Yaoundé - 20 February 2020 -

Sonara and Swiss-RE in working session for compensation of the May 31, 2019 fire outbreak

Sonara and Swiss-RE in working session for compensation of the May 31, 2019 fire outbreak
  • Comments   -   Thursday, 22 August 2019 14:05

(Business in Cameroon) - On July 24, 2019, Sonara’s managing director Jean Paul Njonou and one of his collaborators held a working session with Swiss-RE’s claims department, credible sources reveal.

There is not much information but it is known that Swiss-RE was Sonara’s insurer at the time of the May 31, 2019, fire outbreak at one of the oil refinery’s plants.

For the time being, there is not much certainty as to if Sonara will be insured for the fire outbreak because, according to local media, Sonara had not paid its insurance premium. Some of the media even claim that the premium was paid after the fire during which 10 million litres of crude oil were lost.

Sonara did not agree to comment on the subject. On July 2, 2019, it was discussed by prime minster Joseph Dion Ngute and the association of insurance companies operating in Cameroon.

At the end of the meeting, Théophile Gérard Moulong, president of the said association indicated that the consequences of the Sonara fire would be exacerbated by lack of currency since insures are unable to pay reinsurers. “This means that an accident like this can be difficult to remedy,” he added.

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