WAICA Reinsurance Corporation (WAICA Re) said it closed its 2019 financial year with a gross written Premium (GWP) of $70 million, showing 21 per cent growth from 2018 figures. The reinsurance firm, also achieved a profitability of $9.5 million, which represented a profit growth of 38 per cent, even as its Total Assets remained strong at $137 million and a shareholders fund of $89 million. He said the firm, has expanded its operations across West Africa, East Africa, North Africa and Southern Africa, whilst writing reinsurance businesses from Africa and beyond. The company, he added, has grown from a zero gross premium to $70million in 2019 and still continues to grow. He re-assured all stakeholders that WAICA Re has been positioned for continuous growth and improvements and that it was ready to do more to ensure stakeholders were adequately covered and compensated.

Source: The North Africa Journal July 08, 2020 04:07 UTC