By Rosemary Iwunze
WAICA Reinsurance Corporation has promised to support the winner of its maiden edition’s annual Corporate Social Responsibility (CSR) competition project and ambassadors for 2021/2022′ with $100,000, across all its operating countries.
Established in 2011 with the philosophy of strengthening the financial sector of the sub-region by providing greater and viable insurance and reinsurance capacity, the Corporation said the theme of its CSR competition is “Practical Solutions to Natural Disasters in West Africa.”
Speaking on this development, the Group Managing Director of the Corporation, Mr. Biola Ekundayo, said the winner of the competition will become WAICA Re’s goodwill ambassador for a year, having supported the winning project with up to $100,000, while the ambassador will have a cash award of $5,000.
There will also be first and second runners-up with cash awards of $2,000 and $1,000, respectively, he stressed.
Besides the competition, he said, WAICA Re has initiated several CSR projects across all its operating countries and has always felt that education is one of the major backbones of the industry and as a result has contributed immensely to education in the subregion as well as the development of the insurance industry.
Furthermore, he stated that WAICA Re has made giant strides because of the inestimable supports it is getting from the reinsurance market across Africa, Middle East and Asia.
The Corporation, he said, started as a spark in July 2011 in Sierra Leone, West Africa.