The Experience of a Multinational Regulator: CIMA

This article presents a progress report on the integration of the insurance market in the states member of CIMA, its achievements and the new challenges ahead. With the setting of a clear legal framework and the introduction of professional management and organization principles CIMA has imposed sound practices in the insurance market of its members. Nevertheless, these insurance markets are still facing weaknesses that deter a large part of the population from using insurance. New reforms should be implemented as regards governance, enforcement of international standards and the achievement of a real single insurance market.