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ATI announces record volumes of transactions and profits despite global financial downturn, during its 9th Annual General Meeting
NAIROBI, 19 May, 2009 - The African Trade Insurance Agency (ATI), Africa's only political and credit risk insurer announced record-breaking results during the opening ceremony of its Annual General Meeting at the Inter-Continental Hotel. The Agency's Chief Executive Officer, Peter Jones announced that ATI had supported a record level of trade and investments worth almost half a billion dollars, of which US$95 million was in support of exports by its African Member States. In addition, the Agency arranged cover for single risk sabotage and terrorism cover worth US$363 million. Overall, the Agency increased its Gross Written Premium by 80% over the previous year to US$1.9 million and increased by 217% its net underwriting income to over US$819,000. In addition, ATI also posted record profits of over US$265,000, more than double its 2007 earnings.
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Resignation of ATI's Chief Executive on personal grounds
NAIROBI, 23 June, 2009 - The Board of Directors of the African Trade Insurance Agency formally accepted the resignation of the Agency's Chief Executive Officer, Mr. Peter Jones on personal grounds relating to his family, effective 31st July, 2009. The ATI Board of Directors assigned Mr. Stewart Kinloch, the Chief Underwriting Officer to the role of Acting CEO upon the departure of Mr. Jones. Mr. Kinloch has nearly three decades of international banking and credit insurance experience with such notable institutions as the Royal Bank of Scotland, QBE, where he was the Deputy Head of Trade Credit and Surety for Europe, and with Atradius as the Regional Director for Underwriting.Read more...
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