New insurance firm opens
Publish Date: May 10, 2009
Newvision Archive
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By Ibrahim Kasita

THE African Trade Insurance Agency (ATI) has opened its offices in Uganda, promising to offer flexible insurance cover.
Peter Jones, the managing director, said the agency would offer insurance cover to exporters, schools, hotels, telecoms, projects and agro-business.

“There is significant demand here. We have received enquiries worth $1.7b.

“Last year, we developed new projects estimated at $250m,” Jones said at the opening of the agency’s country office in Kampala last week.

He said they were expecting the demand for their products to grow because of the global credit crunch.

Jones said ATI would provide insurance against everything “from insuring exports against buyer non-payment to protecting investments against currency exchange risks.”

Headquartered in Nairobi, Kenya, the agency was founded in 2001 by African states with the financial and technical support of the World Bank.

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