The survival of an insurance company in a vibrant and risky market depends on its capacity to retain its business, and more so, on its reinsurance support to be able to absorb whatever capacity comes its way.
As a result of this, Phoenix Insurance Company has prudently engaged the services of a seasoned insurance broker, who designs and places Treaty and Facultative reinsurance in international and domestic markets, covering all classes of insurance business, including specialized areas such as construction, energy, and aviation.
The Company utilizes these reinsurance arrangements to enhance its capacity and financial security to underwrite major risks. Some of Phoenix Insurance’s major international reinsurers are:
- Africa Re
- WAICA Re
- Continental Re
These international reinsurers are endowed with vast financial resources, as well as the underwriting capacity to handle virtually any scope and scale of business.
Locally, Phoenix Insurance Company has Ghana Re as its main reinsurance company. This is a reinsurer that is financially and technically sound, and able to compete in the reinsurance market, both locally and internationally.