AIG pledges more investments
Apr 18, 2006
The new AIG Africa President & CEO Joost Vink (right), has promised to continue investing in the East Africa region as well as assess the Great Lakes region as the next potential market for the American financial services giant expansion ambitions.
By Emmy Olaki
The new AIG Africa President & CEO Joost Vink (right), has promised to continue investing in the East Africa region as well as assess the Great Lakes region as the next potential market for the American financial services giant expansion ambitions.
Speaking during a visit to Uganda last week, Vink also promised that AIG would intensify its focus on insurance products that are accessible to majority of people, while strengthening the company’s corporate portfolio, AIG’s mainstay internationally.
He cited AIG pioneering of micro-finance products in Uganda, which have proliferated to other providers.
“The Uganda model is something that AIG takes great pride in.
“We are already replicating this in other African countries like Malawi, Kenya, Zambia and Tanzania,†Vink said.
“The success achieved by AIG Uganda in providing insurance products to low-income and disadvantaged groups has received wide acknowledgment by international organisations and universities,†he said.
Vink said there was need for the industry to educate the population about insurance in order to increase penetration.
“Insurance companies must individually and collectively create awareness so that more people can understand the benefits of insurance,†Vink said.
Vink joined AIG South Africa as managing director in March 2005, and took over as President in December 2005.
Vink has been in the insurance industry for 21 years.
Over 16 years of these have been with AIG in Netherlands and the Philippines.
AIG Uganda managing director, Alex Wanjohi, and the outgoing Africa region president, Robert Gordon. attended the Kampala occasion.
Gordon has taken a new role as AIG vice-president for strategic initiatives.
Wanjohi said AIG Uganda is the market not only leader in terms of premium turnover, which stood at sh20b in 2005, but also in efficiency in claims settlement, underwriting service and product innovation.
Ends
The new AIG Africa President & CEO Joost Vink (right), has promised to continue investing in the East Africa region as well as assess the Great Lakes region as the next potential market for the American financial services giant expansion ambitions.
Speaking during a visit to Uganda last week, Vink also promised that AIG would intensify its focus on insurance products that are accessible to majority of people, while strengthening the company’s corporate portfolio, AIG’s mainstay internationally.
He cited AIG pioneering of micro-finance products in Uganda, which have proliferated to other providers.
“The Uganda model is something that AIG takes great pride in.
“We are already replicating this in other African countries like Malawi, Kenya, Zambia and Tanzania,†Vink said.
“The success achieved by AIG Uganda in providing insurance products to low-income and disadvantaged groups has received wide acknowledgment by international organisations and universities,†he said.
Vink said there was need for the industry to educate the population about insurance in order to increase penetration.
“Insurance companies must individually and collectively create awareness so that more people can understand the benefits of insurance,†Vink said.
Vink joined AIG South Africa as managing director in March 2005, and took over as President in December 2005.
Vink has been in the insurance industry for 21 years.
Over 16 years of these have been with AIG in Netherlands and the Philippines.
AIG Uganda managing director, Alex Wanjohi, and the outgoing Africa region president, Robert Gordon. attended the Kampala occasion.
Gordon has taken a new role as AIG vice-president for strategic initiatives.
Wanjohi said AIG Uganda is the market not only leader in terms of premium turnover, which stood at sh20b in 2005, but also in efficiency in claims settlement, underwriting service and product innovation.
Ends