Ghana Re tipped for African market

March 7, 2017
Ghana Re tipped for African market

African risk managers that participated in the 11th Ghana Reinsurance Company’s international seminar has expressed confidence in the company to reinsure all African businesses.

The participants have described Ghana Re as a “pride” and “assets” to the continent’s insurance and reinsurance industry.

They say Ghana Re has always come to their aid in training and accepting risks which all other reinsurers globally will not accept.

These comments were expressed by participants at the closing ceremony of Ghana Re’s 2017 annual international seminar on “Risk Management, Pre and Post loss survey” held in Takoradi a forth night ago.

About 64 participants drawn from the continent participated in the weeklong seminar. The program was carefully designed to fulfill the increasing demands of services by insurers across Africa.

The course covered valuation of physical properties, hazards associated with risks, policy wordings, merchandised in sight and out of sight, verification of books of accounts, establishment of insurable interest and reinsurance claims assessment.

Seth Nyamadi, Deputy Managing Director, Finance and Administration, who stood in as Chairman of the closing ceremony whilst addressing the participants said, “Prevention as we all learning from an early age is better than cure in our world, it is therefore better to stop accidents happening, by improving work practices, thwart and protect against extremes of weather than to rely on insurance claim payments to compensate for losses incurred.”

The Chairman therefore pointed out that Ghana Re’s aim is to train to improve on the technical skills of it African clients.

“Indeed, risk managers are reducing the emphasis on transfer of risk through financial payment and focusing on prevention in the first place”, Nyamadi pointed out.

Dr. Abiba Zakariah, Managing Director, Ghana Re, also noted that both insurers and brokers globally have being developing specialised risk management skills in recognition of the fact that a better managed risk will be a more attractive preposition, bringing benefits to the insurer, broker and of course the clients.

Present at the closing ceremony were Mary Ohene-Adu, Senior Manager, Corporate Affairs and Mr. Rajan Srivatsan, Director of Professional Insurance Surveyors and Loss Assessors -- Pvt. Ltd, India, who acted as a resource person at the seminar.