Since our licensing earlier this year on 27 March 2024, Finsbury Reinsurance Limited (Fin Re), the newest proud member of the African Insurers Organisation (AIO), marked a significant milestone by making its debut at the 50th African Insurers Organisation (AIO) Conference and General Assembly. This was a prime opportunity for us to introduce the brand to fellow market players and potential partners, showcasing our commitment to the industry and our potential for growth.
The event was held in Namibia at the Mercure Hotel from 1 to 5 June 2024 under the theme ‘Coping with rising natural catastrophes across Africa’. This annually held event, known for its dynamic and impactful networking platform, did not disappoint as it attracted more than 1200 people from various parts of the African continent and beyond.
Fin Re’s executives, the Managing Director and the Chief Operating Officer were delighted to have fruitful, cordial discussions with various companies, among insurers, reinsurers and reinsurance brokers. The three-day interaction was characterised by positivity and high energy, which created the perfect atmosphere for progressive reviews and deliberation around the development of our African reinsurance market, providing solutions and addressing African capacity challenges. It was thought-provoking and invigorating to hear from brilliant speakers such as Mikir Shah, Founder and CEO of Africa Specialty Risks, and Hope Murera, Managing Director and CEO of ZEP-RE and Sylvia Mwangi, DRIVE Lead at ZEP-RE, who presented on great topics of discussion, as we put minds together on matters of common concern.
Evidently, the continent’s high vulnerability to disasters, as detailed by the IPCC, World Risk Report 2023 and other studies, underscores the need for improved infrastructure resilience and support for vulnerable populations to mitigate the negative impact of disasters on Africa’s economic and social progress. The Africa Insurance Pulse 2024 publication states that the re/insurance industry is integral to building disaster resilience in Africa, serving as a cornerstone of disaster risk management.
The Fin Re team was pleased to meet among many other securities, Munich Re, Tan Re, Africa Re, Swiss Re, SCG Re, Himalay Re, Kuwait Re, Nepal Re, Appex Insurance, Neema Insurance MGA, and brokers including JB Boda, Chedid Re, Howden Re, Reinsurance Solutions, Maksure Risk Solutions, Mukfin, Protection Re, Afro-Asian, KEK Re, Pioneer Insurance and Reinsurance brokers, to name a few.
Lastly, we thank and congratulate the AIO President, Secretary General, and organising committee for hosting this year’s well-organised event.