Ogar Assurances exits Togo

Finance
Wednesday, 22 January 2020 16:41
Ogar Assurances exits Togo

(Togo First) - Ogar Assurances exited Togo and thus closed its last operation in West Africa. 

The exit comes after a meeting of the regional regulator of insurance markets (CRA). During the meeting, held in December 2019, the regulator retrieved all of Ogar’s accreditations. 

Prior to the ultimate move, the CRA had prohibited the insurer from registering any subscription or renewing expired insurance policies, unless Ogar produced a solid financing plan. This was at a session in Douala, on July 22-27, last year. 

Unfortunately for the insurer, it couldn’t meet this condition and subsequently had to end its activities in West Africa, a market it intended to conquer.

Séna Akoda

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