The African Trade Insurance Agency (ATI) has appointed Toavina Ramamonjiarisoa as its new chief financial officer. Ramamonjiarisoa is a Madagascan national with over 10 years’ experience in financial management and auditing working in both the UK and France. Before joining ATI, she was the CFO of a UK-based international asset manager. She has also spent four years working as the group financial controller at credit insurer Coface France.

Her appointment comes as ATI embarks on its expansion into West Africa. The Nairobi-based insurer has announced that it is ready to underwrite policies in Ghana and Benin, and will be aiming to expand its presence into other West African countries in the coming year.

In the first half of 2011, ATI posted a 44% increase in gross written premium, climbing from US$2.5mn to US$3.6mn. The company believes this increase is fuelled by growing demand across Africa for trade credit and political risk insurance, which in turn has been driven by tightening bank credit in the region. ATI believes its insurance products are helping to attract investors back to Africa to support regional exporters and infrastructure projects.