Establishment of a reinsurance company in Burkina Faso

On 25 September 2024, the Burkina Faso Government adopted a decree establishing a national reinsurance company.

Named “FASO-Réassurance”, the new company will begin operations in 2025. The reinsurer's capital will be 51% owned by the State and 49% by all local insurance companies.

The Council of Ministers also adopted a decree introducing the legal cession of premiums or contributions by insurers operating in Burkina Faso.

These initiatives are aimed at reorganizing the local insurance market and limiting the outflow of foreign currency.