Togo to Host FANAF Forum on Insurance Premium Regulations

Lomé will host the 12th Markets Forum of the Federation of African National Insurance Companies (FANAF) on November 2 and 3, 2026. Organized in collaboration with Togo’s insurance industry association, Association Professionnelle des Sociétés d’Assurances du Togo (APSAT), the event will bring together insurance industry stakeholders to discuss unpaid premiums in markets governed by the Inter-African Insurance Markets Conference (CIMA). Discussions will focus on Article 13 of the CIMA Code, which states that an insurance contract takes effect only after the policyholder has paid the premium. The provision was amended in April 2011 and also allows payment periods of up to 60 days for certain large risks, subject to specific conditions and exclusions. Toward Stronger Market Discipline The forum is expected to assess the level of unpaid premiums across individual markets and examine the factors behind their buildup, including competitive pressure, the pursuit of premium volume and the treatment of public-sector risks. Participants will also consider a proposed binding charter governing how insurers and intermediaries collect and transfer premiums, as well as a cooperation framework between FANAF and CIMA aimed at strengthening supervision and introducing graduated sanctions. The meeting comes 15 years after the 2011 reform tightened premium-payment requirements. Under Article 13, insurers are prohibited from issuing or renewing certain policies when the premium has not been paid.