The insurance market in Burkina Faso is expected to rake in premiums totalling at least CFA92bn ($154.5m) this year and cross the CFA100bn ($168m) mark next year, according to Mr Serge Ramde of the Professional Association of Insurance Companies of Burkina Faso (APSAB).
Africa Re retains reinsurance business worth $800m a year in the continent or 28% of all reinsurance premiums going out of the continent, the reinsurer's group managing director Mr Corneille Karekezi has disclosed.
The European Investment Bank (EIB) has formally agreed to support membership expansion of the African Trade Insurance Agency (ATI) with a concessional financing facility to cover the shareholding of three prospective members -- Cameroon, Niger and Togo.
French online insurance broker Baloon has started to offer medical insurance, moving on from motor business.
Health insurance in Africa has experienced a boom in the last five years and consolidated into two distinct branches - insurers supporting comprehensive public schemes, on the one hand, and simple, complementary health products like hospital cash and health value-added services on the other, according to the "2018 Landscape of Microinsurance in Africa".
The Inter-African Conference on Insurance Markets (CIMA), the body in charge of insurance regulation in 14 French-speaking countries in sub-Saharan Africa, has introduced takaful in its insurance law.
The African Insurance Organisation (AIO) has drawn up a new strategic plan which redefines the strategic objectives of the body and specific actions to be taken to meet the goals.
East Africa's life insurance business is growing, fuelled by increasing demand among the fastest growing middle class even as general insurance business' largest classes-motor and health-suffer severe losses and fraud, according to a new survey.
Insurance markets across sub-Saharan Africa provide an opportunity for diversification and an avenue for growth, and so remain attractive to international reinsurers taking a longer-term view, according to the ratings agency AM Best.
South Africa's Sanlam, the continent's largest insurer, is working to be the top insurer in big markets, according to a report by Bloomberg.