Birth of Waica Re Group

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Waica ReWaica Re has announced, via its Chairman, the formation of a group following the establishment of several subsidiaries in 2018.

Last year, the Sierra Leonean reinsurer was granted regulators' approval to establish two subsidiaries in Kenya and Zimbabwe. Investment in the Kenyan structure is estimated at USD 10 million USD, while the one in the Zimbabwean entity is valued at 5 million USD.

Waica Re recorded a 4% increase of its turnover in 2018 at 58 million USD against 55.8 million USD in 2017. The group's growth is mainly accounted for by the increasing underwritings on the Tunisian (+ 134%), Nigerian (+51%) and French-speaking markets (+52%) between 2017 and 2018.

Waica Re has two subsidiaries in Kenya and Zimbabwe and four branches in Ghana, Côte d'Ivoire, Tunisia and Nigeria. It is headquartered in Freetown, Sierra Leone.

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Tue, 30/07/2019 - 08:48
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