Magazine Table of Contents
Africa possesses all the necessary resources to create a thriving insurance industry, but local players have to cooperate more to take the industry to the next level, said speakers at the 45th African Insurance Organisation (AIO) General Assembly held in Accra, Ghana last month.
Marine insurance has emerged as one of the most profitable branches for insurers where the loss ratio over the past five years reached 40%. This is a positive outcome compared to results from other lines such as motor, the first-ever Marine International Insurance Conference in Dubai was told.
Insurance is increasingly becoming a vital component in financial inclusion policies in emerging markets and the industry should take advantage of this to increase the penetration rate and cover larger social segments, said speakers at the 2nd FAIR Life Re/Insurance Forum held in Cairo, Egypt in April.