Corporate Social Responsibility (CSR)

At SENRE, we care about the interest of our stakeholders and society as a whole. The creation of shared value has its place in the vision we have of our profession.

Social investment is one of the ways in which we work to promote the progress and development of others. The educational aspect of the CSR strategy is also justified by the fact that SENRE is an institutional investor with the prerogative of public authorities.

Some of the CSR initiatives:

  • social actions
  • charities
  • internships for students
  • Corporate citizen

Benefiting from the legal cession confers rights. It also imposes obligations including:

  • The limitation of foreign currency outflows and their negative effects on the balance of payments,
  • The constitution of additional savings that could support the country’s investment policy,
  • The promotion of greater market discipline that generates more regular results for the insurance sector.

These purposes are clearly demonstrated by the explanatory statement of Law 89-28 of July 6, 1989, from which we reproduce extracts below:

« … In Senegal, the narrowness of the market, the low equity capital of insurance companies, …, make reinsurance more necessary. However, the price paid in return for the reinsurance guarantee leads to significant foreign currency outflows that have negative effects on the balance of payments….

The creation of a reinsurance company is part of the government’s strategy to redress our balance of payments imbalance and create the conditions for healthy and sustainable growth of our economy. In this respect, it is a question of limiting foreign currency outflows as a result of reinsurance operations and of freeing up additional savings that could support our country’s investment policy…

The establishment of a Senegalese reinsurance institution will fundamentally alter the traditional links between the Senegalese market and foreign reinsurers. For the latter, the operations carried out by this institution have the immediate effect of reducing the volume of their business, which will however be compensated by greater market discipline generating more regular results… ».