The African Trade Insurance Agency (ACA) has posted a surge of 132% in net income to $27.7m for the financial year ended 31 December 2019, continuing eight years of uninterrupted growth.
The African Reinsurance Corporation (Africa Re) has announced the disbursement of $3.3m to assist stakeholders in the ongoing fight against the COVID-19 pandemic in the continent.
InsurTech startup Baloon has raised EUR1.8m ($2.1m) and expects to raise around EUR3m by the end of the year, says the company's founder Bertrand Vialle.
SAAR Assurances Guinea is launching a window for the marketing of Islamic insurance products. The window unit is named SAAR Takaful.
The COVID-19 pandemic is hitting the Middle East & Africa region, particularly oil exporters, notes Swiss Re Institute.
MUA, the leading insurance company in Mauritius, has completed its purchase of Saham Assurance Company Kenya Saham Kenya, reaching an important milestone in its expansion strategy in East Africa.
Kenya based ICEA LION Insurance has announced a partnership deal with LeapFrog Strategic Africa Investments.
Sub-Saharan Africa is seen as the fastest urbanising region in the world, and currently has 31 large cities each with over 2m people. By 2035, the number of such cities will be 49.
The scale of natural disasters in Africa has prompted several organisations to hold a series of training courses on environmental risk insurance and pool their resources to protect vulnerable populations against disasters.
The German government is assuming premium payments of around EUR19m ($21m) for the drought insurance offered by the African Risk Capacity (ARC), in response to the COVID-19 pandemic.