MONROVIA February 17 (LINA) – Liberia has been elected President of the West African Insurance Companies Association (WAICA) for a one-year term.

Liberia, represented by Mr. Momo Fortune, President of the Association of Insurers of Liberia (AIL), was elected at the WAICA annual meeting hosted by the Central Bank of Liberia (CBL) in Monrovia last year.
 
According to the Liberia News Agency, this was contained in the Annual Report of CBL covering January 1 to December 31, 2014.
 
The report indicated that CBL hosted a total of 36 participants to the annual general meeting and education conference of WAICA, noting that the purpose of the meeting was to engender the use of modern technology in the development of the insurance industries in WAICA member states.
 
The report noted the importance of West African insurance companies’ membership to the body and benefits such as insurance education and training.
 
The report indicated that the CBL also hosted the first meeting of the full technical committee of West African Insurance Sector Integration Council (WAISIC) in Monrovia from December 16 -17, 2013, which enabled the adoption of a charter of the WAISIC and the term of reference of the technical committee of the Council.
 
CBL report says the term of reference has as an objective of facilitating the integration of the insurance sector in West African Monetary Zone (WAMZ).
LINA