About us

Board of directors

The Board of Directors is currently chaired by Mr. Bakary KAMARA and comprises 9 substantive members. Directors are elected for a term of three years and may be re-elected at the expiration of the term. They shall continue in office until their successors are elected. The current members of the Board of Directors are detailed below
  • Bakary Kamara

    Independent Non-executive Chairman

  • Corneille Karekezi

    Non-executive Deputy Chairman

  • Frederic Flejou

    Independent Non-Executive Director

  • Elizabeth Amadiume

    Independent Non-executive Director

  • Phillip Pettersen

    Independent non-executive Director

  • Haile Kumsa

    Independent non-executive Director

  • Sizakele Mzimela

    Independent non-executive Director

  • Andy Tennick

    Managing Director, African Reinsurance Corporation South Africa (ARCSA) subsidiary

  • Sory Diomande

    Deputy Managing Director

  • Ibrahim Ibisomi

    Executive Director - Finance & Administration

Mr Bakary Kamara has served as Chairman of African Reinsurance Corporation South Africa Ltd since July 2004, after joining the company as Secretary General of the Group from September 1984 and being appointed Group Managing Director/Chief Executive Officer in July 1993. He has also been Chairman of Africa Retakaful (Egypt) since April 2009.

Kamara is an Administrateur Civil (the highest category in the French speaking civil service).

He began his career in the insurance industry as a Legal Adviser for SMAR - Mauritania’s State insurance company - from 1 May to 11 November 1978. He occupied the role of Deputy Managing Director from September 1979 to January 1984, while also serving as visiting professor in third-year Business Law at the National School of Public Administration (E.N.A.) during the 1978-1979 academic year. From 1980 to 1984 he occupied the role of Director at AFARCO, a Mauritanian real estate company.

Kamara served as Technical Adviser to the Minister of Finance & Trade (in charge of insurance matters and International Trade Relations) from January to August 1984.

He is currently the Executive Chairman of Gras Savoye Mauritania and an International

Consultant in Management, Governance and Coaching.

Kamara serves as Independent Director in several insurance and reinsurance

companies and banks, and has been a member of various boards, councils and professional

bodies. He speaks French, English, Soninke, Pular, Wolof, Hassaniya and Spanish.

Mr Kamara holds a Bachelor's Degree in General Law and Faculty of Law (Dakar), a Master's Degree in Civil Law - Business Law (Dakar), a Diploma of the Insurance Institute of Tours (France) and Diploma of High Studies (D.E.S.S) in Insurance Law (France). 

Mr Corneille Karekezi was appointed to this position on 1July 2011 after a transition period of 2 years.

After serving on the Board of Africa Re from 2003 to 2005, he later joined Africa Re in July 2009 initially as the Deputy Managing Director and subsequently as Deputy Managing Director / Chief Operating Officer in 2010.

His professional career started in 1991 as Chief Accountant /Reinsurance Manager of the leading insurance company in Burundi (SOCABU s.m.), where he rose to the position of Head of the Finance Department. In 1995 he joined the leading insurance company in Rwanda (SONARWA s.a.) as Deputy Head of the Commercial & Technical Department. Since 1996, he successively headed all the Technical Departments (Motor, Fire, Accidents & Miscellaneous Risks, and Life) and was appointed Deputy Managing Director early in 2001. In February 2008, after conducting a successful strategic transformation from a state-controlled company to a private company with an equity strategic partnership, he was appointed Chief Executive Officer of SONARWA s.a.

Mr Karekezi holds a Bachelor’s Degree in Economics (Burundi), a Master’s Degree in Management (Burundi) and a Master’s in Business Administration (UK). He speaks English, French and Swahili fluently and has contributed significantly to the development of the industry in Africa.

He currently sits on several Boards of continental companies and institutions. He is the current Vice Chairman of Africa Re South Africa Ltd. (SA) and Africa Retakaful Corporation (Egypt), Member of the Board of Shelter Afrique, the leading pan-African housing finance company, and Member of the Executive Committee of the African Insurance Organization (AIO).

