PAN AFRICAN INSURANCE AGENCY SEEKS CLOSER TIES WITH CHINESE INSURERS

| May 5, 2017

NAIROBI, The pan-African investment insurer, African Trade Insurance Agency (ATI) is seeking closer ties with Chinese firms so as to increase investment flows into the continent, company officials here say.

ATI Chief Underwriting Officer John Lentaigne told Xinhua Thursday that Africa was still perceived to be a risky investment destination despite its high rates of investment returns.

"So we want to partner with Chinese firms so they feel more confident in investing in Africa," Lentaigne said when ATI released its financial results for 2016. "Already, we are seeing demand from Chinese companies which want to protect their investments."

Chinese investments into Africa have accelerated over the past decade to play an increasingly important role in the socio-economic development of the continent.

The ATI official noted that currently, most of these Chinese firms depended on Chinese state insurers to mitigate their risks in Africa. "We want to partner with Chinese firms so that we help them explore other alternatives to mitigate their risk," he said.

Source: NAM NEWS NETWORK

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