The Gabonese Commercial Reinsurance Company (SCG-Re), a subsidiary of the Gabonese Strategic Investment Fund (FGIS), is expanding into East Africa, and to Tanzania in particular.
The Tanzanian Insurance Regulatory Authority (TIRA) has granted its approval for SCG-Re to carry out business in the country.
In a statement, SCG-Re said, “This approval marks an important milestone in our international expansion, demonstrating our commitment to providing quality reinsurance solutions across Africa.”
The TIRA approval means that SCG-Re will be operating in two East African countries. SCG-Re already operates in Rwanda.
SCG-Re was founded in 2012, offering services first to insurance companies operating in Gabon before venturing abroad. In 2023, SCG-Re was listed on the Central African Securities Exchange (BVMAC), becoming the first reinsurance company approved by the Inter-African Conference on Financial Markets (CIMA) to be listed on the stock exchange.