The association of insurance companies includes:
1- A general assembly
The general assembly is the supreme organ of the association. All approved insurance companies operating in Cameroon, full members as well as associate members take part.
The general assembly holds four (04) annual sessions, one in April for the examination of the accounts of the previous year and another in September for the adoption of the budget for the coming year of the association and intended for analysis of statistics and market conditions during the previous year.
In addition to ordinary sessions, the General Assembly can meet in extraordinary session as needed, or at the request of at least a quarter (1/4) of the members.
Take part in the sessions of the general assembly :
– Members and associate members or their representatives duly provided with an express and formal mandate of representation at the said general assembly
– The following can be invited as observers: any natural or legal person, supervisory ministry or any other insurance or reinsurance organization not enjoying the status of member.
2- A office
The office is the executive body of the association. It has nine (09) members.
The members of the bureau are elected by first past the post by the general assembly for a period of two (2) years. It elects from its midst:
– President ;
– The two vice-presidents;
– Treasurer.
The office is competent to appoint the general secretary of the association.
The president and the members of the office are elected for a period of two (2) years. However, the president can be re-elected only once in succession.
The functions of president and member of the board are not remunerated, however, the association supports the costs necessary for the accomplishment of their missions.
The office is endowed with the powers of administration, direction and representation of the association within the framework of the main orientations given by the general assembly.
3- A general secretariat
It is placed under the authority of a secretary general appointed by the board. The secretary general is the remunerated agent. He enjoys the status of employee of the association.
He is in charge of the management of the administrative services of the association, their organization and their functioning, the follow-up and the execution of the decisions and resolutions of the general assembly, the office and the specialized bodies.
He assists the president and the board in the organization of board meetings and general assemblies.
4- Technical commissions
For the accomplishment of its missions, the association has permanent or temporary technical committees responsible for carrying out any necessary study or according to the annual program, and aimed at promoting the insurance industry in the market.
They assist the Secretary General in the accomplishment of his missions.
The terms of appointment of the members of the commissions, of their functioning are fixed by the internal regulations.
5- A national arbitration chamber
The NAC is created within the association of insurance companies of Cameroon, in application of the provisions of article 276 of the CIMA code.
The powers of this chamber extend to other areas defined in this statute in its annex relating to the organization and functioning of the national arbitration chamber.
The legal value of the annex relating to the statute of the national arbitration chamber constitutes the statute of the association.