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KENYA : ABC Insurance becomes part of ATI s insurance brokers panel.

ABC Insurance Brokers Ltd., an associate of ABC Bank Group of companies, received approval from African Trade Insurance Agency (ATI), to become part of ATI s panel of insurance brokers.

According to Shamaz Savani, Managing Director of ABC Bank Group, the partnership will allow both customers and non-customers of ABC Bank to access unique products offered by the continent s only multilateral insurer. ATI covers risks, which are not usually covered by other insurers.

Savani said, "This partnership means we are safeguarding the interests of our customers even outside East Africa since ATI covers cross-border risks in line with our objective of facilitating international trade as ABC Bank Group."

ATI, which is the only multilateral insurer in Africa, offers insurance cover against political risks including currency inconvertibility, expropriation, war and civil disturbance, terrorism and sabotage with forced abandonment. It also supports trade and investment in Africa by decreasing the cost of doing business by assisting investors to mitigate against export/trade credit risk. This covers insurance against potential payment failure because of bankruptcy, deteriorating financial circumstances or if a payment extends beyond a credit period (protracted default).

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Publication:Mena Report
Date:Jan 20, 2012
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