logoBC
Yaoundé - 20 February 2020 -
Economy

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.

Sylvain Andzongo

cameroon-sabc-announces-consolidated-net-profit-of-xaf16-bln-down-34-yoy-in-2019
Société Anonyme des Brasseries du Cameroun (SABC), a subsidiary of the French group Castel, indicates it recorded a consolidated net profit of about XAF16...
international-women-s-day-2020-cicam-announces-possible-shortage-of-commemorative-loincloth
This year, there could be a shortage of the loincloth produced for the International Women's Day of March 8. Indeed, in an interview published on February...
cameroon-bacm-announces-xaf7-1-bln-of-provisional-net-result-17-up-yoy-in-2019
Banque Atlantique Cameroun (BACM) informs that it achieved a provisional net result of XAF7.1 billion during the 2019 financial year, representing a 17%...
viviane-ondoua-biwole-one-of-cameroon-s-gravest-mistakes-is-to-not-give-enough-attention-to-human-resources
The former deputy managing director of the Higher Institute for Public Management (ISMP in French) is recognized in Cameroon as one of the leading experts...

Mags frontpage


Business in Cameroon n84: February 2020

Money transfer business Cameroon is on the front line


Interview: «Shifting from bureaucratic management to efficient public management»


Investir au Cameroun n94: Février 2020

Sociétés de transfert d’argent Le Cameroun au cœur de la bataille


Entretien : « Passer d’une administration bureaucratique à une gestion publique performante »