FBS Re partners Munich to train African insurers

By Chisom Nwatu

FBS Reinsurance Limited has partnered with Munich Re to train practitioners in the insurance sector.

The training, which was held in Lagos with the theme “Emerging trends in pricing and claims optimisation, with special reference to the casualty line of businesses”, was part of FBS Reinsurance Limited’s commitment to enhancing human capacity development in the African region.

It was facilitated by members of Casualty and the Global Consulting Unit of Munich Re for senior underwriters, claims administrators, business developers and marketers in Nigeria and other African markets.

The aims of the training were to appreciate the current trends in efficient pricing and claims optimisation and to up-skill client’s knowledge in the post-COVID-19 era and digitalisation.

Fola Daniel, chief executive officer, FBS Re, said the training is a continuation of FBS Re’s determination to help build the market capacity and the reduction of knowledge gaps in specialist underwriting areas of operations.

“This programme is coming almost back-to-back with the FBS Re’s specialist training on cyber security, bankers blanket bond and other emerging financial lines in the African market, held in Accra, Ghana recently,” he said.

Major focuses of the training were casualty in insurance, which included the law and liability – pricing and emerging risks; specific products focus on professional indemnity including SPPI, directors and officers, public and product liability; and key underwriting & claims considerations.

FBS RE aims at increasing reinsurance capacity availability to the ceding companies, thereby enhancing insurance market penetration. The company also deploys advanced technology in providing reinsurance services with a view to supporting innovation, creativity in product development and marketing.