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COMPANY LIMITED
“Security, Growth and Stability”
COMPANY PROFILE
ABOUT US
• The Company’s authorized share capital currently stands at over US$ 5 million,
which is now fully paid.
• The Company actively manages capital to ensure risk capital adequacy at all times.
• The Company will from time to time ensure that the level of capital is adequate to
meet its obligations to all stakeholders.
• In line with its vision to become one of the biggest reinsurers in the region, the
company shall continue to be on the look out for opportunities to bolster its
shareholding structure and capital base.
TECHNICAL PARTNER
• FMRE PROPERTY & CASUALTY LIMITED
– Providing reinsurance technical support
– Assisting in skills transfer initiatives and external market linkages
“Security, Growth and Stability”
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PRODUCTS AND SERVICES
SHORT TERM
MARINE
FIRE & ENGINEERING CASUALTY
• Imports/ Exports (Road, Rail, Sea, Air)
• Fire Insurance • Public Liability
•
• Stock throughput
Business Interruption • Employers Liability
Policies
• Electronic Equipment • Products Liability & Defective
• Hull and Machinery and
• Machinery Breakdown & LOP Workmanship
Liabilities
• Contractors All Risks • General, Tenants & Property
• Freight Forwarders
• Erection All Risks Owners Liability
• Plant All Risks • Umbrella Liabilities AVIATION
FINANCIAL LINES • Hull and Liabilities
MOTOR • Directors & Officers • Ground Risks
• Motor Combined Liability • Airport Liabilities
• Motor fleet • Bonds & Guarantees • Small Crafts
• Pension Fund Trustees
Liability AGRICULTURE
• Bankers Blanket Bond • Aquaculture
• Professional Indemnity • Floriculture
• Horticulture
TRAVEL • Crop Insurance
• Business Travel • Livestock Insurance
• Leisure Travel • Hail & Field to Floor
• Pet Insurance
Cleopas Dlamini
Chairman
Rajab Kakusa is the CEO of TAN-RE and was actively involved in spearheading TAN-RE’s investment
into Ezulwni Reinsurance Company Limited.
He has over 23 years experience in insurance/reinsurance. He joined TAN-RE in 2004 as a Technical
Accountant and rose to the positions of Finance Manager in 2007 and subsequently Chief Executive
Officer. Prior to joining TAN-RE, Rajab worked for National Insurance Corporation of Tanzania Ltd from
1987 to 2004, where he worked in various positions including Assistant Underwriter (Marine and
Aviation), Internal Auditor and Senior Accountant heading Reinsurance Accounts Department.
Rajab holds a Master of Business Administration degree in Banking and Finance from Mzumbe
University, Tanzania and is a Certified Public Accountant (CPAT). He also holds a Post Graduate
Rajab Kakusa Diploma in Insurance and Risk Management from the Institute of Finance Management (IFM) Tanzania.
Director
In addition to the B.Com Degree, he holds a Master of Business Administration (MBA) which he completed
from the Smeal Business School of the Pennsylvania State University (USA) in 1995. He also completed the
Masotja B. Vilakati
Director Executive Development Programme (EDP) from the University of Stellenbosch (Cape Town) Business School
in 2013.
He has valuable experience after serving in various entities such as Treasurer of the SMVAF Ingwenyama
Cup since 2015; Chairperson of the Central Bank of Swaziland Staff Retirement Fund form 2010 to 2014,
Treasurer of the Premier League of Swaziland from 1998 to 2006, and Secretary of the Central Bank branch
of Swaziland Staff Association for Financial Institutions (SSAFI) from 1997 to 1999.
Ian joined FMRE in July 2003 as the Business Development Manager. He played an integral role in its
formation and was elevated to the position of Operations Executive in October 2003. Ian brought to FMRE
P&C vast experience gained after serving as Operations Manager for a Reinsurance company as well as a
Manager for operations department of a General Insurance company. He is the past President of the
Zimbabwe Association of Reinsurance Offices (ZARO), a member of the African Insurance Organisation
(AIO) board, an alumni member of the London School of Business and a board member of the
Organisation for Southern and East Africa Insurance board (OESAI).
He holds a Bachelor of Commerce Honours Degree in Insurance and Risk Management from National
University of Science and Technology (NUST Zimbabwe) and a Masters Degree in Business Administration
Ian Taonesa from the University of Zimbabwe. 12
Director
Mr. Zombodze Magagula was appointed a board Member of Ezulwini Reinsurance Company Limited in August
2017.
