By Favour Nnabugwu

Waica Re is organizing the 2023 edition of its annual ESG competition under the theme: “Practical Solutions to Environmental, Social and Governance (ESG) Related Risks in West Africa”.

The event is open to individuals, teams and corporate entities in West Africa.

Participants must write an essay describing a project that addresses at least one of the United Nations’ 17 Sustainable Development Goals (SDGs). Interested parties are invited to submit their applications by e-mail to: esg@waicare.com, by 31 March 2023 at the latest.

At the award ceremony, the jury will select the top three winners. The winner will be designated Waica Re Ambassador (WRA) for a period of one year and will receive a cash prize of 5 000 USD.

The 2nd and 3rd runners-up will be awarded 2 500 USD and 1 000 USD respectively.

The winning project’s amount must not exceed 100 000 USD and must be implemented within nine months.

WAICA Reinsurance Corporation Plc is a public limited liability company incorporated under the laws of Sierra Leone (Companies Act 2009) on 7th March 2011. In the years following the creation of West African Insurance Companies Association (WAICA) in 1973, the founding fathers had the desire to establish a reinsurance organisation to help mitigate the effects of the lack of reinsurance capacity within the West African insurance industry.

To fulfill this ambition, the founding fathers considered it prudent to start off by creating a reinsurance pool which hopefully will someday metamorphose into a fully fledged reinsurance corporation. Today, the WAICA Reinsurance Pool has turned into WAICA Reinsurance Corporation Plc, a dream come true.

The main objective of the company is to provide reinsurance services to the insurance sector in West Africa and other regions. In broad terms, the objectives of the company include: 1. To effectively and efficiently manage the business of reinsurance, primarily though not exclusively, across the sub region; 2. To achieve excellence in our management systems and standards by employing best practices through an efficient and responsive management and an empowered and highly motivated work force; 3. To create enhanced value for our shareholders and other stakeholders.