By Favour Nnabugwu
AFRICA Reinsurance Corporation (Africa Re) said its South Africa’s (ARCSA) Managing Director, Daryl De Vos, has resigned. De Vos’ resignation in a letter to the board of directors of Africa Re South Africa takes effect from September 1, 2017.
He joined the company as General Manager, underwriting and marketing in December, 2003 and became Managing Director in July 2011.
While the ARCSA board is looking for a successor, Deputy Managing Director, Sory Diomande, will be handling the management of the company with the assistance of Executive Director, Finance, Ibrahim Ibisomi.
At the same time, Africa Re said that George Mensah has been appointed as Managing Director of state-owned Ghana Re. Mensah was previously Assistant Director, Treasury and Investment of Africa Re. He will replace Abiba Zakariah. Mensah has already joined the board of Ghana Re.
Ghana Re controlled 60 percent of the local reinsurance market as of December 2015. Its total premium income is estimated at $36 million as of December 2016, of which 33 percent is international business and 67 percent local market business.