ATI records US$33 million underwriting profits in 2021 – CEO

Underwriting profitability increased by 11%, CEO, ATI

Government pledges support for ATI

ATI opens 22nd AGM

Chief Executive of the African Trade Insurance Agency, Manuel Moses has disclosed that the agency recorded a profit of US$33 million in 2021 from a previous US$29.8 million in the previous year.

This indicates an 11 percent growth from what was recorded in 2020.

Speaking during the opening ceremony for the 22nd Annual General Meeting of the African Trade Insurance Agency he noted that “In the last two decades, we have defined our growth strategy in order to remain relevant in this fast-paced environment by being innovative and client-centered. I know I can count on our shareholders’ trust and commitment to supporting our growth ambitions.”

He told shareholders and development partners that gross underwriting revenues of US$143.5million, up to 14 performance compared to the previous year.

ATI has been in operation for over 20 years designing innovative financial products to harness Africa’s unique trade, investment and development opportunities.

The Nairobi-headquartered pan-African multilateral insurer noted that it has an important role to play in supporting Africa to position itself in a better place to take advantage of the economic recovery.

The opening of the Annual General Meeting was chaired by Ghana’s Finance Minister Ken Ofori-Atta who outlined the ATI’s contribution to food security and the growth of the insurance sector in Africa.

Also, Vice President Dr. Mahamudu Bawumia who presided over the ceremony pledged Ghana’s continuous support to the ATI, “firstly because Ghana believes in ATI’s mission of transforming the continent into a prime trade and investment destination, and secondly because of the significant investments and economic activities that have been supported by ATI in Ghana.”



SSD/MA