Cameroon Warns 20 Insurance Brokers Over Regulatory Breaches

Cameroon’s Finance Ministry has formally warned 20 insurance brokerage firms and their executives over regulatory breaches, less than three months after authorities withdrew the licenses of 31 other brokers as part of tighter oversight of the industry.

Finance Minister Louis Paul Motazé imposed the sanctions in a decision signed on August 19, 2026.

The companies concerned are Asscourt SA, Benew Insurance, Cauris Assurances, Elit Assurance, ET Assurances, Fusion Assurances, Horizon Assurance, Insuremed, La Courtière, Libertis Assurances, Matrix BL Assurances, Plateforme Assurances, Protecteur Fidèle Assurance, Socam Assurances, Renaissance SARL, Synopsis, Treasury Assur, Vitalis Assurances, Vitassur Assurances and Vitrine AAC.

The decision also applies to the executives of the companies. Among the violations cited by the ministry is failure to comply with a May 29 notice that required certain executives of insurance intermediary firms to report to the Insurance Directorate. The August 19 decision, however, does not specify the violations attributed to each company. It refers generally to breaches of insurance regulations and failure to comply with the May 29 notice.

Warnings Stop Short of License Withdrawals

The warnings do not revoke the companies’ authorization to operate. Under the insurance code of the Inter-African Conference on Insurance Markets (CIMA), brokers that violate regulations or fail to comply with orders from supervisory authorities can face a range of disciplinary measures.

These include warnings, reprimands, suspension or compulsory removal of responsible executives, and withdrawal of licenses. Fines can also be imposed in certain cases.

In its decision, the Finance Ministry warned the companies and their executives that further violations could result in more severe sanctions. The action follows another regulatory measure taken less than three months earlier. On May 29, 2026, Cameroon withdrew the licenses of 31 other insurance brokerage firms.

In that case, 26 licenses were declared invalid, while the ministry said five other cases involved both invalid licenses and misappropriation of insurance premiums.

Amina Malloum