Independent Non-Executive Director

Mr Flejou is currently the Chief Executive Officer, in charge of New Markets Development, AXA Mediterranean & Latin American Region. He attended École Centrale de Paris, Institut des Actuaires Français and DESCF graduating as Engineer, Actuary and Accountant respectively.

Ms Elizabeth Amadiume has spent most of her 35 years in the industry as a professional reinsurer. Currently a Non-executive Director at African Reinsurance Corporation South Africa Ltd, she has worked for the greater part of her career in different Regional Offices of the Corporation, holding key positions including: Local Representative of the Africa Re contact office in Johannesburg, South Africa before its conversion to a Subsidiary Office (1999-2000), Regional Director at the Mauritius Regional Office in charge of Asia & Indian Ocean Islands (2004-2010), Director of Central Operations and Special Risks at the head office in Lagos, Nigeria (2010-2012) and Reinsurance Management Consultant to the Group (2012-2014). She joined IRB Brasil Re in the capacity of Management Consultant for African Business (2014-2015), after retiring from Africa Re.

Amadiume served as President of the Insurance Institute of Mauritius from April 2006 to March 2009. She was a member of the Mauritius Financial Services Consultative Council Technical Committee for Insurance (2007-2008), the General Insurance Technical Committee in Kenya (2004) and the Joint Insurance Industry Risk Evaluation Committee in Kenya (2004).

She was a visiting lecturer at Kenya’s College of Insurance for several years until 2004.

Amadiume holds a Master’s Degree in French and a Diploma of the Fellow of the Chartered Insurance Institute (FCII) in the UK. She also holds a Chartered Insurer title and is an alumnus of the Harvard Management and Leadership Online Programme.

She is widely travelled, has made several presentations on topical issues in the reinsurance sector and has attended numerous conferences and seminars on management and reinsurance.

Amadiume has contributed to the development of expertise in Africa through participation as a resource person in various training programmes. She continues to contribute to the development of the industry in Africa by providing training, engaging in consultancy and sitting on the boards of several companies.

Mr Phillip Pettersen has served on the Board at Africa Reinsurance Corporation South Africa Ltd since July 2012, and has been Chairman of the Risk and Underwriting Committee, and a member of the Audit Committee and the Social and Ethics Committee.

He has been in the financial services industry for 43 years, and spent 1972 to 1986 gaining experience in broking and underwriting. From 1986 to 2000 he served as Director of various Alexander Forbes Operating Companies. He was also Managing Director for Forbes Reinsurance Broking Services, Managing Director for Nelson Hurst Reinsurance and Head of New Solutions at Partner Re (Zurich).

From 2000 to 2008 he was based in Switzerland as Head of New Solutions for Partner Re (Bermuda), the sixth largest reinsurance company at the time. Two years later, he returned to the broking profession as MD of the ART division with EW Blanch (UK). The Benfield Group (now AON) soon after bought the company and he was transferred to the ReMetrics team, where he served for six years before occupying the role of Managing Director at Towers Perrin Re Bermuda. While in Bermuda, he was successful in establishing the reinsurance office for the Towers Perrin Group, and substantially growing revenue.

Pettersen’s career as a professional Non-executive Director began in 2008 at Flagstone Re SA, previously known as Imperial Re. His portfolio included Chair of the Audit committee and serving on the Risk Committee. Thereafter, he joined the Board at Telesure Investments Holding.

In early 2012, Flagstone Group in Bermuda decided to exit from South Africa. Pettersen was instrumental in selling the portfolio to RMB in July 2013 and it was successfully deregistered and shut down. At the time of the sale he was serving as Chairman of the Board.

He currently serves as a Non-executive Director on six insurance licensed and regulated entities in South Africa and on FSC-regulated Assurance entity International Assurance Limited PCC (IAL) in Mauritius. He is on the Telesure Investment Holdings Board and is Chair of Lakeland Homes Share Block Limited. His other commitments include that of Executive Consultant to NMG Benefits on the restructuring of their short-term broking operation and Africa Health & Accident Insurance initiatives (2010-present) and Lockton Group local representative firstEquity Risk Management Services Ltd as specialist Executive New Business consultant advising them on the technical structuring of large/global corporate clients.

