Corporate governance of insurance companies in Cameroon: What place the law occupy?
Author(s): KATU Musa Hazcel
Abstract: This write-up questioned the significance of corporate governance in guaranteeing proper management of insurance companies for the benefits of the stakeholders including the insurance companies in Cameroon. It is established that, there is a high competitive atmosphere in the insurance sector. This competitiveness call for a high level corporate governance practices. This is because good corporate governance is vital not only for the benefit of the persons who invest money in company, but also for the interest of the concerned insurance company and the insurance system. This paper established, effective corporate governance can increase the faith investors have in the insurance company and therefore the company can have access to capital and other forms of funding. The core of corporate governance in insurance industry is the promotion of good management practices and the protection of the entire insurance system from financial vicissitudes. In order to achieve this, the lawmaker must do everything conceivable to safeguard the solidity of the insurance system in broad-spectrum and insurance companies in particular, because ruins in one will obviously affect the entire insurance system.