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Djibouti: African Risk Capacity Group signs Africa's first multi-year, multi-peril agreement

The government of Djibouti has signed the first-ever multi-year, multi-peril agreement on the African continent with the African Risk Capacity Group (ARC Group) to protect its most climate-vulnerable communities.


South Africa: Life insurers remain well-capitalised despite tough operating conditions in 2022

South African life insurers navigated volatile investment markets and a tough operating environment in 2022, emerging well-capitalised and in a strong position to continue honouring contractual promises made to policyholders and their beneficiaries, says the Association for Savings and Investment...

Tanzania: TIRA considers regulating insurance premium rates

The Tanzania Insurance Regulatory Authority (TIRA) will soon introduce new regulations that will allow it to suspend an insurer that undercuts premium rates, in its bid to ensure the market's sustainability.

Ethiopia: Preparations afoot for new player in insurance market

Amhara Bank, incorporated in June 2022, and other promoters are working to establish an insurance company in Ethiopia with a paid-up capital of ETB2bn ($37.7m), the largest amount of initial capital for a new insurer in the country.

Other News

Middle East

  • UAE: Auto insurance prices remain below floor set by regulator despite price hikes
  • Egypt: Insurance market prospects seen as bright
  • Turkiye: PERILS estimates insured property losses from 6 Feb quakes at US$3.5bn

Asia

  • Rural India says inadequate funds and high premiums deter them from buying life insurance
  • Insurance Hall of Fame inducts its first-ever legacy laureate
  • Taiwan: Insurance sector's exposure to Credit Suisse represents 0.35% of total usable funds

China

  • Health insurance business in China shows different trends between life and non-life insurers
  • Insurance industry grows by 3.8% in Jan 2023
  • Insurance sector discusses risks in Silicon Valley Bank scenarios
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Asia Risk

  • In almost 50% companies ChatGPT replaces workers
  • Asian cities at increased exposure to rising sea levels
  • Fresh water demand will be 40% higher than supply by 2030

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