ETHIO-RE AND OMAN RE SIGN A MEMORANDUM OF UNDERSTANDING (MOU)
January 25, Oman , Muscat – On Monday 25th of January 2021 Ethio-Re and Oman Re met to sign a MoU.
The agreement was signed in the presence of – Dr. Juma Bin Ali Al Juma , Board Chairman of Oman Re and Ethiopian Reinsurance Company, represented by it’s Chairman - Mr. Hailemariam Assefa Yeshitila at the ceremonial event in Muscat.
The acting Chief Executive Officer in charge of Ethio-Re , Mr. Fikru Tsegaye and all Board members of Ethio-Re, gathered in Oman Re’s offices for this important moment.
This MoU, defines the frame for future cooperation between Ethio-Re and Oman Re.
“We are very pleased to see this MoU in place as it paves the way for great synergy between our two entities, in solidifying the business relationships in many fronts including human resources capacity development, business reciprocity and jointly working to foster the business of insurance and reinsurance through an effective partnership”, said Mr Fikru Tsegaye.
“This agreement will allow both organizations to contribute to improved coordination and also to ensure timely exchange of business and strategic partnership data to the benefit of both,” explained Mr Mr. Hailemariam Assefa Yeshitila , during the ceremony.
Oman Re is the first reinsurance company to be established in Oman with the purpose of writing Facultative and Treaty business from local and international markets.
Oman Re’s current territorial scope includes all Afro-Asian countries, CEE and CIS markets and it writes marine and non-marine lines of business. Oman Re’s leadership team welcomed the 10-member Ethio Re delegation comprising of their Board of Directors and Acting CEO.