In Lomé, African insurers focus on their financial health

The FANAF opened its 12th forum in Lomé on November 2, 2026, in partnership with the APSAT, to examine application of Article 13 of the CIMA Code, which requires premiums to be paid before an insurance contract takes effect or is renewed. Fifteen years after the reform, insurers are assessing the return of unpaid premiums, driven in part by competition and payment concessions to major clients, and considering measures to restore financial discipline. Togo’s insurance minister, Jean-Marie Koffi Tessi, and APSAT president André Apélété Azibli called for strict enforcement to protect insurers’ cash flow and their ability to compensate policyholders. The sector generated 87 billion CFA francs in revenue in Togo in 2022, according to the APSAT.