AIO, WAICA Strike Strategic Partnership Deal

PRESS RELEASE

The African Insurance Organization (AIO), and the West African Insurance Companies
Association (WAICA) have signed a strategic partnership deal to advance the frontiers
of insurance in the subregion. The aim is to recognise the important role that
cooperation plays in developing the insurance and reinsurance industry in Africa, and
by extension, in the West African market region.
The arrangements aim at establishing the basis for cooperation between the parties
without imposing any legal obligation on either party, will enhance technical know
how and expertise of the human capital, exchange of information, statistics and
reports and encourage exchange of business among members.
Specifically, both organizations have agreed the framework for cooperation that
will enable each party to benefit from the common activities of the other party and
pursue their respective goals.
AREAS OF COMMON INTEREST
In recognition of the important role that the insurance and reinsurance industries
play in protecting the savings of individuals and assets of corporates and in
mobilization of financial resources needed for economic growth, the parties have
agreed the following:
3.1) Support and promote regional and continental discussions aimed at the
development of the (re)insurance industry.
3.2) Actively promote the conferences and events organised by either party.
3.3) Participate in the conferences, seminars and workshops organised by
either party.
3.4) Extend invitations to the President and Secretary General to attend the
other party’s conferences and forums at no fee.
3.5) Arrange Joint technical webinars/seminars/workshops.
3.6) Exchange reports and publications as each party may deem feasible.
Each party will determine its publication which will be shared on the
website of the other party.
3.7) Under no circumstance shall the reports/publications shared by either
party be used for financial or pecuniary benefits.
Speaking on the agreement, Secretary General of the African Insurance Organization
(AIO), Jean Baptiste Ntukamazina, said:
It is quite fulfilling and exciting for me to sign this agreement that will enhance and
improve the practice of insurance and reinsurance across the West African subregion.
I am sure that both the AIO and WAICA will benefit immensely from this initiative
which will be for the collective good of all professionals.
On his part, the Secretary General of the West African Insurance Companies
Association (WAICA), Davis Iyasere stated that: The MOU will open a new vista in the
cooperation between the two organizations, even as he expressed the hope that both
AIO and WAICA will benefit from the deal. The insurance industry in West Africa will
benefit immensely from this deal given the network and resources available to the
AIO.

Davis Iyasere
SG/CEO
WAICA