TDB Captive Insurance Company (TCI), the new subsidiary of The Eastern and Southern African Trade and Development Bank Group (TDB Group) on their recent launch in Mauritius.
The Eastern and Southern African Trade & Development Bank Group (TDB Group) formally launched TDB Captive Insurance Company in Ebene, Mauritius, in August 2022, following the inauguration of the group’s Mauritius principal office, on the sidelines of TDB Group’s 38th annual general meeting.
The launch gathered more than 250 participants, including TDB Group governors, directors and senior executives, senior-ranking officials and attendees from the Government of Mauritius and from the Mauritian business community, insurance companies and insurance brokers, among others.
TDB Captive Insurance Company is a TDB Group subsidiary which provides credit and political risk insurance and reinsurance cover for TDB Group subsidiaries, thereby creating greater efficiencies in the group’s risk management.
The management and day-to-day operations of TDB Captive Insurance Company is managed by the captive manager Rogers Capital, in collaboration with SWAN. The services include insurance management, administration and secretarial, enterprise risk management, accounting, financial and anti-money laundering and counter-terrorism financing reporting.
The captive manager is also entrusted with maintaining quality, security and compliance standards for client information privacy and data protection, ensuring confidential, accurate, cost-effective and timebound captive insurance solutions.
Admassu Tadesse, TDB Group president Emeritus and managing director, said: “TDB Group is thrilled to formally launch the TDB Captive Insurance Company – our own insurance and reinsurance provider for the group via which, by sourcing and co-providing in-house coverage solutions for our subsidiaries, we will be able to achieve greater risk management efficiencies. So far, we have onboarded over $200 million in policies and look forward to more, in view of anchoring our institution more solidly and be in a position to contribute to the sustainable development of the member states we serve on a triple bottom-line basis.”
Kabir Ruhee, chief executive officer of Rogers Capital, said: “We feel honoured and privileged to be associated with the TDB Group. Our collaboration has pioneered the structuring and implementation of the TDB Captive Insurance Company, TDB’s captive insurance subsidiary a pivotal component of the group’s risk management. Our solid partnership is a vibrant testimony to the breadth and depth of the value proposition of the Mauritius International Financial Centre (MIFC).
“Professionals of the MIFC, like ourselves, have demonstrated that we possess the right capabilities and savoir-faire to provide highly technical and expert captive services to sophisticated customers like TDB. As one of the leading players of the industry, we, at Rogers Capital, intend to do our share to further strengthen the MIFC’s international reach. We are resolutely convinced that Mauritius is exceptionally well positioned to become the prime investment gateway to and from Africa,” he added.
Mauritius is a modern captive jurisdiction with sophisticated legal framework through the Captive Insurance Act 2015 and has more than 30 years of experience in the captive insurance sector.
About TDB and TCI
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based, investment-grade development finance institution with 44 sovereign and institutional shareholders and assets of $8 billion.
TDB serves 23 economies in its region, with the mandate to finance and foster trade, regional economic integration and sustainable development. The TDB Captive Insurance Company is a part of the TDB Group, which also comprises Trade & Development Bank (TDB), the Trade and Development Fund (TDF), the Eastern and Southern African Trade Fund (ESATF) and the TDB Academy.
The TDB Captive Insurance Company provides risk insurance and reinsurance cover exclusively for TDB and TDB Group subsidiaries, thereby further creating efficiencies in the group’s risk management.
About Rogers Capital
At Rogers Capital, we are strategists, thinkers and innovators. We are team players. In other words, we help you beat the odds. We devise and implement ingenious solutions to help you navigate an evolving marketplace. We do not see problems, we only see opportunities. We leverage our deep industry insights in finance, our cutting-edge technology and our legacy as a leading corporate player to turn your enterprise into a powerhouse.