Insurance Company coaches legislators on averting business risks

AN insurance company operating in four African countries, has conducted an awareness campaign to members of Parliament with a view to helping them have a broader knowledge on how to minimise and prevent business losses.

Grand Reinsurance (Grand Re) is currently camping at Bunge grounds in Dodoma to provide knowledge to lawmakers who are currently attending the ongoing marathon budget sessions.

With its Headquarters in Botswana, the company also operates in Tanzania, Cameroon and Zimbabwe where it provides reinsurance and financial solutions to short-term insurance companies across the Sub-Saharan Africa.

At Bunge grounds yesterday, the company’s Business Development Manager, Mr Charles Chanya said that they had decided to bring an eye-opener to legislators because they were key figures in the country’s economy as they were debating serious matters concerning the country’s Development projects.

“The government has been also attracting more investor’s to come to Tanzania because of the present superb business environment and we are aware that business is about risks and risks are complex and economical,” he said adding that geopolitical situations change, business environment changes but one thing that remains constant is our commitment to finding solutions that minimise or prevent our clients from suffering financial losses.”

According to him, Grand Re was also offering insurance services to major projects going on in the country including the Standard Gauge Railway (SGR) project.

The company commenced operations in 2005 providing reinsurance solutions to cover all short term business. It is a wholly owned subsidiary of Masawara and part of a bigger insurance group and enjoys stability and security offered by this association of companies with a wealth of experience

“We provide sound reinsurance and financial services to Tanzania and entire African Insurance market. Over the years we have shown excellent service in the markets we serve. Our reassurance to our clients is that we have the same commitment to excellence as they do and the resources to back it up, said the company’s Marketing Officer, Augustine Ndabaha.

Tanzania Insurance Regulatory Authority (TIRA) Public Relations Officer, Oyuke Phostine said that the government was implementing several flagship projects which need strong reinsurance companies like Grand Re.

“With such companies we can avert all possible economic and social risks that are likely to occur in the country.


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