WAICA Re: capital increase
Waica Re, the Sierra Leonean reinsurer that has recently established a group structure, plans to increase its share capital from 64 million USD to 100 million USD. This transaction, carried out in six instalments, will allow Waica Re to strengthen its shareholder’s equity. The reinsurer will thus be able to position itself on major risks, especially those of the oil and gas sector.
Waica Re is present in Kenya, Zimbabwe, Ghana, Côte d’Ivoire, Tunisia and Nigeria. The reinsurer reported a turnover of 58 million USD in 2018, up by 4% compared to the 55.8 million USD of 2017.