In Cameroon, Islamic insurance comes through CHASA Takaful Insurance, launched after a 14 May 2024 agreement between Chanas Assurances and Savana Islamic Finance: a takaful bancassurance offer billed as the first in CEMAC and governed by the 2019 CIMA regulation.
Dual oversight: Yaoundé and the CRCA
Cameroon belongs to the CIMA zone. Supervision there is shared between the Regional Insurance Supervisory Commission, the regional regulator, and the Insurance Directorate of the Ministry of Finance, which some sources call the National Insurance Directorate.
The foundations of Book IX in Cameroon
Regulation No. 003/CIMA/PCMA/PCE/2019 of 10 October 2019 defines takaful, in article 900, as mutual solidarity based on a participants' fund. It was written into the CIMA Code as a Book IX devoted to takaful insurance.
Chanas Assurances, a leading public insurer
A subsidiary of the National Hydrocarbons Corporation, Chanas Assurances was the country's third-largest non-life insurer in 2023, with a 10.9% market share according to ASAC, behind AXA and Saar. Its head office is on rue du Dwarf, Bonanjo, Douala.
Savana Islamic Finance, the distribution partner
Savana Islamic Finance SA is a second-category microfinance institution. Within the CHASA arrangement, it provides its network to sell contracts through bancassurance, bringing takaful closer to customers already financed under Islamic rules.
Cover in the general takaful branch
On the general takaful side, CHASA announces motor insurance, an education guarantee and loan cover. For cars, the pooling logic is explained on our page on Islamic car insurance, useful for comparison with a conventional policy.
Cover in the family takaful branch
CHASA's family takaful branch covers health and personal accidents. These contracts belong to personal risks; they call for a medical questionnaire and a careful reading of exclusions, reimbursement limits and waiting periods.
A licence extension rather than a new company
CHASA rests on a licence extension granted to Chanas Assurances under article 903 of the CIMA regulation. With capital of about 6.05 billion CFA francs in 2022, Chanas exceeds the three-billion threshold announced for a takaful operator.
A market still largely uninsured
Insurance penetration stands at around 1% in Cameroon, according to EcoMatin. In 2022, Chanas Assurances wrote about 18.3 billion CFA francs in gross premiums, which gives an idea of the solidity of the operator behind CHASA.
The 2017 Douala forum
On 3 and 4 May 2017, Douala hosted Cameroon's first forum on Islamic insurance, organised by African Islamic Finance Consulting and the AlHuda Centre, with CIMA and the Insurance Directorate attending. It was already calling for a takaful framework.
Reinsurance and the participants' fund
Under article 921, the Code requires takaful risks to be reinsured with licensed takaful reinsurers, unless a sharia supervisory committee approves an exception. The fund is kept separate, a notion explained on our page about the participants' fund.
Neighbours in CEMAC and CIMA
Gabon and Chad come under the same CIMA Code and the same economic community, where CHASA is presented as the first takaful product. To follow developments in a neighbouring market, see our page on Islamic insurance in Chad.
New leadership at Chanas in 2025
In August 2025, Chanas Assurances appointed a new managing director as part of a strategic reorganisation. CHASA subscribers would do well to check with a Savana branch that the offer and its terms continue before any renewal.
Joining CHASA Takaful Insurance
- Visit a Savana Islamic Finance branch, the announced distribution channel for CHASA contracts.
- Ask for the sharia committee's opinion and the names of the members who approve the window's products.
- Choose the cover: motor, education or loan in general takaful, health or accident in family takaful.
- Compare the contribution, Chanas's remuneration and the surplus-sharing rule written into the contract.
- Check exclusions, deductibles and waiting periods, especially for health cover.
- Report a claim to Chanas Assurances with an accident report, invoices or a medical certificate as appropriate.
Price structure of a CHASA contract
| Component | Use | What adjusts it |
|---|---|---|
| Contribution to the fund | Compensating participants | Type of cover and sum insured |
| Operator's remuneration | Management by Chanas Assurances | Contractual percentage |
| Retakaful | Protection against large claims | Licensed reinsurer or sharia waiver |
| Surplus | Possible return to participants | Result of the fund |
| Deductible | Share not compensated | Level chosen in the contract |
Documents for a CHASA application
- Cameroonian national identity card or passport
- Location map or proof of address
- Vehicle registration and driving licence for motor cover
- Repayment schedule of the Savana financing for loan cover
- School enrolment certificate for the education guarantee
- Medical questionnaire for health or accident cover
Mistakes to avoid in Cameroon
- Believing every Chanas Assurances contract is takaful, when only the CHASA offer belongs to that window.
- Mistaking an advertorial or a sales page for the contractual documents, which alone bind the insurer.
- Letting compulsory motor liability lapse before the CHASA motor contract has actually been taken out.
- Taking loan cover without checking that it matches the amount and term of the financing obtained.
- Assuming the surplus will be paid out without a written clause on how it is calculated and who receives it.
CHASA and takaful in Cameroon: common questions
What is CHASA Takaful Insurance?
It is the takaful offer arising from the agreement signed on 14 May 2024 between Chanas Assurances and Savana Islamic Finance. Billed as the first takaful product in CEMAC, it is sold through bancassurance via the Savana network and relies on a licence extension held by Chanas.
What cover does CHASA offer?
The sources announce two families. In general takaful: motor, education and loan cover. In family takaful: health and accident. Details of limits and exclusions must be requested at a branch, as they do not appear in the sources consulted.
Who regulates Islamic insurance in Cameroon?
The CRCA, CIMA's regional regulator, grants licences and extensions. The Insurance Directorate of the Ministry of Finance handles national oversight. The 2019 takaful regulation sets common rules for all member states, Cameroon included.
Do you need to be a Savana customer to join?
Distribution runs through the Savana Islamic Finance network as bancassurance, but the sources do not say whether opening an account is mandatory. Ask at a branch, particularly if you only want motor insurance without any linked financing.
Takaful operators and organisations
Noor Takaful InsuranceNigerian takaful company offering general and family takaful products to individuals and businesses.Al Rajhi TakafulSaudi takaful operator offering Sharia-compliant motor, health, home and protection cover.Jaiz Takaful InsuranceAbuja-based Nigerian takaful operator offering general and family insurance products in line with Sharia principles.Indicative list: assuranceislamique.com has no commercial link with these organisations. Always check the licence with the local regulator.