Establishment of a new life insurance company

A new life insurance company has just been established in Senegal after obtaining license on June 2, 2012. Named Sen Assurance Vie, the new entity is the outcome of a partnership between three Senegalese non-life insurers (Assurances Sécurité Sénégalaise, ASKIA Assurances and CNART) and two institutional public investors (the Caisse des dépôts et Consignations and the Caisse de Sécurité Sociale). The reinsurer Aveni Re, based in Abidjan, and the Cameroonian life insurer Activa Vie also joined the company’s capital. Sen Assurance Vie’s board of directors is chaired by Mor ADJ, while management has been entrusted to Mamadou Faye, former general manager of Salama Assurances Senegal. M. Faye, statistics engineer, pursued insurance studies at the international insurance institute in Yaoundé. He is also holder of an actuary diploma obtained from ENSAE in Paris.