adminBusiness Reporter
FMRE Property & Casualty is considering expanding into the North and West African markets after identifying opportunities in the markets.
The reinsurer last week seconded staff to conduct agriculture training in Abidjan, Côte d’Ivoire, in a development that would enhance
the reinsurer’s profile on the continent.
The training was initiated by a local reinsurer, Aveni Re in collaboration with a London Based reinsurance broker, APG.
FMRE Property & Casualty managing director Mr Ian Tavonesa, who was conducting the training, said they had already identified possible avenues that they could exploit.
“For FMRE this has given us an opportunity to introduce our brand in this strategic part of the continent.
“There are glaring reinsurance opportunities which FMRE can exploit through such initiatives,” he said.
Participants to this workshop
were drawn from several countries among these countries are Senegal, Sudan, Tunisia, Liberia, Cameroon, Nigeria and Sierra Leone as well as Ghana.
“The training touched on various aspects of agriculture insurance which include crop insurance, drought, livestock, aquaculture and forestry.
“You would probably know that Liberia is one of the major producers of rubber in Africa while Côte d’Ivoire’s 29 percent of exports is agriculture. Coco and coffee are the major cash crops for Côte d’Ivoire,” he said.
Mr Tavonesa said what came out clearly in the workshop was that there is dire need of agriculture instance in these countries but is limited by lack of knowledge on how to package suitable covers and distribution channels that are cost efficient.
“There is also need for Government support in terms of premium subsidies since some farmers may not afford premium. Sudanese government is already subsidising premium on strategic crops,” he said.
Online Reporter