About Us

The West African Insurance Companies Association (WAICA),a regional Association of insurance companies and institutions in English speaking West Africa, was founded in 1973 by insurance institutions with the blessing of their respective governments in the five English speaking West African countries, namely;

Gambia, Sierra Leone, Liberia, Ghana & Nigeria.

Our activities in our various member countries are still attended and supported by distinguished Government personalities at Ministerial and Presidential levels.
Because of the international nature and structure of the organisation, it was agreed by the Founding Fathers to locate the headquarters of WAICA in Accra, Ghana. However, for various reasons the organisation did not operate on a full-time basis for most of its existence and was manned on a part-time basis from the offices of the then State Insurance Corporation, now SIC Insurance Company, of Ghana.

The then Executive Committee (now Governing Council) wanting to develop the organisation into its full potential, and given the international make-up of the organisation, has, after a rigorous selection process which included interviewing potential candidates from each of the member countries, appointed a Secretary General/Chief Executive Officer for the organisation on a full-time basis.

AIMS & OBJECTIVES

The Founding Fathers at the birth of the Association set out the aims and objectives for the body.

Some of these have been achieved, some are on-going and others are no longer relevant.

The current list includes;

To encourage the exchange of information, data and experience among member
companies

To encourage the exchange of business among member companies operating within Anglophone West Africa and beyond

To take reasonable steps aimed at reducing or eliminating economic waste arising from fires, accidents and other elemental causes.

To encourage the writing of books and articles on insurance in the region, that will enhance
awareness of the impact and benefits insurance has in the socio-economic development of people.

To work with relevant stakeholders (International and Government Agencies and Private sector operatives) to achieve a harmonise insurance industry in West Africa and thereby creating a borderless sub-region.

To encourage the development of the insurance market in each member country on sound and technical basis. Such development is inclusive of the developing of the insuring public from the economic and social angle.

To take any other necessary steps which are in the interest of members and which directly or indirectly have positive benefits on the lives of the communities within which members operate and promoting the objectives and aspirations of the Association.

To encourage the promotion of insurance education in each country and to encourage existing educational institutions such as universities to initiate courses and training programs on insurance and allied subjects as well as encouraging the exchange of business and personnel between companies.

ACHIEVEMENTS

WAICA has made a tremendous impact over the years since its inception in the business of insurance in the sub-region and the indications are that it will continue to play a dominant role in the development of insurance in West Africa.

ACHIEVEMENTS

Organising periodic attachment programs with insurance companies in member countries to encourage the development of the insurance market.
Initiating and facilitating the idea of creating a borderless sub-region to enhance free movement of people goods and services. This has resulted in the ECOWAS Brown Card Motor Insurance Scheme
The establishment of West African Insurance Institute (WAII) in collaboraton with 5 English speaking West African Governments and the United Nations Conference on Trade and Development (UNCTAD) in Liberia now located in The Gambia.
As a precursor to a fully fledge Reinsurance Company the Founding Fathers created a Reinsurance Pool now WAICA Reinsurance Corp Plc.
Establishment of the regional reinsurance Corporation (WAICA Re) in 2011, currently the institution has subsumed the operations of the WAICA Pool into its own activities.
In collaboration with ECOWAS and African Trade Insurance (ATI), WAICA has attracted Foreign Direct Investment (FDI) for member states by providing insurance coverage for sovereign and political risk.
WAICA-Banjul 20 conference gave birth to the West African Insurance Supervisers Association (WAISA). A regulators forum whose mandate was to work towards a harmonised insurance industry in West Africa.

Why Choose Us

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Over 2,000+ Business Cases

We take pride fighting for individuals, not big insurance companies.

Operated in 15+ Countries

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