Globe Reinsurance Plc was incorporated in Nigeria as a private limited liability company on 15th May, 1987 and commenced business as Non-Life risks reinsurers on January 1, 1988. The company became a full fledged composite reinsurance company when it obtained license to underwrite life risks in December, 1989. The company was operating under the name Globe Reinsurance Company Limited until it converted to a public company on May 10th 1998.
Globe Re has a global outreach and enjoys wide acceptance in the country as well as various African Countries. The company’s goodwill is built on excellent service delivery, high ethical standards, social responsibility, professionalism, integrity and superior returns to stakeholders.
Over the years, the company has been retained as professional reinsurers by as many as 100 insurance companies operating in the country and close to 60 insurance companies from Anglophone and Francophone West and Central African countries, East Africa, North Africa as well as Southern Africa. Our strong reinsurance covers have been of great benefits to the numerous ceding companies that have treaty and facultative programmes with us. The risk analysis and monitoring unit of the company has also been of particular assistance to our cedants in improving their underwriting process.
Business Associates
In the technical line, we partner with a number of firms providing supportive services including brokers of international repute such as:
J. B. Boda (Reinsurance Brokers)
United African Insurance Brokers
Glanvill Enthoven Reinsurance Brokers
CK Re Ltd.
Competent Reinsurance Brokers
H. Clarkson Edu and Partners
T. A. Braithwaite and Co.
Munich Re of Africa leads our retrocession programme.
Financial Services
With the increasing Shareholders’ fund and Reinsurance fund, the company has become a big player in the nation’s investment environment. Over time, we have developed the skill of an astute and prudent institutional investor. We have stake in many high yield and safe financial instruments with which we are growing reserves and shareholders value towards a strong capital base.
Our investment portfolio is being diversified to include in the first instance, short-term foreign investment schemes under a programme of foreign exchange earnings maximization.
HUMAN RESOURCE
In providing its widely acknowledged high quality services, the company deploys a crop of well-motivated professional executives. Our conditions of service have attracted and retained some of the best hands in the industry while we continue to invest in human capital development as part of our strategic plan to remain in leadership position.
INFORMATION TECHNOLOGY
In line with the Company’s drive to provide prompt and efficient services to our numerous cedants locally and internationally, huge investment has been committed to modern-day information technology designed and operated by a team of highly efficient I.T. career personnel
