The declining creditworthiness of many African debt issuers has led to increased asset risk and will test the resilience of the continent's reinsurers' balance sheets, according to a new AM Best report.
Several Tanzanian insurance companies recently established a consortium for insuring large and valuable projects in the country to reduce reliance on foreign insurance companies, revealed Commissioner of Insurance, Dr Baghayo Saqware.
The National Health Insurance (NHI) scheme planned by the government will not be sustainable without the collaboration of the private sector, the country's biggest medical aid scheme and wellness and financial services group, Discovery, has said.
The Société Nouvelle d'Assurances de Guinée (SONAG) has started discussions with BIAT Consulting, a subsidiary of the BIAT group (Banque Internationale Arabe de Tunisie), the largest private sector bank in Tunisia, about forming a strategic partnership in the field of insurance and banking.