Insurance World

WAICA Re Plans To Surpass $100million Authorised Share Capital -Says MD

Ezekiel Abiola Ekundayo,MD/CEO WAICA Re

 

 

 

BY NKECHI NAECHE—–WAICA Re said it’s looking at going beyond 100million dollars authorized share capital moving forward.

The managing director/ CEO, Ezekiel Abiola Ekundayo, disclosed this to BusinessToday Online on the sideline of the just concluded AIO Conference held in Accra, Ghana.

He said when they were talking of 100million dollar, the company’s share was one share to one dollar but currently the company share to one dollar stands at $1.8, adding that by the time the additional share capital is raised, the authorized share capital of the reinsurer will be over 100million dollars in value.

On performance of the business, he said they have gone beyond Africa progressively, while noting that the company has been able to approach the business of reinsurance globally.

He added that the company has done very well in West Africa English speaking countries.

On its subsidiary in Kenya, he said the general business office has gotten approval in principle and will soon get its license from the regulator.

On claims payment he said the Kenya subsidiary has paid a total of 10millon dollars as claims.

WAICA Reinsurance Corporation Plc, owned by the West African Insurance Companies Association (WAICA), is set to deepen its operations across the entire African continent, Asia and the Middle East.

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