African economies will continue to experience in 2020 a protracted growth slowdown, particularly the biggest ones such as South Africa (+0%), Algeria (+0.5%) or Nigeria (+1%), according to Allianz Euler Hermes.
Five of the 28 insurance companies operating in Angola accounted for 75% of total insurance premiums generated in 2018, or an estimated AOA104.84bn ($214m), according to a study of the Regulatory Agency for Insurance Supervision of Angola (Arseg).
The Africa Continental Free Trade Area Agreement (AFCFTA), will trigger a positive transformation of the reinsurance market in Africa at large, says AM Best.
Fraud involving healthcare service providers and medical aid scheme members is crippling the country's medical insurance schemes.
The profitability of Lagos-headquartered African Reinsurance Corporation (ARC) is expected to recover in 2019 against 2018, says AM Best in a report.
Out of the 49 countries covered in sub-Saharan Africa, 25 still have a high or very high risk rating, says Aon in its December 2019 Political Risk Newsletter. This makes sub-Saharan Africa an incredibly risky region for investors. A growing problem in sub-Saharan Africa is legal and regulatory risk.
American insurance giant Chubb has made a $10m equity investment in the African Trade Insurance Agency (ATI), becoming the first global property and casualty insurance company to become a shareholder in Africa's leading multilateral political risk and credit insurer.
African legislators have been challenged to come up with legal frameworks for climate change to enable countries avoid catastrophes and reactionary emergencies that eat up their budgets.
frican Risk Capacity Insurance, the subsidiary of African Risk Capacity (ARC), a specialised agency of the African Union, says it is keen to help the continent hedge against disaster-induced risks without having to rely on foreign aid.
The Insurance Companies Committee of Mali (Ccam) has announced that the Automobile Guarantee Fund will be operational soon.