Central Departments

We are an International Reinsurance Company established in Island of Moheli, Comoros Union, with the Correspondence Office Sqaq Lourdes, Junction Business Centre, 1st Floor, SWQ 3334, Malta.

PRIME RE LTD has … Regional Offices in …………………

Our organizational structure includes the following Central Departments:

• Corporate Secretariat
• Department of Central Operations
• Department of Risk Management and Compliance
• Human Resources Department
• Department of Information and Communication Technology
• Internal Audit Department
• Finance and Accounting Department
• Department of Life Operations
• Department of Administration and General Services

The Corporate Secretary’s role includes several administrative and managerial duties, such as managing all statutory board meetings logistics, attending and recording minutes of the board meeting, facilitating the organization’s communication with its shareholders and the general public. Corporate Secretariat is also responsible for protocol and travel management, maintaining archives and documentation.

This key Department maintains close relations with shareholders and attends promptly to all their requests, while also acting as a focal point for communication between the company and the outside world.

• The Department of Central Operations manages activities relating to technical matters, underwriting issues, and management. The Department also helps to identify initiatives which can support a profitable growth of the company’s top line.The Department mainly focuses on underwriting performance and projections, potential areas of growth, technical provisions, technical inspection, and strategic initiatives.

• The Department of Risk Management and Compliance is responsible for the strategic management of the company’s risks exposures and for compliance with all applicable laws and regulations, global best practices and shareholder agreements.Our risk management activities are built around understanding risks, identifying any compliance violations, and taking preventive measures efficiently and effectively. Our goal is to reduce the impact of shocks that may negatively impact our ability to meet obligations to stakeholders.

• The Human Resources Department is the internal link between the staff and the company, working to ensure that the company’s business objectives are properly met.This Department’s core responsibility consists of attracting, developing and retaining professionals for the company’s production centers, subsidiaries and business units. In addition, other activities include updating policies, maintaining employee records, supporting workplace safety training, providing leadership training and professional development tools.The Human Resources Department handles all aspects and issues regarding human resource planning, people and policy compliance, compensation and benefits programs.

• The Department of Information and Communication Technology works on the continuous improvement and development of the technological tools and techniques the company uses, making sure they correspond to the business needs.The Department’s focus is mainly on innovation, process automation, virtual workplace, information security, and cost control.

• The Internal Audit Department is designed to evaluate and improve the effectiveness of risk management, control and governance processes. It promotes accountability and transparency by verifying the existence of assets, evaluating the adequacy of the internal controls system, assessing compliance with policies and procedure, as well as with laws and regulations.The Department communicates the audit findings and makes recommendations for proper safeguards to protect the company and support the achievement of the established objectives.

• The Finance and Accounting Department is responsible with keeping account of all transactions and preparing final accounts for management. Other activities include payroll, budgeting, taxation, financial planning, assisting the business in its day-to-day operations.

• The Department of Life Operations is in charge of providing reinsurance solutions for group life, group mortgage, credit life, critical illness and individual life products.The Department is involved in the development of new insurance products through its team of dedicated and highly-trained professionals.

• The Department of Administration and General Services provides operational and administrative support to the company, overlooking procurement, property management, maintenance and other general administrative services.