The Botswana authorities have approved the license for the establishment of a life insurance branch of the BAI in the country. BAI also initiated a strategic partnership with Regina Vaka, one of the largest business women in Botswana.
"The BAI is ready to start its activities in life insurance in Botswana in early 2014. We are proud to be a partner of high-level financial services sector in Botswana investing in this ambitious project, "says Rishi Sookdawoor, CEO of BAI.
"I look forward to embarking on this new adventure and I consider it a privilege to work in partnership with a group that knows such rapid growth," said Regina Vaka at the signing ceremony of the joint venture. It should be noted that more than Rs 150 million will be injected by partners as seed money for this project. Regina Vaka was also named CEO of the new company and Sorens Rughooputh up part of the BAI has been designated as Principal Officer.
Le Chief Manager de la Life Insurance Corporation of India (LIC) se dit fier de ce qu’a accompli la compagnie à Maurice dans l’industrie de l’assurance. Il a toutefois exprimé ses craintes quant aux fluctuations de la croissance du secteur chaque année.
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The insurance industry will grow by 10-15% this year, provides Abdel Ruhomutally 'Deputy Managing Director' at GFA Insurance. He decries the "fire sale prices" practiced by insurance companies and commented in the wake of SICOM involvement in the purchase of a building to Rs 600 million in Ebony.
8 years, 2 months ago