WAICA Re opens off-shore office in Abidjan

WAICA Re’s has opened an off-shore contact office in Abidjan, Cote d’ivoire, re-enforcing the firm’s commitment towards regional integration.

WAICA Re is the flagship of reinsurance company of the Anglophone countries of the West African sub-region and is strategically positioned to become one of the leading global reinsurance players in the nearest future.

Abiola Ekundayo, group managing director of the Company said at the formal opening of the office that the regional integration is substantially achieved as CICA Re and WAICA Re would be able to work together reciprocally and exchange ideas that would lead to the growth of the insurance industry in the sub-region.

Presently, WAICA Re enjoys good business relationship with all the Francophone reinsurance companies in the sub-region i.e. NCA Re, Aveni Re, Senegal Re etc, he said.

“Today history is made in the ancient city of Abidjan as the twin sister of CICA Re is born.  While CICA Re is owned by the French speaking countries of the West African sub-region, WAICA Re belongs to the English speaking countries of West Africa, namely Nigeria, Ghana, Sierra Leone, Liberia and The Gambia.  It used to be a reinsurance Pool.”

WAICA Re has its headquarters located in Freetown, Sierra Leone with two regional Off-Shore Contact offices in Lagos, Nigeria and Accra, Ghana. The third Off-Shore Contact office is right here in Abidjan, Cote d’Ivoire. The authorised share capital of the Corporation is $100 million and paid up capital is about $30 million.  Our mission is ‘To provide reinsurance capacity through a highly motivated workforce and the use of advanced technologies to deliver unparallel service to our clients while creating value for our Shareholders’.

It’s vision is ‘To develop reinsurance capacity with a view to widening economic and financial development of the West African sub-region’.