At least 20 (re)insurers have failed somewhere in the world in every single year between 2000 and 2024, according to the third edition of the "Global Failed Insurer Catalogue" published by Property and Casualty Insurance Compensation Corporation (PACICC).
The creation of a public reinsurer in Cameroon is expected to be a reality soon, facilitated by a law on mandatory cessions.
Microinsurance start-up Samb'a Assurances Gabon is planning to expand to Cameroon and the Democratic Republic of Congo (DRC), the company revealed in a media statement.
Cameroon's government has submitted a draft law to Parliament which, when passed, would require insurance companies to cede part of their premiums and reinsurance contracts to local entities.
African Reinsurance Corporation (Africa Re) and the United Nations International Children's Emergency Fund (UNICEF) have signed an agreement to support climate change education and the development of green skills.
Burkinabe conglomerate Coris Invest Group has begun activities in Cote d'Ivoire to promote financial inclusion in the country where insurance penetration is low.
The InsuResilience Solutions Fund (ISF) has announced, in statements issued earlier this month, that it is supporting agricultural insurance in Ethiopia and Togo, as the agricultural sector is increasingly vulnerable to increasing climate-related risks such as droughts, excess rainfall, river flooding and extreme heat.
The African Reinsurance Corporation (Africa Re) has posted a 32.5% jump in net profit to $22.5m for the first three months of 2025, compared to $16.9m achieved in 1Q2024, according to a statement released by Africa's biggest reinsurer.
Addressing sovereign debt is crucial to building a vibrant and resilient insurance industry in Africa, the governor of the National Bank of Ethiopia (NBE), Mr Mamo Mihretu, has said.
Multi-stakeholder collaboration, particularly with the (re)insurance sector, plays a vital role as a key enabler in driving the massive infrastructure investment needed to support Africa's economic transformation, social inclusion and climate resilience, according to a new report.