Cameroon targets CFA 45bn capital outflow with new reinsurance reform bill

• Draft law mandates cession of reinsurance premiums to state body
• Government cites $208 million shortfall over four years due to foreign reinsurance

Yaoundé, Cameroon – The Cameroonian government has submitted a draft bill to parliament aimed at overhauling the country’s reinsurance framework to stem annual capital outflows of 45 billion francs CFA ($78.7 million). The reform would compel insurance companies to allocate a mandatory portion of their reinsurance transactions to a public authority, in a move designed to retain insurance revenue within the national economy.