(Business in Cameroon) – SUNU Assurances IARD Cameroun has been awarded a major contract to provide a comprehensive property and multi-risk home insurance policy for Cameroon Telecommunications (Camtel). The contract was secured following a national open tender launched on February 1, 2024.
The deal, valued at 945 million CFA francs, covers a two-year period and will be executed in two phases. The first phase, or firm tranche, worth 472.5 million CFA francs, has already been completed. The second phase, for the same amount, is scheduled for 2025. With this contract, Camtel is securing its extensive assets against various risks related to its facilities and infrastructure.
Cameroon’s non-life insurance market saw a modest 1.15% increase in revenue in 2024, reaching 187.9 billion CFA francs, according to official data from the Association of Insurance Companies of Cameroon (Asac).
Against this backdrop of slow growth, SUNU Assurances IARD Cameroun has increased its revenue from 5.1 billion CFA francs in 2023 to 5.8 billion CFA francs in 2024. This performance allowed the company to move up one spot in the national rankings, from 14th to 13th place during the period.
Amina Malloum
