Africa Re completes first Cohort for Young Insurance Professionals
Africa Reinsurance Corporation has announced the completion of its first Young Insurance Professionals Programme (YIPP). The programme was initiated by the Africa Re and co-financed by the German development finance institution DEG – Deutsche Investitions – und Entwicklungsgesellschaft mbH, from funds from the German Federal Ministry for Economic Cooperation and Development.
The YIPP is a 9-month programme which gathered 250 young insurance professionals from 45 countries across Africa.
It started in October 2018 and ended in October 2019. The programme is an online training academically designed by the London School of Insurance in conjunction with Africa Re to fulfill its mission to foster the development of the insurance and reinsurance industry in Africa .
The programme is designed in two languages (English and French) for young professionals from various fields (economics, insurance, law, actuarial science, engineering, finance, accounting, business and medicine) and made up of 14 courses covering insurance, reinsurance, leadership and management.
With support from the Africa Re Foundation, the training of the 2nd cohort of YIPP commenced in February 2020, but due to the burning desire to further enhance the capacity of the young insurance professionals and facilitate the development of the insurance industry, Africa Re increased the number of trainees for the 2nd cohort from 250 to 1,000.
Corneille Karekezi, the group managing director/CEO of Africa Re, while signing the certificates of completion stated “the African insurance and reinsurance industry is developing rapidly and therefore needs sufficient and skilled professionals. We are proud to have initiated this training program which targets the very young Africans entering the industry because they are the future of our industry”
Development Bank Group (AfDB), the African Reinsurance Corporation (Africa Re), the leading reinsurance company in Africa and the Middle East, is a pan-African financial institution whose shareholding is split between African shareholders (75%) and non-African investors (25%). African shareholding comprises 41 African states, the AfDB and 114 African insurance/reinsurance companies from the 41 member countries. Headquartered in Lagos (Nigeria), Africa Re has a continental network of regional and local offices in Lagos (Nigeria), Casablanca (Morocco), Nairobi (Kenya), Abidjan (Côte d’Ivoire), Ebène (Mauritius), Cairo (Egypt) and Addis Ababa (Ethiopia) as well as two subsidiaries: Africa Re (South Africa) Ltd in Johannesburg and Africa Retakaful Ltd in Cairo (Egypt).