Insurance: Feicom Awards AXA a 1.46 Billion FCFA Contract for 263 Heavy Vehicles
The Public Procurement Regulation Agency (ARMP) has officially awarded an insurance contract to AXA's local subsidiary. Following a formalized procedure initiated by a tender dossier launched in June last year and authorized as a sole-source contract by the supervising ministry, the Special Fund for Equipment and Intercommunal Intervention (Feicom) selected the insurer to guarantee coverage for its fleet of heavy equipment.
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With a total amount set at 1.466 billion FCFA TTC, the policy covers a fleet of 263 pieces of equipment over a three-year period, reflecting the significance of the logistical investments deployed by the institution to support local territorial authorities.
The financial architecture of this contract is divided into three distinct compartments with unequal weights. The first lot absorbs 408.03 million FCFA, while the second lot weighs heavily on the overall envelope with 687.99 million FCFA, concentrating nearly 47% of the funds alone, the balance of 370.02 million FCFA being allocated to the third lot. Although the published elements do not reveal the exact typology of the equipment distributed across each segment nor the risk evaluation parameters, the average charge theoretically stands at approximately 488.68 million FCFA per fiscal year. When related to the entire fleet of equipment, this envelope yields an average theoretical premium of approximately 5.57 million FCFA per unit over the three years of coverage, although the actual pricing remains subject to seniority criteria, deductibles, and subscribed guarantees.
This award strengthens the position of institutional insurance operators in the market for major risks related to public infrastructure.
The selected contractor is now invited to finalize administrative formalities with the competent department of Feicom to effectuate the take-effect of this multi-year policy, thereby ensuring the operational continuity of the rolling and technical fleet of the intercommunal financing body.
Asaba
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