Finafrica, a pan-African provider of microfinance and insurance services and a subsidiary of the French group, Groupe Duval, has welcomed a strategic investor in Proparco which has acquired a 10% stake in the company.
Compagnie Commune de RĂ©assurance des Etats Membres de la CIMA (CICA-RE) -- Common Reinsurance Company of CIMA Member States --has a track record of adequate operating performance, says AM Best.
2024 is called The Year of Elections with 83 national elections in 78 countries scheduled, by current estimates, according to WTW which offers data-driven, insight-led solutions in the areas of people, risk and capital.
The insurance industry in Cameroon posted a turnover of FCFA272.44bn ($454.76m) in 2023, 6.3% higher than the FCFA256.34bn recorded for 2022, according to provisional data from the Association of Insurance Companies of Cameroon (ASAC).
Africa Re has reported a net income of $129.15m in 2023. The figure is 444.16% higher than the $23.733m chalked up in 2022.
Africa Specialty Risks (ASR) has formed a landmark parametric reinsurance partnership with a leading European reinsurer, to increase its coverage for vulnerable populations and economies in Africa and the Middle East.
Health insurers in Cameroon are calling on the Association of Insurance Companies of Cameroon (ASAC) to step up self-regulation of the market segment, following sustained losses in this branch of operations.
The potential withdrawal of Niger, Mali and Burkina Faso from the Economic Community of West African States (ECOWAS) is the latest sign of political turmoil in the region but should have relatively little impact on those countries' insurance markets for now, according to AM Best analysts studying the region's trends.
African Risk Capacity (ARC) has formalised a $11.7m partnership with the United States Government (USG) to increase access to parametric insurance across Africa.
Members of the East African Insurance Supervisors Association (EAISA) have adopted the grouping's first Strategic Plan which spans the period 2024/2025 to 2028/2029.