{"id":12419,"date":"2012-05-16T07:10:53","date_gmt":"2012-05-16T07:10:53","guid":{"rendered":"https:\/\/www.atidi.africa\/increased-demand-for-financing-africas-infrastructure-development-credited-for-insurers-112-growth-in-2012\/"},"modified":"2012-05-16T07:10:53","modified_gmt":"2012-05-16T07:10:53","slug":"increased-demand-for-financing-africas-infrastructure-development-credited-for-insurers-112-growth-in-2012","status":"publish","type":"post","link":"https:\/\/www.atidi.africa\/ja\/increased-demand-for-financing-africas-infrastructure-development-credited-for-insurers-112-growth-in-2012\/","title":{"rendered":"Increased Demand for Financing Africa\u2019s Infrastructure Development Credited for Insurer\u2019s 112% Growth in 2012"},"content":{"rendered":"

\"\"NAIROBI, 16 May 2012 –<\/strong>The African Trade Insurance Agency (ATI) released their 2011 results today revealing a five year growth trend. The company posted a 112% increase in their Gross Written Premium which rose to $10 million while their Gross Exposure increased by 55% to $593 million. ATI cites growing infrastructure development needs from countries within the region as a key factor contributing to increased demand for their products as companies and cautious investors seek cover to shield their business interests in Africa.<\/p>\n

For the year ending 31 December, 2011 ATI posted results that included an 88% increase in their main business lines of political risk insurance. The four year growth trend has seen premium income in this line of business grow from $1.5 million in 2008 to $8 million in 2011. The company\u2019s other main product, Credit Risk Insurance doubled over 2010 \u2013 in this product range, their cover to single buyers\/suppliers and lenders saw a particularly steep increase of 682% growth.<\/p>\n

\u201cWe owe these exceptional results first to our clients, whose loyalty we value tremendously. Second, to our member countries and organisations, who have entrusted us with their invested capital and confidence, and finally, the diligence of our Board and the hard work of our staff has contributed to our success,\u201d noted George Otieno, ATI\u2019s CEO.<\/p>\n

The CEO unveiled ATI\u2019s results during the company\u2019s 12th Annual General Assembly meeting (AGM) in which H.E. Kalonzo Musyoka, the Vice President of Kenya opened the session while the Honourable Moses Wetang\u2019ula, E.G.H., M.P., Minister for Trade of Kenya chaired the proceedings of the AGM. Some of the highlights from the meeting included the acceptance of membership applications from Southern Sudan and the African Development Bank, which marks the first in a series of steps towards full membership that both will need to fulfil.<\/p>\n

The delegates to the meeting included shareholders in ATI representing organisations and countries from Across Africa, Asia, Europe and North America. The Vice President of Southern Sudan, H.E. Dr. Riek Machar Teny-Dhurgon, who was the Special Guest, led the Southern Sudanese delegation in their bid to join ATI. In his keynote address, he spoke of membership in ATI as a way of attracting critical financing for infrastructure projects in Africa\u2019s newest country.<\/p>\n

In terms of impact, ATI, to date, has facilitated an impressive amount of trade and investments into their member countries \u2013 amounting to over $7 billion. Specifically the following countries have benefited from ATI<\/a>\u2019s presence:<\/p>\n