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Reinsurer looks to new markets amid challenges

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Abiola Ekundayo, managing director of Sierra Leone-based Waica Reinsurance Corp. P.L.C., said that local government policies and currency devaluations have hampered the reinsurer's operations in the West Africa region, Punch reported. Mr. Ekundayo said that the reinsurer is looking to expand its operations in several African countries such as Kenya, Tunisia and Zimbabwe. The reinsurer's premiums totaled $62.5 million while profit amounted to $7 million in 2017, he added.

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