WAICA Reinsurance wins 2021 NAIPO Excellence Award
WAICA Reinsurance Corporation Plc (WAICA Re) has been honoured by the National Association of Insurance and Pension Correspondents (NAIPCO) with the 2021 NAIPCO Excellence Award.
The colourful event took place during the 6th NAIPCO National Conference held at Oriental Hotel, Lagos and attended by Insurance and Pension Regulators, Chief Executive Officers of Insurance, and Pension Companies Stakeholders, Pensioners, the press and other dignitaries in the country.
NAIPCO announced that WAICA Re was considered worthy for the award because the company lifted the infrastructural status of the CIIN, the training arm of the industry thereby empowering them to render better service delivery to their stakeholders.
“In fact it’s the initiative of the CIIN that prompted NAIPCO to consider the award,” the citation read.
WAICA Reinsurance Corporation Plc (WAICA Re) is a West African sub-regional reinsurance company with its headquarters in Sierra Leone, Regional Offices in Ghana, Nigeria, Ivory Coast and Tunisia and subsidiaries in Kenya and Zimbabwe and the United Kingdom.
From the Physical locations, the company serves clients in more than 50 countries in Africa and Middle East.
The company has posted impressive financial results since its inception in 2011. The Company’s Gross Written Premium was $102.6 million and profit after tax stood at $13.1 million as at December 31, 2020 from $0.37 million in 2012. Total Assets have also grown from $12.6 million in 2012 to $183.90 million as at December 31, 2020.
The company’s business operation is guided by its vision to develop and provide a diversified capacity targeted at enhancing economic and financial development in Africa and beyond hinged on an unparalleled service delivery and technology.
Currently, WAICA Re is sponsoring a competition aimed at improving the environment through its WAICA Re Champion Initiative. At the first edition of the project, the Company is donating a sum of $100,000 to combat environmental problems.
WAICA Re has a financial strength rating by AM Best: B+ (Stable Outlook) and a Global Credit Rating International Rating: B+, National Rating: A.
High point of the event was the presentation of the award by the Conference Chairman and Chairman/CEO, Prestige Insurance Brokers, Ltd, Prince Feyisayo Soyewo to Ayokunle Gbenga of WAICA Re.
Ayokunle Gbenga thanked NAIPCO executives for finding WAICA Re worthy and honouring the company with the excellence award.
