Chanas Insurance CEO resigns

The all powerful CEO of Chanas insurance, the juggernaut of insurance in Cameroon, Jacqueline Cassalegno, who had been forced to accept the appointment of a DG after a tussle with some shareholders of the company (including the national hydrocarbons Corporation) in September 2013, finally resigned from her position of PCA.

Ms. Casalegno, approaching 90 years, now has a State of health concern, which could explain her resignation from the company she founded, and for which she had, since 2001, a court battle with her associates. For some, the resignation of Ms. Cassalegno appears as a good opportunity for the company to recover.

Indeed, contend some sources in the middle of the insurance in Cameroon, Jacqueline Cassalegno had become a real obstacle to the development of Chanas, due to her "omnipresence" and her decisions more guided by her "moods" as a purpose of profitability, like the refusal of certain contracts.

The pitched battle in Chanas management, company that has experienced two DGs within six months and is forced by the regulator (CIMA), has considerably rubbed off on the company's results. In 2013, the company lost 2 billion Cfa francs.