CHANAS ASSURANCES : Henri Théodore Bayouak dismissed as Chief Executive Officer

(LVDE) – This decision was made on August 20, 2025, following an extraordinary board meeting during which Technical Director Bibiane Mbia was appointed to serve as interim CEO.

A major shake-up occurred at Chanas Assurances on August 20, 2025, when Henri Théodore Bayouak was dismissed from his role as Chief Executive Officer. Having taken the helm of this Cameroonian insurance company just eleven months ago, Bayouak was removed after an extraordinary session of the Board of Directors. An official statement, signed by the Board Chairwoman, Claudine Manga, confirmed the decision but provided no detailed explanation regarding the reasons behind the dismissal.

In the meantime, Bibiane Mbia, who previously served as Technical Director, has been appointed to act as interim CEO until a new chief executive is officially named. This change comes as part of a broader restructuring effort aimed at strengthening the company’s position in the Cameroonian market and ensuring its long-term sustainability.

Chanas Assurances ranks among the leaders in the non-life insurance sector in Cameroon, holding an 11.20% market share. It stands alongside major players such as SanlamAllianz (13.4%), Axa Assurances (12.5%), SAAR (11%), and Zenithe (7.69%). According to the latest figures released by the Association of Insurance Companies of Cameroon (ASCA), the firm recorded a turnover of 21 billion CFA francs in 2024, representing a 3.5% increase compared to the previous year.

Although Bayouak’s leadership performance was not questioned, the statement emphasized the importance of governance within the company. “Chanas Assurances reaffirms its unwavering commitment to carrying out its mission while upholding the highest standards of governance, ethics, and transparency,” the communiqué read. A subsidiary of the SNH Group, the company boasts a share capital of 6.051 billion CFA francs, reflecting its solid financial foundation.

Henri Théodore Bayouak first joined Chanas Assurances as Deputy CEO in June 2019 before being appointed CEO. His appointment had been well-received, given his nearly 30 years of experience in the insurance sector and his expertise in operational management. Holding a Master’s degree in Applied Mathematics for Finance and Insurance from the Polytechnic University of Berlin, he had previously served as Senior Manager at the Activa Group for 15 years.

The decision to remove Bayouak raises questions about governance within Chanas Assurances as well as the company’s long-term strategy. As competition in the Cameroonian market intensifies, the interim leadership’s ability to maintain financial performance and steer through this restructuring phase will be critical.

Esther Grace