Samaritan Insurance, barred from business

The regional insurance supervisory commission, (CRCA), of the Inter African Conference on Insurance Markets (CIMA) has suspended the operations of the Cameroonian insurance company Samaritan Insurance.

This sanction is due to non-compliance with regulations and the huge amount of accrued losses sustained by the non life insurance company. Samaritan Insurance debts would amount to nearly 4 billion FCFA (6.4 million USD).

In April 2016, the company had already been placed under interim administration.

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