Monday, September 8, 2025
27.6 C
Lagos

African Trade Insurance Plans $2.5m Dividend Payment to Shareholders

In a much anticipated announcement, the African Trade Insurance Agency (ATI) declared that its General Assembly had approved the first ever payments to shareholders. The announcement comes on the heels of ATI’s Annual General Meeting held in Abidjan, where the company also announced its record-breaking 2017 financial results for the sixth consecutive year.

ATI has earmarked an initial USD2.5 million in payments to its shareholders which include 14 African member governments.

The company’s CEO, George Otieno noted: “We have been planning for this moment for several years and I am happy to finally announce that we are ready to give something back to our shareholders. This signals our intention to continue showing value to our member governments and shareholders, while providing non-member countries and institutional investors an incentive to join.”

In 2017, ATI recorded gross exposures of USD2.4 billion and, in the same period, the company covered investment and trade activities across the continent valued at USD10 billion. ATI also posted a USD10 million profit representing a 55% increase over 2016.

ATI owes its strong results in part to growing demand from investors and African governments for their products as the continent continues to position itself as an attractive destination for investors. Africa’s drive to increase trade within its borders is also fuelling ATI’s success.

The African multilateral insurer also announced the Government of India’s USD10 million shareholding which will be represented by ECGC, India’s export credit agency.

ATI’s KEY 2017 RESULTS

  • Volume of Business Supported Since Inception: USD35 billion (+40%)
  • Combined Ratio: 62% (+11pps on a comparable basis)
  • Insured Trade & Investments (Gross Exposures): USD2.4 billion (+23%)
  • Return on Capital: 4.6% (+1.5pps on a comparable basis)
  • Gross Written Premiums: USD44.8 million (+52%)
  • Shareholders’ Equity: USD242.2 million (+16%)
  • Net Earned Premium s: USD14.0 million (+9%)
  • Rating (S&P): *A/stable
  • Profit: USD9.9 million (+55% on a comparable basis)

 About The African Trade Insurance Agency

ATI was founded in 2001 by African States to cover the trade and investment risks of companies doing business in Africa. ATI provides Political Risk, Surety Bonds, Trade Credit Insurance and Political Violence and Terrorism & Sabotage cover. As of 2016, ATI has supported USD35 billion in trade and investments across Africa in sectors such as agribusiness, energy, exports, housing, infrastructure manufacturing, mining and telecommunications. Since 2008, ATI has maintained an ‘A/stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s.

spot_img
spot_img

Hot this week

Nigeria, Brazil Central Banks Deepen Economic, Financial Co-operation

Nigeria’s Central Bank Governor, Olayemi Cardoso, has held talks...

Ecobank Nigeria to Host Second Edition of Design & Build, Showcasing Premier Innovators in Design, Construction

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

Expert: Fintech, Financial Inclusion Critical for Sustainable Growth of Nigerian Economy

A renowned economist, Dr. Biodun Adedipe, the Chief Consultant/CEO,...

Sterling Bank Marks One Year of Africa’s Groundbreaking Core Banking System

Number one Best Workplace in Banking in Nigeria and...

Topics

North, South East Ranks Low in Protein Consumption by 45%

The North and South East regions of the country...

Crown Flour Mill’s ‘Seeds for the Future’ Programme Achieves 1st-Year Target

Crown Flour Mill (CFM) Limited, the wheat milling subsidiary...

Ecobank Partners IITA to Train, Support 16,000 Youths on Wealth Creation via Agric

  Ecobank Nigeria Limited said it is partnering with the...

Yeye Adesola Mutiat Odeyeyiwa Strikes 50-Carat Gold

By Goke Ilesanmi The date, June 25 is a symbolically...

INEC Commends Anambra Voters for Success of Nov 6 Governorship Election

Professor Mahmood Yakubu, Chairman, Independent Electoral Commission (INEC) has...

Banks’ Advert Spend Rose by N132.4m in Sept 2019

P+ Measurement Services, a media intelligence and audit agency...

Govt, Telecoms Top Targeted Sectors for Cyber Attacks

In East Africa, governments are the top target sector...

NEXIM, Made-in-Nigeria Project Partner on Economic Growth

The Nigerian Export-Import Bank (NEXIM) recently hosted a delegation...
spot_img

Related Articles

Popular Categories

spot_imgspot_img