Pettersen is a Fellow of the Chartered Insurance Institute (UK), a Fellow of the Insurance Institute of South Africa, Chartered Risk Manager.

He is a recipient of the CII International Boleslaw Monic Reinsurance Prize for the Most Meritorious Paper in the 1990 Fellowship Examination (IISA) and the Most Meritorious Paper in the 1992 Fellowship Examination (IISA).

Pettersen was elected as a Fellow of the South African Risk Management Society, an Associate of the Institute of Risk Management and a Fellow of the Institute of Directors - UK and South Africa. He served as the Chair of the Society of Fellows in South Africa and the UK and as a member of the Transvaal Insurance Institute (now known as the Gauteng Institute). He was also a part time lecturer to Wits Risk Management students, covering Reinsurance.

Mr Kumsa has occupied the roles of: Accountant/Chief Accountant of the ex-Union Insurance Company of Ethiopia (1970-1976), Chief Accountant/Head of Internal Audit & Inspection/Financial Manager/Deputy General Manager/General Manager of the Ethiopian Insurance Corporation (1976-1992), Managing Director/CEO of the Ethiopian Insurance Corporation (July 1991 - December 1992 and April 1995 - July 1999) and Deputy Branch Manager at the Arab Insurance Group - Tunis Branch (December 1992 - November 1994).

He occupied the role of Deputy Managing Director (Operations) at the African Reinsurance Corporation Ltd from August 1999 to July 2010.

Kumsa established Berhan Insurance S.C, trained a number of staff and opened eight branches in Addis Ababa and Hawasa. He occupied the role of Managing Director from December 2010 to July 2014.

He has served as Project Manager of the Ethiopian Reinsurance Share Company since July 2016.

He was a part-time lecturer at the Banking and Insurance Institute of Ethiopia from 1984 to 1987.

Kumsa’s Thesis for his MBA Degree won an award in 1989, from the Federation of Afro-Asian Insurers and Reinsurers (FAIR), as one of the best research papers written in the field of insurance. He has participated in several seminars and given presentations at various conferences.

He holds a Master of Business Administration (Scotland), a Bachelor of Business Administration (Ethiopia) and a Diploma in Commerce (Ethiopia). He has also received extensive re-insurance and insurance training. He was connected to the ex-Commercial Union and Scottish Equitable Life Assurance Society of the United Kingdom in 1981 and 1989.

Kumsa has participated in 10 boards and regional associations, three of which he is still a member. He serves as Chairman of the Board for the Ethiopian Reinsurance Share Company and Member of the Board and Chairman of Addis Village Real Estate SC. At Africa Re, he serves as Member of the Board, Audit Committee, Risk and Underwriting Committee and Human Resource and Administration Committee.

Mrs Sizakele Mzimela has served as an Independent Non-executive Director for African Reinsurance Corporation South Africa since June 2013, also serving as Chairperson of the Social and Ethics Committee and a member of the Audit Committee.

She currently chairs the board of JSE-listed company Cargo Carriers and also serves on the board of Bryte Insurance amongst others. Her past directorships include being a non-executive director at SA Tourism.

Mzimela has held various pioneering roles within the aviation industry. This includes being the first black woman to start an airline and the first female appointed to the board of the International Air Transport Association (IATA) in 67 years.

She is the founder of Fly Blue Crane and is the executive chairperson of Blue Crane Aviation. She previously served as the Chief Executive Officer of both South African Airways and SA Express Airways.

Under Mzimela’s leadership, SAA achieved a first in the history of the airline: introducing direct services to New York and Beijing. Her other notable achievements include serving as President of the African Airlines Association (2012), receiving the Individual Achievement Award for Outstanding Leadership and Service to the Aviation Industry from the African Airlines Association (2008), being a finalist in the Nedbank Business Women of the Year Award (2002) and being recognised in the international publication ‘The 100 Greatest Women in Aviation’.

