Authorization of managers of insurance companies

Profile of the managers (Articles 329 and 506 of the CIMA Code)

• Either, have a university degree in insurance or in actuarial profession and show proof of a minimum professional experience of 5 years at a higher managerial position in an insurance company, an insurance organisation, an insurance brokerage cabinet or in government department in charge of insurance control ;
• or, have a higher education degree oriented towards Economics or Law with a 5 years working experience in the management of an enterprise of a financial nature ;
• or, have a higher education degree with a minimum working experience of 10 years in a top management position in an enterprise or with the administration ;
• Fulfil the conditions of honourableness
• Not having been responsible, not-rehabilitated, in the bankruptcy of an enterprise.

Composition of the file (Article 328-4 and 328-5 of the CIMA Code)

• The Chairperson of the Board of Directors addresses one (01) stamped application to the Minister in charge of Insurance, accompanied by the following documents :
• a certified true copy of the birth certificate dated less than six (06) months ;
• a certified true copy of the certificate featuring in the list published by the CRCA;
• an attestation of presentation of the original of the certificate ;
• a certificate of nationality ;
• two (2) passport sized (4 X 4) photographs ;
• a certificate of non-conviction dated less than three (03) months ;
• a signed and dated curriculum vitae;
• a certificate of non bankruptcy ;
• a declaration form (CIMA model), signed by the Public Prosecutor at the Court of First Instance ;
• an attestation of function and any other justification of professional experience;
• a descriptive statement of the present professional activities and those exercised for the ten previous years preceding the request for authorisation ;
• the instrument bearing designation of the manager ;
• for foreigners, a residence permit card in addition to the above documents ;
• any other document judged necessary.