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The Gabonese government has introduced compulsory legal cessions for microinsurance companies operating in the country under Ministerial Order No. 202/MEFDPLVC.
The compulsory cession rates are set as follows:
- 2% of premiums written by non-life microinsurance companies, excluding health insurance.
- 1% of premiums written by life microinsurance companies, excluding capitalization products.
- 20% of premiums ceded under reinsurance treaties
- 1.5% for facultative reinsurance.
Newly licensed microinsurance companies are exempt from the requirement for their first two full financial years. The compulsory cession obligation takes effect from the third financial year following the granting of their license.
