Afro-Asian Reinsurance Brokers promises specialist solutions

Afro-Asian Reinsurance Brokers Ghana Limited is poised to build an exceptional reputation as an efficient and innovative provider of specialist reinsurance service drawing from the resources available to it as an integral part of the Afro-Asian Insurance Services, UK.

Managing Director of Afro-Asian Reinsurance Brokers Ghana Limited, Samuel Adotei Asare, has promised localising the firm’s international expertise to suit local situations.

“That is what an international brand brings to you. It brings the expertise elsewhere and localise it to suit your local situation.”

The MD made the pledge at the official launch of the company in Accra, which marks a further extension of the group’s footprint into Africa with Kenya and Zimbabwe hosting the Eastern and Southern African markets respectively.

Board Chairman Mr John Adu-Kofi, vaunted the capacity of the company’s human resource base as having a grasp of the industry.

“The key successful risk management of Afro-Asian Reinsurance Brokers Ghana Limited is in the understanding of the risk, and with the support of the Afro-Asian Insurance Services (UK), we have engaged skilled analysts who will bring extensive market knowledge and product expertise to the organisation.”

Mr Adu-Kofi expressed commitment to building and nurturing long-term, durable relationships with clients adding: “Whenever we sign a contract we have the confidence that we will still write business with this partner in five years-time, because we invest in a relationship and want it to grow and prosper”.

He said the Ghanaian outfit has on offer complete suite of reinsurance brokering services to its clients and bring greater security and stability to the insurance industry.

Commissioner of Insurance and Guest of Honour, Justice Yaw Ofori, said the entry of Afro-Asian, reputed as a Lloyd’s Accredited Broker, will provide the local insurers “access to increase capacity and the unique risks solutions that Lloyd’s offers.”

Ofori also expects improved innovation as there will be direct solutions to the reinsurance of non-traditional risks which will lead to increased insurance penetration.

The Commissioner observed that total premium ceded by the local insurance market in 2017 was over GHS419 million as against GHS422 million in 2016 as he bemoaned the relatively untapped nature of the reinsurance sector despite the enormous prospects for growth.

He charged Afro-Asian Reinsurance Brokers Limited to be guided in its operations by the guidelines on reinsurance issued by the National Insurance Commission (NIC).

By Godfred Tawiah Gogo