AFRICA Reinsurance Corporation to bolster development of insurance

The Group Managing Director, Africa Reinsurance Corporation, Corneille Karekezi, has said the company will pursue to bolster underwriting companies on the continent to boost the development of insurance.
Karekzi said this amid the award function for African underwriters at the African Insurance Organisation summit, that was conducted in Marrakech, Morocco, recently.
He said that the company?s reason for launching the award for the carriers at the AIO was to reward hard work of people and organisations that were making changes in their nations.
As per him, Africa Re will pursue to bolster moves that will assist develop and drive insurance to every part of the continent.
He likewise said that the provision of insurance might alter the lives of millions of African workers and help them manage the several 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.?
Cornerstone Insurance Plc of Nigeria emerged as the most innovative firm 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 specially the adoption of Airtel insurance to mount the grass roots in Nigeria.
It said, ?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.?