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Blackwater founder Prince's company enters Congo insurance industry
Source: Reuters
WORLD NEWS MARCH 9, 2020 / 7:28 PM / UPDATED 2 HOURS AGO
Blackwater founder Prince's company enters Congo insurance industry
Hereward Holland
2 MIN READ
KINSHASA (Reuters) - The Democratic Republic of Congo has granted an insurance license to a subsidiary of Hong-Kong-listed Frontier Services Group (FSG), a security and logistics company run by Erik Prince, the founder of private security firm Blackwater.
Prince, who renamed Blackwater and sold it in 2010 after several of its employees were indicted on unlawful killing charges related to their work during the Iraq War, has run FSG since 2014. The company has a subsidiary in Congo with a mandate to extract and sell minerals and work in security.
He has also been active pitching projects in countries around the world, including Venezuela, where he floated a plan last year to deploy a private army to help the opposition topple President Nicolas Maduro, sources told Reuters.
Congo’s Insurance Regulation and Control Authority (ARCA) issued a license to Global Pionner Assurance, majority-owned by FSG’s Congo subsidiary, ARCA said in a statement seen by Reuters on Monday.
-snip-
Blackwater founder Prince's company enters Congo insurance industry
Hereward Holland
2 MIN READ
KINSHASA (Reuters) - The Democratic Republic of Congo has granted an insurance license to a subsidiary of Hong-Kong-listed Frontier Services Group (FSG), a security and logistics company run by Erik Prince, the founder of private security firm Blackwater.
Prince, who renamed Blackwater and sold it in 2010 after several of its employees were indicted on unlawful killing charges related to their work during the Iraq War, has run FSG since 2014. The company has a subsidiary in Congo with a mandate to extract and sell minerals and work in security.
He has also been active pitching projects in countries around the world, including Venezuela, where he floated a plan last year to deploy a private army to help the opposition topple President Nicolas Maduro, sources told Reuters.
Congo’s Insurance Regulation and Control Authority (ARCA) issued a license to Global Pionner Assurance, majority-owned by FSG’s Congo subsidiary, ARCA said in a statement seen by Reuters on Monday.
-snip-
Read more: https://www.reuters.com/article/us-congo-insurance/blackwater-founder-princes-company-enters-congo-insurance-industry-idUSKBN20W35E
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