Composition of the insurance broker approval file
Leader profile (Articles 329, 506, 514 of the CIMA Code)
To apply for the job of Insurance Broker, the candidate must:
- either have a Master’s degree in Technical Insurance Sciences (MSTA) from the International Insurance Institute (IIA) or any other diploma deemed equivalent by the IIA and have completed a six (06) month professional internship in an insurance organization (Article 514 of the CIMA Code) ;
- either have an IIA Insurance Technician Diploma (DTA) or any other diploma deemed equivalent by the IIA and have at least two (02) years’ professional experience in the insurance sector (Article 514 of the CIMA Code), in particular in the production or application of insurance contracts ;
- either have worked full-time for at least two (02) years as an executive or company manager, in a position of responsibility in an industrial or commercial company, as well as having completed a professional internship of at least six (06) months (Article 514 of the CIMA Code) ;
- either have held a position of responsibility for two (02) years as an executive in an insurance supervisory authority (Article 514 of the CIMA Code) ;
- either meet the conditions of professional competence provided for in Article 329 of the CIMA Code ;
- fulfil the conditions of good repute (Article 506 of the CIMA Code).
Composition of the file (Articles 524, 525, 533 of the CIMA Code)
a) For natural persons
To obtain the approval of Insurance Broker, the applicant addresses:
- one (01) stamped request to the Minister in charge of Insurance accompanied by the following documents:
- a certified true copy of the birth certificate less than six (06) months old ;
- a certified true copy of the diploma appearing in the above-mentioned list ;
- a certificate of presentation of the original of the diploma ;
- a booklet or certificate of professional internship if applicable ;
- a certificate of function if applicable ;
- a certificate of nationality ;
- two (02) photos 4 X 4 ;
- a criminal record extract from bulletin N°3 less than three (03) months old ;
- a curriculum vitae dated and signed ;
- a certificate of non-bankruptcy ;
- a declaration form (CIMA model), signed by the Public Prosecutor at the Court of First Instance, of the persons who will be authorised to present insurance transactions to the public ;
- a receipt of entry in the commercial register ;
- the original of the financial guarantee in an amount at least equal to the sum of CFAF 10,000,000,000 and issued either by a commercial bank, a first-class credit institution or an insurance undertaking ;
- detailed provisional accounts for the first three (03) financial years ;
- professional liability insurance
- a lease contract legalized by the Tax Authorities ;
- a localization plan legalized by the Tax Authorities ;
- for foreigners, a residence card in addition to the above documents ;
- any other document deemed necessary.
b) For legal persons
The Promoter of the Brokerage Company sends one (01) stamped request to the Minister in charge of the insurance sector with the following documents:
- one (01) stamped request to the Minister in charge of Insurance accompanied by the following documents:
- a certified true copy of the birth certificate less than six (06) months old ;
- a certified true copy of the diploma appearing in the above-mentioned list ;
- a certificate of presentation of the original of the diploma ;
- a booklet or certificate of professional internship if applicable ;
- a certificate of function if applicable ;
- a certificate of nationality ;
- two (02) photos 4 X 4 ;
- a criminal record extract from bulletin N°3 less than three (03) months old ;
- a curriculum vitae dated and signed ;
- a certificate of non-bankruptcy ;
- a declaration form (CIMA model), signed by the Public Prosecutor at the Court of First Instance, of the persons who will be authorised to present insurance transactions to the public ;
- a receipt of entry in the commercial register ;
- the original of the financial guarantee in an amount at least equal to the sum of CFAF 10,000,000,000 and issued either by a commercial bank, a first-class credit institution or an insurance undertaking ;
- detailed provisional accounts for the first three (03) financial years ;
- professional liability insurance
- a lease contract legalized by the Tax Authorities ;
- a localization plan legalized by the Tax Authorities ;
- for foreigners, a residence card in addition to the above documents ;
- any other document deemed necessary.
