Africa Re and ILO sign microinsurance agreement

Africa Re has signed a partnership agreement with the ILO’s Impact Insurance Facility to support and enhance the development of microinsurance markets in African countries.

The agreement was signed through Africa Re’s corporate social responsibility fund. It will see the reinsurance firm provide financial assistance to support mutually selected initiatives and activities of the ILO’s Impact Insurance Facility, with the aim of developing the capacity of insurance providers to offer valuable insurance products to the financially excluded population and promoting of cross country collaboration and sharing of good practices among African countries.

“The partnership fits perfectly in the mission of Africa Re, which is to foster the development of the insurance and reinsurance industry in Africa, to promote the growth of the national, regional and sub-regional underwriting and retention capacities and to support African economic development,” said Corneille Karekezi, group managing director and chief executive officer, Africa Re.