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| Non-life reinsurance training designed to improve knowledge and skills gap in Gambian industry (Photo: Participants - by Lamin Jahateh) |
In
that regard, the corporation hold a two-day training (March 24-25) on ‘non-life
reinsurance’ in collaboration with Insurance Association of The Gambia (IAG) at
a local hotel in Banjul.
“The
training is specifically designed to increase and improve the knowledge and
skills gap in non-life reinsurance in The Gambia insurance industry,” the
Nigeria-based pan-African company states.
Technical
subject
Steve
Odjugo, regional director of Continental Reinsurance, says The Gambia training
is part of a series of trainings that the Corporation is embarking on in 2014.
“This year, we are having nine trainings in different locations in Africa and
this training is one of them.”
The
trainings are tailor-made to the needs of the specific markets that they are
holding it, he says.
Mr
Odjugo explains: “We go around visiting the insurance markets in Africa, from
our discussions and engagements with the market we got to know the areas of the
business where there is insufficient knowledge in that market.
“When
we know of such knowledge gap or gaps in world best practices, we try to bring
resources to bridge those gaps, to address those areas of need.”
He
says they have been discussing about this training in The Gambia for two years
- finding out what area of need is in the Gambian insurance market that the
Corporation can help address.
Odjugo
says after thorough discussions in different areas, they decided to focus on
reinsurance because it is a “very technical subject” in insurance.
Develop
financial systems
“The
purpose of the training is not to make the participants reinsurance expert but
to bring some aspects of the practice of reinsurance for all the participants
to discuss and learn from,” he explains.
Pa
Alieu Sillah, Commissioner of
Insurance at the Central Bank of The Gambia, says the training demonstrates the
strong ties between Nigeria and The Gambia and is a part of efforts to develop
the financial systems in the sub regional economic bloc, ECOWAS.
He
says the participants will gain technical knowledge and skills to enable their
meaningful contribution to the growth and development of their various
insurance companies and the country’s economy in general.
Not a stranger
IAG’s
secretary general Henry Jawo says Continental Reinsurance is not a stranger in
the Gambian market.
Most
of the insurance companies in the country have been doing business with
Continental Reinsurance and the company has been very supportive to the Gambian
insurance industry, he says.
“Along
the years, we have always had their backings in all endeavors that the Gambian
insurance market undergoes,” says Mr Jawo.
Continental
Reinsurance Corporation is the largest private reinsurance company in Africa if
South Africa is excluded.
Written by Modou S. Joof
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