ABSTRACT
AREA S.A is a company authorized to present insurance Fire, Accident, Various Risks and Transport (IARDT) insurance operations. The Headquarters and General Management are located in Douala-BONANJO, at 264 Rue de la Monte Piquet, in front of the CCA Bank building.
AREA Assurances is a concentrate of economic operators handpicked in all sectors of the national and international economy, supported by insurance executives experienced in the task and proven expertise, ready to meet all the expectations of their customers.
AREA CAMEROON PRODUCTS
The company has classified its products in 02, including conventional products and specific products.
Classic products:
Health Insurance
Car insurance
Fire and explosion insurance
Personal and accident insurance
Liability insurance
Theft insurance
All site risk insurance
Multi-risk home insurance
Transport insurance
All risk machine bri insurance.
Specific products:
AREA Smartphone Secure
AREA Driver Insurance
AREA Express Auto
Travel insurance.
AREA AGENCIES IN CAMEROON
AREA S.A has a total of 20 agencies on the national territory.
AREA'S FINANCE
The Combined General Meeting of Shareholders of Assurances et Réassurances Africaines (AREA. SA) on the one hand on the co-option of directors and on the approval of the bylaws on the other hand, decided to proceed with the increase of capital of that insurance company.
In a press release published by this insurance company, it is clearly stated that since August 19, 2019, AREA S.A's share capital has increased from CFAF 3.2 billion to CFAF 5 billion. Admittedly, the company has yet to unveil its deployment strategy. However, internal sources specify that the conquest of the regional market is at the center of concerns.
According to its leaders, the capital increase meets at least two requirements. First, to provide more resources to respond favorably to the company's development plan through the extension of the internal network and in the sub-region with the opening of new branches. Next, the company intends to strengthen its operational system in accordance with the provisions of the regulator.
In all likelihood, if it is true that this company already had a minimum threshold of 3 billion FCFA as stipulated in the relevant provisions of the Inter-African Conference on the Insurance Market (CIMA) which brings together 14 countries of the West and Central Africa, the capital increase indicated Martin Ngouchet, Chairman of the Board of Directors of AREA, also demonstrates the company's ambitions for conquering the insurance and reinsurance market in the region. Created twelve years ago, AREA S.A. specializes in insurance operations such as: Fire, Accidents, Miscellaneous Risks and Transport (IARDT) throughout the national territory and in the CIMA area.
