About us

Board of Directors

The Board of Directors is currently chaired by Dr. Mohamed Ahmed MAAIT and comprises 14 substantive members. Directors are elected by the General Assembly for a period of three years and may be reelected at the expiration of the term. They shall continue in office until their successors are elected. The table below contains the current members of the Board of Directors of the Corporation as well as the constituencies/group of shareholders which they represent.
  • Mohamed Ahmed MAAIT

    Board Chairman

    Constituency: Egypt (State and Companies)

  • Belay TULU

    Director

    Constituency: East and Southern Africa and Sudan

  • Faouzia ZAABOUL

    Director

    Constituency: Morocco (State and Companies)

  • Maurice MATANGA

    Director

    Constituency: Francophone West and Central Africa

  • Kamel MARAMI

    Director

    Constituency: Algeria (State and 4 Companies)

  • Joseph VINCENT

    Director

    Constituency: African Development Bank (AfDB)

  • Sabri Hosni AL-BAKUSH

    Director

    Constituency: Libya, Mauritania and Tunisia (States and Companies)

  • Coenraad VROLIJK

    Director

    Constituency: Regional CEO Africa, Allianz SE Casablanca, Morocco

  • Hassan EL SHABRAWISHI

    Director

    Constituency: AXA Africa Holding (France)

  • Jean CLOUTIER

    Director

    Constituency: Fairfax Financial Holding (Canada)

  • Olorundare Sunday THOMAS

    Director

    Constituency: Nigeria (State and Companies)

  • Moustapha COULIBALY

    Independent Director

    Constituency: Not Applicable (Independent)

Board Chairman;
Chairman of the Nominations and Governance Committee

Dr MAAIT is the current Minister of Finance of the Arab Republic of Egypt.

He has a first degree in Insurance and Mathematics, M.Phil in Insurance, MSc and PhD in Actuarial Science. He is presently a visiting lecturer in different universities in Egypt, Chairman of the Egyptian Governmental Actuarial Department (EGAD), member of several government committees and board member of several companies in Egypt.

Director
Member of the Human Resources and Remuneration Committee
Member of the Underwriting, Risk Management and IT Governance Committee

Mr Belay Tulu is the Director of Insurance Supervision Directorate at the National Bank of Ethiopia. Prior to his current position, he served as the Director of the Ethiopian Institute of Financial Studies.

Mr Belay Tulu holds a BA degree in Accounting from the Addis Ababa University. He is a Chartered Insurer designated by the Chartered Insurance Institute of London, UK and a fellow of the Fletcher School Leadership Program for Financial Inclusion.

Director
Member of the Audit Committee

Mrs Faouzia ZAABOUL is Inspector of Finance of exceptional grade. She is the current Director of Treasury and External Finance at the Ministry of the Economy, Finance and Administrative Reform of the Kingdom of Morocco. Previously, she held the following positions within the same Ministry: Deputy Director of Treasury and External Finance in charge of the “Macroeconomics and Domestic Debt” Unit (2007-2010); Head of the Capital Market Division (1995-2007); Head of the Development of Financial Instruments (1994 - 1995) and Head of service for Bilateral Funding (1992-1994).

Mrs ZAABOUL occupies various positions of representation, including the following: Member of the Commission for the Transfer of Public Enterprises to the Private Sector since April 2019; Board Member of the Insurance and Social Security Supervisory Authority (ACAPS) since April 2016; Board Member of the Moroccan Capital Market Authority (AMMC) since 2016; Member of the Commission for the Coordination and Supervision of Systemic Risks since June 2015.

Mrs ZAABOUL is holder of 2éme CES in Economics; 1st year MBA, ESC, Toulouse; and ISCAE Diploma (short duration, Strategic Management)

Director
Member of the Finance and Investment Committee
Member of the Human Resources and Remuneration Committee

Mr Maurice MATANGA is the current Chairman of the Board of Directors of CHANAS Assurance S.A. (Cameroon) since 15 November 2015. He is also Director of Strategy and Development at the National Hydrocarbons Corporation (SNH) of Cameroon, an institution in which he has held various positions since joining in 1986. He was part-time lecturer at the University of Yaounde (Cameroon) from 1987 to 1990.

Mr Maurice MATANGA holds a Master's degree in Industrial Engineering and Technological Innovation from Ecole Centrale de Paris (France). He also holds an Advanced University Degree (3ème cycle) in Energy Economics from the University of Paris-Dauphine and the National Institute of Nuclear Sciences and Techniques (France). Mr Maurice MATANGA is currently working on a PhD thesis on Energy Planning in Cameroon.

Director

Chairman of the Human Resources and Remuneration Committee

Member of the Nominations and Governance Committee

Mr MARAMI is currently the Director of Insurance and member of the Insurance Supervisory Commission, Ministry of Finance, Algeria.

He is a professional insurer and holds degrees in Economics and Finance. Mr MARAMI equally has a Postgraduate degree in insurance.

Director,
Member of the Audit Committee
Member of the 
Underwriting, Risk Management and IT Governance Committee

He trained in industrial psychology and worked in the non-profit sector for 5 years. Thereafter, Mr Joseph VINCENT worked for 14 years in human resources for Japanese, American and European multinationals. For the past 25 years he has worked in senior management positions in credit and political risk insurance as well as risk mitigation of renewable energy projects.

