A dedicated legal framework will soon be introduced in Morocco, according to the Insurance and Social Security Supervisory Authority (ACAPS).
The microinsurance segment in Egypt generated premiums totalling EGP377m ($7.7m) and paid out compensation of EGP193m in 2023, according to data from the Financial Regulatory Authority (FRA).
The growth of microinsurance in Nigeria has been slow in the 10 years since an initiative was launched in September 2014 to promote microinsurance as part of reforms to make insurance inclusive.
The InsuResilience Solutions Fund (ISF) has signed a grant agreement to co-fund the development of a climate risk insurance solution to protect smallholder farmers in southern Malawi from climate-related hazards.
The Securities and Exchange Commission of Pakistan (SECP) yesterday proposed to increase the minimum paid-up capital requirement for insurance companies as part of its "Insured Pakistan" initiative.
AXA Life Insurance Egypt, a subsidiary of France's AXA Group, has signed a strategic partnership agreement with Post for Investment (PIF), the investment arm of Egypt Post, to establish a microinsurance company under the new Unified Insurance Law, regulations supporting which are being worked out by the authorities.
The Microinsurance Network (MiN), the leading global community dedicated to developing and promoting inclusive insurance, has formed a strategic partnership with the African Insurance Organisation (AIO).
Insurance clinics have been launched for market traders and artisans and other informa-sector workers in the Greater Accra Metropolitan Area (GAMA) to promote insurance inclusion and penetration.
The African insurance market is experiencing significant transformation driven by various trends that present both opportunities and challenges.
Significant protection gaps still exist in Malaysia, particularly among the vulnerable segments of the population, and a multi-faceted approach is critical to narrow them, with the insurance sector taking on greater ownership, according to Mr Adnan Zaylani Mohamad Zahid, deputy governor of Bank Negara Malaysia (BNM).