Karim Diarassouba Reappointed to Lead CICA-RE into a New Era
Karim Diarassouba, a veteran finance and insurance executive, has been officially reappointed as Director General of CICA-RE (Compagnie Commune de Réassurance des États Membres de la Conférence Interafricaine des Marchés d’Assurances) for a second consecutive five-year term. The reappointment was confirmed during a significant governance event held in Bamako, Mali, on June 19–20, 2025.
This milestone was marked during the 158th session of CICA-RE’s Board of Directors and the 43rd Shareholders’ General Assembly, highlighting the institution’s confidence in Diarassouba’s strategic leadership and continued impact on the region’s reinsurance growth.
Stakeholder Confidence in Karim Diarassouba’s Leadership
The decision to extend Karim Diarassouba’s mandate reflects a resounding vote of confidence from the board and shareholders of CICA-RE. His first term was defined by consistent progress, stronger operational foundations, and an elevated profile for the organization in Africa’s competitive reinsurance environment.
Guided by his leadership, CICA-RE navigated global economic challenges and intra-African market instability with remarkable resilience. Diarassouba’s ability to forge strong relationships across the continent’s insurance markets helped CICA-RE maintain its role as a cornerstone of regional reinsurance capacity.
Karim Diarassouba’s Deep Experience in African Finance and Insurance
With more than 20 years of experience, Karim Diarassouba has held a variety of high-level roles that have shaped his expertise in financial governance, regulatory frameworks, and insurance supervision. His career spans both national and international institutions committed to advancing Africa’s economic infrastructure.
He notably served in the General Directorate of the Treasury and Public Accounting in Côte d’Ivoire, building a strong foundation in public finance and state budgeting. His expertise was further sharpened at the African Risk Capacity (ARC), an agency under the African Union, where he worked on developing financing tools to support countries facing climate and disaster-related risks.
His tenure as a permanent member of the Regional Insurance Supervisory Commission (CRCA), the oversight arm of CIMA, provided him with hands-on experience in regulatory policy, risk governance, and market development—skills he now brings to his leadership at CICA-RE.
Karim Diarassouba as Former Director of Insurance in Côte d’Ivoire
Among his most notable appointments, Karim Diarassouba served as Director of Insurance within Côte d’Ivoire’s Ministry of Economy and Budget from 2013 to 2021. During this tenure, he spearheaded insurance policy reform, improved regulatory structures, and championed initiatives for financial inclusion via insurance access.
His work contributed significantly to strengthening Côte d’Ivoire’s insurance sector, facilitating the growth of new products aimed at underserved populations, and promoting innovation across the value chain. These achievements enhanced his credibility as a policy shaper and market reformer.
How Karim Diarassouba Strengthened CICA-RE’s Regional Mandate
In his first five-year term as Director General, Karim Diarassouba directed a strategic transformation at CICA-RE. His focus on building underwriting capacity, increasing regional market engagement, and strengthening support for local insurers has yielded tangible improvements in the organization’s performance and relevance.
CICA-RE, as the joint reinsurance entity serving CIMA’s 14 West and Central African member states, plays a critical role in supporting insurers with reinsurance solutions, technical assistance, and capital relief. Diarassouba’s leadership has enhanced the company’s operational standards, introduced digital capabilities in underwriting and claims handling, and improved stakeholder collaboration across borders.
Strategic Vision: Karim Diarassouba’s Priorities for the Next Five Years
Looking ahead, Karim Diarassouba’s second term is anchored on a forward-thinking agenda that includes five key strategic priorities:
Market Penetration and Expansion: Strengthen CICA-RE’s visibility and presence in both Francophone and Anglophone African markets.
Digital Innovation: Embrace technology to enhance risk analysis, customer service, and process efficiency.
Capacity Building: Support the training and development of insurers in member states to foster a more resilient regional insurance ecosystem.
Climate Risk Solutions: Expand CICA-RE’s involvement in climate risk finance in partnership with agencies like ARC and other development institutions.
Regulatory Cooperation: Deepen relationships with regional regulators such as CRCA and CIMA to align with evolving standards and shared policy goals.
This roadmap reflects Diarassouba’s commitment to long-term value creation and the strengthening of reinsurance systems across the continent.
Karim Diarassouba: A Regional Leader for a Continental Opportunity
The reappointment of Karim Diarassouba as Director General is more than a routine leadership extension—it is a signal of continuity, confidence, and strategic alignment. His combination of technical expertise, regulatory insight, and executive leadership uniquely positions him to steer CICA-RE through the opportunities and complexities of Africa’s evolving insurance landscape.
As African economies continue to integrate and expand, Diarassouba’s leadership is expected to drive CICA-RE’s mission of building local reinsurance capacity, supporting insurers, and contributing to economic development and financial stability across the region.
