders”.

“The brand image of the insurance industry remains very perfect, we believe that the direction in which it is necessary to act affects especially and essentially the policyholders in favor of what is due to them”, he insisted.

With a turnover of 1.489 billion FCFA, which ended in December 2021, CIMA, through its 172 affiliated insurance companies, liquidated 800 billion. FCFA in claims, “paid each year to policyholders and beneficiaries of contracts”. For Mr. Ezo’o Engolo, these figures are insufficient. They must be improved in the new repositioning of the institution.

He also considered the possibility of better promoting the importance of insurance, an area that brings security and “the means to build well, invest, build and develop better”.

For readingi, “these difficulties are sometimes linked to history, sociology, market supervision and governance mechanisms, and perhaps also to regulatory orientations that may not have been strong enough to change the course of the market. ‘insurance history of its perception’.

CIMA celebrates its 30th anniversaryth anniversary on December 20, 2022 in Libreville under the high patronage of the President of Gabon, Ali Bongo Ondimba.




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