This comes after he took early retirement in 2013 as Chief Executive Officer (General Manager of Swaziland Royal
Insurance Corporation (SRIC) where he worked for twenty-six years in various roles, sixteen (16) years of which he
served as the CEO. He is currently practising law as a partner at Mlangeni & Company Attorneys in Manzini.
Mr Magagula was admitted as an Attorney-at-Law of the High Court of Swaziland in 1987 after completing a
Bachelor of Laws Degree (LLB) in 1984 at the University of Swaziland. His other qualifications include a Master of
Laws (LLM) specializing in Insurance Law from the University of South Africa; Masters in Sports Organization
Management (MEMOS) from Claude Barnard University of Lyon in France; Post-Graduate Diploma in International
Zombodze R. Magagula
Law and Organization for Development from the Institute of Social Studies (ISS) at the Hague, Netherlands.
Director
He brings along valuable corporate experience after serving in various national and international bodies such as
the President of the Swaziland Olympic and Commonwealth Games Association since 2000 to 2017, President of
the Confederation of Southern African National Olympic Committee 2005 to 2017, an Executive Board Member of
the Association of National Olympic Committees of Africa since 2005 to 2017, and a Member of the Legal
Commission of the Association of National Olympic Committees since 2012 to date. He is a member of the Board
of Directors of Royal Swazi Sugar Corporation, Member of the Council of the University of Swaziland, Chairman of
the University of Swaziland Pension Fund and Member of the Board of Directors of Momentum Insurance
Swaziland, among others.
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Management and the Technical Team
Charles Nyakabau is the General Manager of Ezulwini-Re.
Charles has had 27 years of progressive working experience in the Zimbabwean and regional insurance
and (predominantly) reinsurance business sectors. He possesses a broad and deep knowledge base of
the operational success factors attributable, acquired from when he operated as a reinsurance broking
treaties specialist, as well as a facultative placements facilitator.
He is endowed with a good social and economic grasp of the Southern Africa terrain, blended with
regional and international training and attachments' stints to as far afield as India and the UK. He also
spent some time working in the South African market (2001-2004) where he was involved in the
establishment and management of a reinsurance booking outfit under the Zimbabwe Reinsurance
(ZimRe) stable.
Charles Nyakabau Charles is a qualified AIISA insurance practitioner who holds a Bachelor of Science Honors degree in
charles@ezulwini-re.co.sz Economics acquired from the University of Zimbabwe (1988).
Muzi is our Non-life Underwriter, having joined the company in July 2016. He is responsible for both
facultative and treaty reinsurance business.
He has over six years experience in short term insurance and reinsurance. He was previously employed
with one of Swaziland’s leading short term insurers (under their claims department) where he was
handling claims across all classes of short term business. During his tenure with his previous employers
he was actively involved in reinsurance claims handling, negotiation and settlement, through which he
also acquired a significant understanding on general reinsurance practice.
Muzi holds a bachelor of Laws (LLB) from the University of Swaziland and an associate in the Insurance
Institute of South Africa (IISA). He is also an admitted Advocate of the High Court of Swaziland.
Muzi Shongwe
muzi@ezulwini-re.co.sz
Thobile brings over 14 years’ experience in the Long Term business industry having previously
worked for an established insurance company prior to joining Ezulwini Reinsurance Company
Limited. She has worked as a Loans Assessor, Credit Controller and Life Underwriter. She joined
Ezulwini Reinsurance Company Limited in July 2016 as a Life Underwriter.
Sakhile Zwane is the Claims Underwriter for Ezulwini Reinsurance Company Limited responsible for
claims management activities for both the Life and Non-Life reinsurance business.
Sakhile has eight (9) years’ experience in the insurance industry having previously worked for an
established insurance company prior to joining Ezulwini Reinsurance Company Limited in July 2016.
He is a holder of a Bachelor of Arts in Social Sciences Degree from the University of Swaziland and
he is also an associate of the Insurance Institute of South Africa (AIISA).
Sakhile Zwane
sakhile@ezulwini-re.co.sz
Mkhwanazi Attorneys
Company Secretary
7th Floor Mbandzeni House, Lot No.: 1/508 & 1/510 Smuts Street,
Mbabane, Swaziland
info@ezulwini-re.co.sz
www.ezulwini-re.co.sz
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7th Floor Mbandzeni House|Lot No: 1/508 & 1/510 Smuts Street|
Mbabane|Swaziland
“Security, Growth and Stability”
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