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City of Banjul
Thursday, February 25, 2021

New company poised to bridge knowledge in Gambian reinsurance market

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Steve Odjugo, regional director of Continental Reinsurance, said The Gambia training is part of a series of trainings that Continental Reinsurance will be embarking on this year. “This year, we are having nine trainings in different locations in Africa and this training is one of them,” Mr Odjugo said. He added that all their trainings are tailor-made to the needs of the specific markets they are going to hold it.   “We go around visiting the insurance markets in Africa; from our discussions and engagements with the market, we get to know the areas of the business where there is insufficient knowledge in that market. When we know of such knowledge gap or gaps in world best practices, we try to bring resources to bridge those gaps to address those areas of need,” Mr Odjugo explained.  

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He said they have been talking about this particular training in The Gambia for the past two years.  They were finding out what areas of need are in the Gambian insurance market that they (Continental Reinsurance Corporation) could come to be of help. “After thorough discussions in different areas, we decided to focus on reinsurance,” he said, noting that they chose reinsurance because it is a very technical subject in insurance.  However, he said the purpose of the training is not to make the participants reinsurance experts but rather bring some aspects of the practice of reinsurance for every participant to discuss and learn from.  

The secretary general of the IAG, Mr Henry Jawo, said Continental Reinsurance is not a stranger in the Gambian market.  He pointed out that most of the insurance companies in the country have been doing business with Continental Reinsurance and the company has been very supportive to the Gambian insurance industry.   “Along the years, we have always had their backings in all endeavours that the Gambian insurance market undergoes; in all these endeavours that we find ourselves in, Continental Reinsurance has always been there for the Gambian insurance industry,” Mr Jawo said.  He added that the resource persons brought in by Continental Reinsurance are experts in their fields.  According to him, the experts are ready to share their knowledge in reinsurance with the participants in order to make their operations better for both the insurance companies and the reinsurer.

 

Author: Lamin Jahateh

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