Africa Re reiterates support for Insurance Growth

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The Group Managing Director, Africa Reinsurance Corporation, Corneille Karekezi, has said the firm will continue to support underwriting firms on the continent to foster the growth of insurance.

According to a statement obtained on Sunday, Karekzi said this during the award ceremony for African underwriters at the African Insurance Organisation summit, which took place in Marrakech, Morocco, recently.

He said that the firm’s reason for introducing the award for the operators at the AIO was to reward hard work of individuals and organisations that were making impact in their countries.

According to him, Africa Re will continue to support initiatives that will help develop and drive insurance to every part of the continent.

He also said that the provision of insurance would change the lives of millions of African workers and help them manage the various risks they were exposed to.

The reinsurer said, “This opportunity to change lives in Africa should be seized by all of us by providing insurance services that can mitigate the various risks. As you know, the task is huge due to the immense insurance protection gap but it is a noble and profitable cause to pursue.”

According to the statement, Cornerstone Insurance Plc of Nigeria emerged as the most innovative company of the year while two other African companies also clinched awards as insurance company of the Year and Insurance CEO of the Year.

The statement said Cornerstone won because of its use of technology, breakthrough in products and service delivery, innovative distribution channels, methods introduced in the sale of insurance products to reach the grass roots and particularly the adoption of Airtel insurance to reach the grass roots in Nigeria

“Beyond the award winners, we will be celebrating our individual and collective efforts and successes of the year 2015, one of the most difficult of recent years due to the tough macro-economic environment faced by many African countries,” it said.

 

Source: Punch