AWARE of the importance of the role which plays the Insurance and Reinsurance area in the mobilization of national savings.

ACKNOWLEDGING the necessity that these savings are invested in their countries and foster the speeding-up of their economic development.

CARING ABOUT the promotion of growth in the Insurance and Reinsurance industry, both in the national and regional level, in order to assure a better spread of risks as well as an increase in the retention capacity of Insurance and Reinsurance premiums in the continent.

REALIZING that the cooperation instituted among them within CICA is the guarantee of a healthy development for their Insurance and Reinsurance markets.

AGREED TO ESTABLISH the Common Reinsurance Company of Member States of CICA (CICA-RE)