Africa Reinsurance Corporation (Africa Re) has recently expanded in the Brazilian market in accordance with the cooperation protocol with IRP-Brasil firm, Omar Gouda Managing Director said.
Speaking to Amwal Al Ghad Arabic’s Website, Gouda explained that despite the expansion scope of the firm’s operations represent in Africa, but the company has a permanent strategy for expanding abroad.
The company’s board of directors put strategy to increase its capital , expecting that this boost will be completed to up US$ 200million by the upcoming years to reach US$500million paid up capital in conjunction with the company’s expansion plans, Gouda illustrated.
Moreover, the company is aiming US$730million premiums volume by the end of the current year according to the submitted plans that are being implemented.
