After 40 years in the southern African insurance market, with a presence in Zimbabwe, Botswana, Malawi, Mozambique and Zambia, the reinsurance company Emeritus Resseguros SA, a subsidiary of ZHL Holding Ltd, has now established itself in the CIMA market with an office in Abidjan, Ivory Coast, since March 2026.
In this interview, the director of the Abidjan representative office, Issufo Victor, discusses the reasons behind the company’s expansion into French-speaking Africa and the added value this reinsurance company aims to bring to the CIMA market.
Since March 2026, Emeritus Resseguros SA has established a presence in the CIMA region, with a representative office in Abidjan. After 40 years in Southern Africa, why did you choose to turn your attention to the CIMA market?
Emeritus Resseguros SA is a reinsurance company with 40 years of experience in Southern Africa. We cover all risks, in both life and non-life insurance, including the most unusual. We benefit from the group’s experience in insurance, reinsurance and brokerage, alongside many other companies in various sectors.
At the group level, our CEO has a vision to establish a presence across all of Africa and to explore other markets. We chose Abidjan as part of our strategic approach to strengthen our ties with our existing partners in West Africa. And Ivory Coast, particularly Abidjan, is today a dynamic regional hub; it is the largest market in the CIMA zone. Our decision to go to Abidjan is purely strategic; we want to be among the best.
What is your view of the insurance and reinsurance market in the CIMA zone?
All markets are different; that is a fact. You have to be open-minded and willing to learn every day. We have entered a new market, so it is up to us to understand how this market works. But at the same time, we also need to take what we have learnt elsewhere to bring something new to this market.
Because we are not just here to do business, we want to contribute our experience. As mentioned earlier, our company has 40 years of experience in reinsurance, which is worth noting. That is why I believe our company has a great deal to offer, and at the same time, a great deal to learn from this new market in French-speaking Africa.
And moving from Portuguese- and English-speaking markets to the French-speaking market, how do you intend to integrate into this new environment?
At Emeritus, we enjoy challenges and new things. That is how we have grown over the last 40 years; and that is how we envisage the future. Language is not a barrier to doing business; the proof is that we started in a Portuguese-speaking country and moved into the English-speaking market.
With 40 years of experience, are there any segments of the insurance market where you have developed proven expertise that you intend to capitalise on to tackle this new market?
Yes, there are several. For example, the surety bond sector has many offerings. The way we handle surety bonds is slightly different from how it is done in the CIMA market. This is one of the segments where we can try to work together. We are also well specialised in areas such as fire, construction, installation and many other fields.
How do you intend to carve out a place for yourselves alongside the major reinsurers in the CIMA zone?
I believe one thing: there is no competition between insurers and reinsurers. We are all partners. If all players adopt this view, there will be room for everyone, because every company has different objectives and dynamics. If my objective and your objective are different, then what I am looking for is not the same as what you are looking for! So there is no competition. There is room for everyone.
In Southern Africa, South Africa is a major market. But there is always room for new reinsurers. In the CIMA region, we can uncover new opportunities because often, when you’re in a particular environment, you don’t always see where they lie. Someone from outside needs to come in to point them out to you. Our company brings added value to the CIMA market, in one way or another, and we’ll try to work with local companies.
What challenges does the insurance sector in the CIMA zone face in the coming years?
Digitalisation and artificial intelligence are major challenges. One of the pillars of the future of insurance lies in artificial intelligence, as it can help process large volumes of data, particularly in the context of climate change. Today, it is possible to know that at a certain time of year, we will experience heavy rainfall or drought. AI can enable reinsurers to prepare their reinsurance contracts and the premium rates they will apply.
In Europe, companies are already far ahead in terms of AI. It is not like here in Africa, where most events come as a surprise. In the West, companies already know what will happen. And they are preparing to deal with it, to meet the challenges. Another important factor is the regulatory framework. In this regard, the whole of Africa needs to evolve, with the obvious exception of South Africa, which is already far ahead.
As for the next challenges, we also need to invest heavily in microinsurance and financial inclusion, not forgetting climate insurance, but particularly in the agricultural sector. I come from Mozambique, a country that suffers greatly from climate change, as we are on the other side of the sea. We suffer greatly from cyclones, storms and rain. This problem has given us a different perspective on insurance. In this regard, we have worked with insurance companies to develop expertise in risks related to climate change, disasters, energy and renewable energy. We already have several solar energy projects in development.
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