The Ghana Reinsurance Company Limited (Ghana Re) has held its 40th Anniversary retreat in Accra, with a call on Ghanaians to insure their property to enable them recoup their losses.
The aim of the retreat was to bring unity among partners in Ghana, to help address the grievances of clients and to examine the merits and demerits of phasing out the mandatory cessions becoming a norm in Africa.
Mr Gustav Saale, Managing Director of Ghana Re commended government for its efforts and contribution towards the growth of the company.
He said Ghana Re had chalked out success and trust among clients through its good relationship and the excellent discharge of it responsibilities.
Mr Saak said the company is ready to reach out to new heights in its global networking to meet standards through clients’ suggestions.
He said Ghana Re was formed through the initiative of the United Nations Conference on Trade and Development, which encouraged developing countries to form local and regional reinsurance companies with the view to create increased local capacity.
Mr Albert Nduna, the Group Chief Executive Officer of Zimre Holding in Zimbabwe advised insurance companies to adopt new ways of educating the public on the need to register their property with the insurance companies to secure them.
“Adopt insurance method that can also provide accurate and fast information to a large number of customers even in the face of dwindling financial resource to improve the work for the nation,” he added.
He said, some insurance companies charge high premium and as a result of that compelled the less privilege ones to withdraw allowing only the rich to enjoy the benefits.
Mr Nduna urged governments withdraw the operating licenses of insurance companies that do not obey the standard as laid down in the insurance Act 2006, Act 724.
He commended Ghana Re for its good work and urged others to emulate.