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WAICA Reinsurance Corporation Plc said it was achieving regional integration with the setting up of offshore contact office in Abidjan, Cote d’Ivoire.
The Managing Director, WAICA Reinsurance Plc, Mr. Abiola Ekundayo, said this during the opening of the contact office of WAICA Reinsurance Corporation Plc in Abidjan, Ivory Coast recenlty.
“Let me remark here that with the setting up of WAICA Re’s offshore contact office here in Abidjan, Cote d’Ivoire, the regional integration is substantially achieved as CICA Re and WAICA Re would be able to work together reciprocally and exchange ideas that would lead to the growth of the insurance industry in our sub-region,” he said.
He said that history was being made in Abidjan as the twin sister of CICA Re was born.
While CICA Re is owned by the French speaking countries of the West African sub-region, he noted that WAICA Re belongs to the English speaking countries of West Africa, namely Nigeria, Ghana, Sierra Leone, Liberia and The Gambia.
WAICA Re, he said, has its headquarter in Freetown, Sierra Leone with two regional offshore contact offices in Lagos, Nigeria and Accra, Ghana.
He said the third offshore contact office is in Abidjan, Cote d’Ivoire, adding that WAICA Re enjoyed full diplomatic status in Sierra Leone.
The managing director said the authorised share capital of the corporation was $100m with a paid up capital of about $30m, and that its mission was to provide reinsurance capacity through a highly motivated workforce and the use of advanced technologies to deliver unique service to its clients while creating value for its shareholders.
He said its vision was to develop reinsurance capacity with a view to widening economic and financial development of the West African sub-region.
Punch
