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New WAICA president sets agenda

By on March 28, 2011

The New President, West African Insurance Companies Association, Mr Fatai Lawal, has disclosed the three point agenda that he plans to execute in the next one year.

A statement on Friday quoted Lawal as saying that the committee would ensure the strengthening of the WAICA’ secretariat, ensure membership drive and push the growth the WAICA Reinsurance Corporation.

He said, “I intend to strengthen and equip the secretariat with the necessary tools and motivation to ensure efficiency and effectiveness. The impact of the secretariat must be felt across the length and breadth of member countries.”

He added that there was the need to immediately strengthen the secretariat to deliver greater values to members because it would make them proud of a secretariat where they would have access to information, data and experience among member companies.

According to him, the development of a functional website that will be a resource centre and a point of first reference for insurance activities in the sub-region will be vigorously pursued.

Lawal noted that WAICA was an umbrella association for insurance bodies, which included the brokers, insurance companies and reinsurance companies, in the West African countries. He added that it had immense opportunities for membership expansion.

According to him, it is hoped that the broadening of membership of the association will provide a vehicle for interactions and formation of alliances that will strengthen the region in the global competitive economy.

The WAICA boss said that the association intended to build a strong and solid foundation for WAICA to provide the much-needed reinsurance capacity for the region.

When fully operational, he added that WAICA Re would be a veritable vehicle for the economic development of the sub-region.

He said that very soon the shares of the company would be offered for subscription.

Source : Punch