Wafa Assurance acquires a life and a non-life insurer in Cameroon

Wafa Assurance has become a majority shareholder in Pro Assur SA and Pro Assur Vie.

Pursuant to the terms of the rapprochement agreement contracted by both parties, Wafa proceeds with a capital increase of a Pro Assur followed by the acquisition of 65% of shares and voting rights in the non-life Cameroonian insurer.

The Moroccan insurer acquires a controlling interest of 89.4% of shares and voting rights in Pro Assur Vie.

These operations are yet to be approved by the Moroccan and Cameroonian authorities.

Lire aussi | Wafa Assurance: result 2018