Ebere Nwoji
FBS Reinsurance Limited, has reaffirmed its ambition to turn out to be a number one reinsurance establishment in Africa and the worldwide market, with plans for regional enlargement and a capital-raising programme to strengthen its development.
The Managing Director/Chief Executive Officer, FSB Insurance, Mr. Ganiyu Musa , has stated that his firm was pursuing regional enlargement according to the National Insurance Commission’s (NAICOM) name for Nigerian insurers to discover different markets.
Musa, disclosed this at an insurance coverage trade leaders’ discussion board organised by FBS Re in Lagos not too long ago.
He nevertheless stated such enlargement would rely on regulatory necessities, market circumstances, threat urge for food and the corporate’s monetary capability.
The discussion board, with the theme Connecting Leaders, attracted high trade executives and greater than 40 chief govt officers from the insurance coverage trade.
Musa stated FBS Re was established by skilled insurance coverage professionals involved concerning the state of the reinsurance market and the challenges dealing with the trade in Nigeria and throughout Africa.
He described the corporate as a professionally owned and managed establishment dedicated to strengthening native reinsurance capability, retaining extra insurable dangers inside Africa and supporting the Nigerian insurance coverage market.
“FBS Re remains proudly Nigerian, and we are committed to demonstrating that indeed a Nigerian reinsurance institution can build the expertise, the capacity, and partnerships required to compete successfully across Africa,” he stated.
Musa disclosed that the corporate was pursuing regional enlargement according to the National Insurance Commission’s (NAICOM) name for Nigerian insurers to discover different markets
He famous that enlargement would rely on regulatory necessities, market circumstances, threat urge for food and the corporate’s monetary capability.
He additionally revealed that the board was contemplating plans to invite current stakeholders and potential buyers to take part in a capital-raising programme by means of a non-public placement, adopted by an preliminary public providing.
