FBS Reinsurance Limited (FBS Re) was incorporated as a Private Limited Liability Company under Nigerian Corporate Law on 1st August, 2016 with an Authorised Share Capital of N12,000,000,000.00 made up of 12,000,000,000 Ordinary Shares of N1.00 each fully Paid-Up with an immediate plan to increase the authorised and paid-up to N20,000,000,000.00 in line with the Nigerian National Insurance Commission’s (NAICOM’s) new recapitalisation thresholds. The Company has its registered head office situated at Central Business District in Abuja and intend to locate control operational centres in Lagos and Accra, the commercial hub of Nigeria and Ghana respectively. The main purpose for FBS RE is to increase reinsurance capacity availability to the ceding companies, thereby enhancing insurance market penetration. The Company will deploy advanced technology in providing reinsurance services with a view to support innovation, creativity in product development and marketing. The Company has aspirations to expand to other African markets in the medium term and play on a global market platform in the long run. The Company’s primary corporate objectives include: 1. To be a leader in innovation and creativity, while providing high quality reinsurance support services to insured companies. 2. To become an active industry player in the African insurance industry within a few years of operations. 3. To provide comprehensive technology driven reinsurance and risk management services through the use of cross industry professionals. 4. To gain the reputation of a reinsurance company built on innovation, technology and creativity. 5. To strive to build a brand around our name as better services alternative to all our insured companies. 6. To create a culture of integrity, good governance and sustainability.