ZIMBABWE Stock Exchange-listed financial services group FBC Holdings has launched a fully-fledged reinsurance company in Botswana as part of the firm’s regional growth and expansion strategy.
This comes a few months after the authorities in the neighbouring country gave the group the greenlight to operate.
Speaking at the FBC Reinsurance Botswana launch, Malebogo Kote, manager in charge of investment promotion at tge Botswana Trade and Investment Centre (BITC), who was the guest of honour at the event, said Botswana is ready for foreign direct investment.
“We are proud of being recognised as an investor friendly, lucrative, safe and profitable investment destination. Establishment of FBC
Re in Botswana is testament to the government’s firm commitment towards creating a conducive environment for attracting foreign direct investment in the country,” Kote said.
“The launch of FBC Reinsurance Botswana is a great unifier as it brings Botswana and Zimbabwe together as one family. l have no doubt that this launch occasion also enabled FBC to identify more investment opportunities in this wonderful country which has made commendable progress in creating a conducive environment for attracting foreign direct investments”.
FBC Reinsurance Botswana specialises in providing reinsurance solutions and risk management services to regional and global clients. The company says it has the experience, requisite competencies and technical capacity to write all lines of life and non-life insurance on a facultative and treaty basis, property and casualty.
The reinsurance company’s services include fire, motor, marine, aviation, agriculture, engineering, cyber risk insurance, miscellaneous accident political violence and terrorism.
FBC Reinsurance Botswana is a wholly owned strategic business unit of FBC Reinsurance Zimbabwe, which is part of the FBC Holdings Group. FBC Reinsurance has over 25 years experience.
The company was established in 1995 as Southern Africa Reinsurance Limited (SARE). It was then re-branded to FBC Reinsurance in 2004.
The company provides risk transfer solutions to insurers in Africa and beyond.
Kleto Chiketsani, FBC Reinsurance managing director said the decision to establish the brand in Botswana was driven by the entity’s strong desire to offer specialised services that meet the unique needs of regional customers.
“The establishment of FBC Reinsurance Botswana is of strategic importance for our valued clients as it gives the FBC Brand an edge in understanding our regional clients’ needs, maintaining stable, mutually-beneficial and long-term customer relationships,” Chitsekani said.
Speaking at the official launch of FBC Reinsurance Botswana, Herbert Nkala, the FBCH group chairperson, said the establishment of an FBC brand in Botswana defines the achievement of a vision that FBC Holdings has been striving to attain over the past 25 years. — Staff Writer.
