Visal Reinsurance Brokers Limited (Visal Re) in partnership with iRisk Reinsurance Brokers Limited (iRisk Re) organized an educational workshop on treaty reinsurance accounting for the insurance market.

The three-day non-residential workshop held from Tuesday, October 11 to Thursday, October 13 at the Holiday Inn Hotel, Airport-Accra was aimed at building the technical capacity of their clients.

Visal Re & iRisk Re are reinsurance intermediaries that assist insurance companies in getting additional security for the risk they assume from the public. The two companies are members of the Chartered Insurance Institute of Ghana.

Mr. Sam Norman Sali, Ag. Managing Director of Visal Reinsurance Brokers in his opening remarks stated that the training was strategically organized to empower the market with the needed knowledge for their upcoming reinsurance treaty renewals. This is an important area for every insurance company as it is a determinant factor in deciding their underwriting capacity as a firm.

Mr. Mubarik Ibrahim, the Managing Director of iRisk Reinsurance Brokers reiterated that the training workshop was their way of contributing to the capacity development of the insurance industry as well as giving back to their cedants, in appreciation of their business support.

The able facilitator of the training, Dr. Kwaku Appietu-Ankrah, Head of Domestic Operations at Ghana Reinsurance PLC urged participants to be disciplined and apply the appropriate strategies to suit their companies’ growth plan.

At the closing ceremony, where participants were awarded certificates, the Chairman of the ceremony, Mr. Gustav Siale, former CEO of Ghana Reinsurance PLC and currently a Director at Visal Reinsurance Brokers, encouraged the organizers to keep up the good work of educating professionals in the industry and urged the participants to apply the knowledge gained to develop the Ghanaian insurance sector and beyond. 

The Workshop, which was targeted at Technical Directors, Chief Operations Officers, Chief Finance Officers, and Reinsurance Managers saw participants from all insurance companies in Ghana with others from the Gambia and Liberia. Participants agreed that the sessions were practical, hands on and served as a refresher course going into the treaty renewal period.