The African Insurance coverage Organisation (AIO), and the West African Insurance coverage Corporations Affiliation (WAICA) have signed a strategic partnership deal to advance the frontiers of insurance coverage within the subregion.
The goal is to recognise the essential position that cooperation performs in growing the insurance coverage and reinsurance business in Africa, and by extension, within the West African market area.
The partnership which goals at establishing the premise for cooperation between the events with out imposing any authorized obligation on both social gathering, will improve technical know-how and experience of the human capital, trade of data, statistics and studies and encourage trade of enterprise concepts amongst members.
Particularly, each organizations have agreed the framework for cooperation that may allow every social gathering to learn from the widespread actions of the opposite social gathering and pursue their respective objectives.
Areas of Widespread Curiosity
In recognition of the essential position that the insurance coverage and reinsurance industries play in defending the financial savings of people and property of corporates and in mobilisation of monetary assets wanted for financial development, the events have agreed to help and promote regional and continental discussions aimed on the improvement of the (re)insurance coverage business, actively promote the conferences and occasions organised by both social gathering and take part within the conferences, seminars and workshops organised by both social gathering.
The others are extended invites to the President and Secretary Normal to attend the opposite social gathering’s conferences and boards at no charge. Every social gathering will decide its publication which might be shared on the web site of the opposite social gathering.
Below no circumstance shall the studies/publications shared by both social gathering be used for monetary or pecuniary advantages.
Talking on the settlement, Secretary Normal of the African Insurance coverage Organisation (AIO), Jean Baptiste Ntukamazina, stated:
It’s fairly fulfilling and thrilling for me to signal this settlement that may improve and enhance the observe of insurance coverage and reinsurance throughout the West African subregion. I’m positive that each the AIO and WAICA will profit immensely from this initiative which might be for the collective good of all professionals.
On his half, the Secretary Normal of the West African Insurance coverage Corporations Affiliation (WAICA), Davis Iyasere said that the MOU will open a brand new vista within the cooperation between the 2 organisations, at the same time as he expressed the hope that each AIO and WAICA will profit from the deal.
The insurance coverage business in West Africa will profit immensely from this deal given the community and assets accessible to the AIO. The settlement might be reviewed periodically.
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