She is a member of ARC, NC and REMCO, and holds a Bachelor of Arts degree in Economics and Statistics, a Management Certificate from Henley College and completed the GIBS Executive Management program.

After graduating from university in 1986, Mr Tennick joined Swiss Re in Johannesburg as a graduate trainee. During a 14-year career he worked in various capacities culminating in management of the underwriting and subsequently the client management functions. 

He then joined the Imperial Holdings Group in Johannesburg and set up Imperial Reinsurance before moving to the Group’s insurance business, Regent Insurance, as an executive director with various responsibilities including underwriting, reinsurance and risk management. He was joint CEO of the Regent Insurance Group at the time he left the Group.

Mr Tennick holds a Bachelor of Commerce Degree from the University of Cape Town and is an Associate (ACII) and Fellow (FCII) of the Chartered Insurance Institute (UK).
He became Managing Director of African Reinsurance Corporation South Africa in April 2018.

Mr Sory Diomande has occupied the role of Deputy Managing Director/Chief Technical Operations Officer since July 2017. He joined the Group as Regional Director: West Africa in June 2012.

His career spans more than 17 years, during which he occupied the following positions: Managing Director of Colina Re (Morocco/Togo), Insurance and Financial Risks Analyst of Willis Re (Singapore/London), Senior Manager of Allianz SE. (Singapore), Property & Casualty Treaty and Facultative Underwriter of Swiss Re (Singapore, France and South Africa), Life Actuary at Allianz/AGF (Côte d’Ivoire) and Graduate Intern at AXA (Côte de d’Ivoire).

He was a casual lecturer for Mathematics of Finance at INPHB in Côte d’Ivoire in 2001 and 2002.

Diomande’s other achievements include Renewal Support in Singapore and Malaysia from May to June 2007. He has also been a speaker at the Singapore Insurance Institute Panel ‘A focus on specialty Liability & Casualty’ (October 2008), at various seminars and conferences in West Africa and Treaty Underwriting seminars for Swiss Re Africa Clients.

He was also a WAICA Reinsurance Corporation Executive Committee member until the end of the first quarter in 2017.

He has been an Honorary Citizen of Muncie, Indiana in the USA since 2000.

Diomande holds an Actuarial Sciences Degree, a Global Executive MBA from IE Business School in Madrid and a University Diploma in Logistics. He also studied Non-Life Actuarial Modelling and participated in an Exchange Program on American Business Practices at Ball State University. He is fluent in English and French.

Mr Ibrahim Ibisomi is an Executive Director at African Reinsurance Corporation Ltd and occupies the role of General Manager: Finance & Admin. Since joining the corporation in 2000, he has been engaged in managing the financial reporting, budgetary control, investment and administrative functions of the Nairobi Regional Office, and later of Africa Re South Africa where his responsibility extends to overseeing the Risk Management, ICT, Credit Control and Human Resources Management functions. He serves as the Company Secretary and coordinates the company’s preparations for the new regulatory framework in South Africa.

He is a multi-disciplinary professional with academic and professional qualifications spanning the fields of Economics, Banking and Finance, Law, Accountancy, Taxation, Risk Management and General Management. He is currently engaged in Leadership Studies and has many publications and presentations to his credit.

Ibisomi started his career in a global professional accounting firm with training and job exposure in many business areas - including accounting and audit, taxation, and management consulting - across several countries. He then moved on to a start-up commercial bank where for three years he headed the planning, finance control and credit administration functions. For another three years he operated a co-owned financial consulting, training and professional services firm before proceeding to head up the inventory accounting, costing and management reporting functions of a multinational oil-marketing firm.

Ibisomi has proven leadership, people management and negotiation skills gained from a diverse set of responsibilities spanning 30 years in five African countries (Nigeria, Ghana, Cameroon, Kenya and South Africa), five companies (including three multinational/international organisations) and four industries (professional services, banking, petroleum marketing and reinsurance). He sits on a number of boards and board committees.