AM Best confirms CICA-RE's rating

AM Best has affirmed the "B+" (good) financial strength and "bbb -" long-term credit ratings of the Compagnie Commune de Réassurance des Etats membres de la Conférence Interafricaine des Marchés d'Assurances (CICA-RE). The outlook remains stable.

The rating reflects the company's strong balance sheet, adequate operating performance, neutral business profile and marginal enterprise risk management.

In 2021, CICA-RE recorded a turnover of 97 billion FCFA (147 million USD). The average combined ratio and the average return on equity (ROE) over the 2017-2021 period respectively amounted to 94% and 9%.