SBEE: 167.9 million FCFA deducted from 2023-2025 premiums, ARMP refers to contract

In a notice dated September 16, 2026, the Public Procurement Regulatory Authority (ARMP) declared itself incompetent to authorize a modification of the contract. It referred SBEE to the stipulations of the contract.

AFG Assurances Benin had initially submitted three adjustment invoices: 224.91 million FCFA for 2023, 225.74 million for 2024, and 325.19 million for 2025. Their total amounted to 775.84 million FCFA excluding taxes. After discussions with SBEE, each year’s amount was reduced to 202.65 million FCFA, totaling 607.95 million FCFA.

The case stems from the contract signed on December 22, 2022, with Atlantique Assurances Benin, now AFG Assurances. It provided for an annual order of 711.49 million FCFA excluding taxes for three years. Its adjustment clause requires SBEE to make an additional payment when the insurer’s income statement is in deficit and, conversely, provides for a reimbursement to the public company when this account is in surplus.

The National Directorate for Public Procurement Control issued two unfavorable opinions regarding an adjustment through an amendment. It ultimately concluded that the adjustment resulted from a contractual clause and could not be treated as a modification of the contract. In response to SBEE’s request, the ARMP determined that it did not need to issue a specific authorization and instructed the person responsible for public procurement to apply the procedure in accordance with the contract and the recommendations of the DNCMP.

The contract covered the years 2023 to 2025. A separate amendment, amounting to 355.74 million FCFA excluding taxes, had extended coverage from January 1 to July 30, 2026.