FMRE Property and Casualty Botswana (FMRE) on Wednesday gave a lecture at the University of Botswana on Reinsurance, at the invitation of the University’s Faculty of Business.
The lecture was expected to enlighten the final year Finance and Accounting students on the practice of reinsurance in Botswana and globally.
The FMRE UB lecture according to FMRE officials, sought to provide an overview on how reinsurance should be evaluated and the factors that influence the purchase of Reinsurance.
It will cover topics such as the Origins of Reinsurance and its Functions.
Some focus will be given as an overview of global reinsurance and relevance in the Botswana economy.
“The concept of Reinsurance is relatively new in Botswana to the public, even though the practice is not new in the country. It is on this basis that FMRE realises the importance of sensitizing students on the practice of Reinsurance. We want them to be able to consider careers and opportunities in Reinsurance and Insurance for the development of the economy and the industry at large,” says General Manager for FMRE P&C Botswana Samuel Rimai.
Rimai highlighted that currently, the industry was manned by expatriates.
He added that in line with the National Human Resources Development goals, FMRE wanted to capacitate citizens in the industry which in turn will create employment and promote the growth of the industry.
“Insurance and Reinsurance are two material pillars of any vibrant economy, and the growth of this industry depends on the availability of trained personnel. In order to enhance the industry penetration levels, we have to create awareness and promote interest in the subject of reinsurance in secondary schools and tertiary institutions which is part of our objective of being at the University of Botswana today,” concluded Rimai.