FBC Holdings, one of Zimbabwe’s leading financial services entities, has established a fully-fledged Reinsurance Company in Botswana as part of the firm’s regional growth and expansion strategy. The new entity will operate as FBC Reinsurance Botswana and the company says it is set to redefine the insurance landscape in Africa and the world at large by offering customised reinsurance solutions that meet the unique needs of clients.
“From inception and in line with the FBC Group’s strong appetite for regional expansion, we have always had a vision to operate in Botswana. The FBC Corporate Visual Identity is blue which is consistent with the “Botswana” blue colour; an affirmation of a long-standing aspiration to be in this beloved country. Our corporate identity is aligned to national colour identity of Botswana,”
Mr Herbert Nkala (FBCH Group Chairman)
The official launch event for FBC Reinsurance Botswana was held at Phakalane Golf Estate Hotel & Convention Centre in Gaborone recently. The high-profile launch event was attended by delegates from the Botswana Investment and Trade Centre (BITC), Botswana’s Non-Bank Financial Institutions Regulatory Authority (NBFIRA), Zimbabwe’s Insurance and Pensions Commission (IPEC), captains of industry as well as FBC Reinsurance stakeholders, board members, management and staff members. The guest of honour was Ms Malebogo Kote the Manager of Investment Promotion Botswana Trade and Investment Centre-BITC.
“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. 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”.
Ms Malebogo Kote, Manager of Investment Promotion Botswana Trade and Investment Centre-BITC
FBC Reinsurance Botswana specialises in providing reinsurance solutions and risk management services to regional and global clients. The company 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 accidents, political violence and terrorism.
FBC Reinsurance Botswana is a wholly owned Strategic Business Unit (SBU) of FBC Reinsurance Zimbabwe which is part of the flourishing FBC Holdings Group. FBC Reinsurance has over 25 years of success in serving the unique needs of diverse companies in the insurance sector. The company was established in 1995 as Southern Africa Reinsurance Limited (SARE). It was then re-branded to FBC Reinsurance in 2004.
With over 25 years of experience in the sector, FBC Reinsurance is a leading reinsurer with a proud record of service excellence in the insurance industry. The company provides risk transfer solutions to insurers in Africa and beyond. FBC Reinsurance’s key role is the provision of underwriting services that allow insurance companies to assume individual risks that are greater than their size would otherwise allow and protect the insurers’ balance sheet against catastrophic losses.
Addressing delegates at the FBC Reinsurance Botswana official launch cocktail, 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 service 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, and maintaining stable, mutually-beneficial and long-term customer relationships. FBC Reinsurance Botswana is led by Patrice Chikuyo (Managing Director) and the new unit has been fully capacitated with human, financial and technological resources that enable it to deliver top-notch customer experience for the benefit of our valued clients. FBC Re Botswana possesses the requisite technical insurance industry expertise, financial capacity, market insight, creative, and technological capabilities required for providing relevant solutions that meet the unique needs of regional customers.“
Kleto Chiketsani, FBC Reinsurance Managing Director
FBC Reinsurance Botswana is a service-driven and customer-obsessed entity that is prepared to go the extra mile in serving our valued clients. Therefore, the entity’s value chain processes have been designed to meet or exceed all clients’ expectations. Commenting on the side-lines of the FBC Reinsurance Botswana launch cocktail, Dr John Mushayavanhu, FBCH Group CE commended key stakeholders in Botswana for enabling FBC to operate in the country.
“Allow me the liberties to extend my sincere and profound gratitude to the Republic of Botswana, Non-Bank Financial Institutions Regulatory Authority (NBFIRA) as well as the Botswana Investment and Trade Centre (BITC) for allowing the Fbc Reinsurance brand to operate in this country. We treasure your support in accommodating the FBC Brand to be one of the key players in this country’s insurance sector,”
Dr John Mushayavanhu, FBCH Group CE
Roy Nyakunuwa Head of FBC Group Marketing said the FBC Brand continues to grow from strength to strength as a result of the unwavering support from clients and key stakeholders.
“We are proud of launching the FBC Brand in Botswana as we position the brand for disrupting the regional insurance sector through championing the development of innovative and client driven solutions to customer needs. We give thanks to our valued clients and all stakeholders for the invaluable support that has driven the outstanding success of FBC as a brand. Our preeminent ability to grow FBC from a dominant household name to a strong regional brand is an outstanding achievement that is anchored on strong client and stakeholder support. Therefore, we are forever grateful to our clients and stakeholders”.
Roy Nyakunuwa Head of FBC Group Marketing
FBC Reinsurance continues to enjoy impressive recognition as a stable, flourishing and exceptional brand as evidenced by credit rating and industry recognition. FBC Reinsurance’s underwriting capacity and strength are reflected in its A- credit rating from the Global Credit Rating, an international rating agency, which positions it above average industry and country rating. The entity’s products are an ironclad safety net for clients to leverage against the unexpected accumulation of claims, whilst enjoying value-added risk management advice and financial management services.
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