Mr Joseph VINCENT has served as Chief Underwriting Officer at the African Trade Insurance Agency (ATI) and Senior Advisor Financial Products, International Agency for Renewable Energy (IRENA). He has also worked as Senior Advisor, Regional Liquidity Support Facility - a joint project of ATI and KfW, which provides guarantees to renewable energy independent power producers

Director
Member of the Human Resources and Remuneration Committee

Mr Sabri Hosni AL-BAKUSH is the current Deputy General Manager for Technical Affairs of the Libya Insurance Company (LIC). Prior to this, he held several senior positions in the company and rose through the ranks to the current post of Deputy General Manager. In addition to being a member of several committees such as the technical committee on non-marine insurance of the General Arab Insurance Union, he has been a member of the Board of Directors of the Chadian Insurance and Reinsurance Company.

Mr Al-Bakush graduated in Economics from the Tripoli University, Libya.

Director,
Chairman of the Finance and Investment Committee
Member of the Nomination and Governance Committee

Dr. Coenraad Christiaan Vrolijk is the current Regional CEO for Allianz in Africa, overseeing the Allianz subsidiaries across the continent. Amongst others, he is on the Board of Directors of Allianz Africa Holding, Allianz Morocco, Allianz Nigeria and Allianz Cameroon, and is a member of the Allianz Group Underwriting Committee. In addition he is on the Board of BIMA (Milvik), as well as the Board of the International Baccalaureate Organization.

Prior to joining Allianz he has served in Private Equity as CEO at Rosewood Insurance in Zurich, as Managing Director at BlackRock in London, and as Partner at McKinsey & Company in Geneva. He holds a BSc. in Economics from the University of Bath, and an MA and PhD. in Economics from Brown University.

Director
Member of the Human Resources and Remuneration Committee
Member of the Finance and Investment Committee

Mr. Hassan El-Shabrawishi is currently the CEO / Strategic Development Officer for African business at AXA. He is also the chairman of AXA Egypt, AXA Algeria, Microensure and AXA Africa Speciality Risk, and board member of AXA Morocco, AXA Senegal, AXA Cote D’Ivoire, AXA Cameroon, AXA Gabon and AXA Mansard in Nigeria.

He holds an honours degree in Finance and Econometrics from Richmond University in the United Kingdom and an international MBA from IE Business School in Spain. He is a certified director from the National Association of Corporate Directors in the United State of America.

Mr Hassan El-Shabrawishi joined AXA in 2010 as a Business Transformation Leader, he was previously the Group Chief Innovation Officer and the assistant to the deputy CEO of AXA Group. He founded AXA in Egypt and was its Chief Executive Officer.

Before joining AXA, he held several positions in the insurance sector and at the International Finance Corporation (IFC), a member of the World Bank Group 

Director
Chairman of the Underwriting, Risk Management and Information Technology Governance Committee

Mr Jean CLOUTIER is the current Chairman of Fairfax International, Executive Committee Member of Fairfax Financial Holdings Limited and Vice President of International Operations. Mr Cloutier holds a Bachelor’s degree in Actuarial Science from Laval University, Quebec City. He is a fellow of the Canadian Institute of Actuaries (FCIA) and Casualty Actuarial Society (FCAS), fellow of the Singapore Actuarial Society and fellow of the Society of Actuaries of Thailand.

Director
Member of the Underwriting, Risk Management and Information Technology Governance Committee
Member of the Nominations & Governance Committee

Mr Olorundare Sunday THOMAS became substantive Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Nigeria with effect from 30 April 2020, after his appointment as acting Commissioner in August 2019.

Prior this appointment, Mr THOMAS was the Deputy Commissioner in charge of technical matters at the Commission from April 2017 to August 2019.

Mr THOMAS is a thorough-bred insurance professional with vast knowledge and experience in underwriting, regulation and hands-on management of human and material resources spanning over four decades uninterrupted.

During these years, he traversed the entire insurance sector in Nigeria leaving indelible marks along the way. It is during his tenure as Director – General of the Nigerian Insurers Association (NIA) between May 2010 and April 2017 that the Association successfully developed and deployed the Nigeria Insurance Industry Database (NIID) platform.

He holds a BSc (Hons) in Actuarial Science and an MBA Finance both from the University of Lagos. He is also an Associate member of the Chartered Insurance Institute, London and Nigeria, Member Society of Fellows of the CII London, Member Nigeria Institute of Management among others.

Independent Director
Chairman of the Audit Committee
Member of the Finance and Investment Committe

Moustapha COULIBALY is currently a senior partner with the firm BDO in Côte d’Ivoire. Previously, he was the managing partner of Grant Thornton Côte d’Ivoire (2012-2018) and, COO of Deloitte & Touche Côte d’Ivoire (2000-2007).

He holds a USA CPA degree (Certified Public Accountant), an MBA degree in Finance & Management from ADELPHI University, Long Island, New York, USA and, a Bachelor degree in management and, a Master degree in Finance from the University of Abidjan, Côte d’Ivoire.

Mr. COULIBALY was external auditor (as Audit partner) to AFDB group for 25 years, external auditor to AFRICA RE for 8 years (as Engagement Partner) and, to CICA RE for 9 years (as Engagement partner).

Mr. COULIBALY is the founder of Lycée Maurice DELAFOSSE in Abidjan, Côte d’Ivoire of which he was the chairman of the Board from inception in 2004 to 2017.